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Registered number: 03313419
Pryce (Builders) Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Sempar Accountancy and Tax Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03313419
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 112,600 107,404
112,600 107,404
CURRENT ASSETS
Stocks 5 55,000 20,000
Debtors 6 466,171 246,494
Cash at bank and in hand 183,790 224,085
704,961 490,579
Creditors: Amounts Falling Due Within One Year 7 (364,989 ) (104,385 )
NET CURRENT ASSETS (LIABILITIES) 339,972 386,194
TOTAL ASSETS LESS CURRENT LIABILITIES 452,572 493,598
Creditors: Amounts Falling Due After More Than One Year 8 (32,710 ) (43,392 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,287 ) (19,567 )
NET ASSETS 404,575 430,639
CAPITAL AND RESERVES
Called up share capital 10 114 114
Capital redemption reserve 90 90
Profit and Loss Account 404,371 430,435
SHAREHOLDERS' FUNDS 404,575 430,639
Page 1
Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Pryce
Director
31 July 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pryce (Builders) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03313419 . The registered office is Leonard Street, Oakengates, Telford, Shropshire, TF2 6EU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 2% on cost
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 50% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2024: 7)
6 7
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 March 2024 8,500 132,745 206,650 14,364
Additions - 1,696 39,238 1,450
Disposals - - - -
As at 28 February 2025 8,500 134,441 245,888 15,814
Depreciation
As at 1 March 2024 4,079 117,667 123,919 9,444
Provided during the period 170 2,516 33,294 970
Disposals - - - -
As at 28 February 2025 4,249 120,183 157,213 10,414
Net Book Value
As at 28 February 2025 4,251 14,258 88,675 5,400
As at 1 March 2024 4,421 15,078 82,731 4,920
Computer Equipment Total
£ £
Cost
As at 1 March 2024 4,123 366,382
Additions - 42,384
Disposals (1,523 ) (1,523 )
As at 28 February 2025 2,600 407,243
Depreciation
As at 1 March 2024 3,869 258,978
Provided during the period 16 36,966
Disposals (1,301 ) (1,301 )
As at 28 February 2025 2,584 294,643
Net Book Value
As at 28 February 2025 16 112,600
As at 1 March 2024 254 107,404
Page 4
Page 5
5. Stocks
2025 2024
£ £
Work in progress 55,000 20,000
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 326,236 59,825
Prepayments and accrued income 5,796 99,621
Other debtors 132,596 87,048
Corporation tax recoverable assets 1,543 -
466,171 246,494
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 4,589 4,546
Trade creditors 73,148 46,763
Bank loans and overdrafts 5,829 5,685
Corporation tax - 1,543
Other taxes and social security 4,136 7,134
VAT 31,874 -
Other creditors 7,117 827
Accruals and deferred income 7,666 2,532
Director's loan account 230,630 35,355
364,989 104,385
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 9,303 13,892
Bank loans 23,407 29,500
32,710 43,392
9. Secured Creditors
Of the creditors the following amounts are secured.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 13,892 18,438
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 114 114
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