REGISTERED NUMBER: 04032384 (England and Wales)

PRISM CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N Webb

SECRETARY:

Mrs CM Webb

REGISTERED OFFICE:

Broad House

1 The Broadway

Old Hatfield

Hertfordshire

AL9 5BG

REGISTERED NUMBER:

04032384 (England and Wales)

ACCOUNTANTS:

Jones Hunt & Keelings

Chartered Certified Accountants and

Chartered Tax Advisers

Broad House

1 The Broadway

Old Hatfield

Hertfordshire

AL9 5BG

FIXED ASSETS

Tangible assets

4

157,256

177,340

Investment property

5

850,000

850,000

1,007,256

1,027,340

CURRENT ASSETS

Debtors

6

246,730

40,583

Cash at bank

57,551

476,339

304,281

516,922

CREDITORS

Amounts falling due within one year

7

224,914

428,395

NET CURRENT ASSETS

79,367

88,527

TOTAL ASSETS LESS CURRENT LIABILITIES

1,086,623

1,115,867

CREDITORS

Amounts falling due after more than one year

8

(700,106

)

(687,126

)

PROVISIONS FOR LIABILITIES

(35,632

)

(40,000

)

NET ASSETS

350,885

388,741

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

350,785

388,641

SHAREHOLDERS' FUNDS

350,885

388,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 December 2025 and were signed by:

N Webb - Director

1.	STATUTORY INFORMATION

Prism Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Accounting convention

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements are prepared on the going concern basis.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

In preparing these financial statements, the company's critical accounting judgements and estimates are in respect of the the impairment of assets, the net realisable value of stock, the depreciation rates for fixed assets and the recoverability of amounts owed by customers. Details of these judgements and estimates are described in the relevant accounting policy, the notes to the financial statements and below:

- In assessing the net realisable value of the company's stocks. Factors taken into consideration in reaching a decision include knowledge of the sales value in the previous year and forecasts for the coming year.

- In determining the depreciation rates of tangible fixed assets, which are depreciated over their useful lives, taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessment considers issues such as future market conditions, the remaining life of the asset and projected disposal values.

- In estimating the recoverability of amounts owed by customers. The directors' best estimate is based on the period the debt has been outstanding and the difficulties experienced and anticipated in pursuing collection.

Estimates and judgements include the likely outcome of future events; these are made after reviewing historical data and assessing all other pertinent information.

It is possible that new information could come to light that might result in material adjustments to the items above.

Turnover

The company's activities are property developments and renovations. Turnover represents net invoiced sales of goods and services, excluding value added tax. It is recognised when the company obtains the right to consideration and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year-end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

201,298

138,139

8,909

348,346

Additions

3,420

22,500

2,462

28,382

Disposals

-

(16,801

)

-

(16,801

)

At 31 March 2025

204,718

143,838

11,371

359,927

DEPRECIATION

At 1 April 2024

104,155

60,535

6,316

171,006

Charge for year

19,849

22,295

1,025

43,169

Eliminated on disposal

-

(11,504

)

-

(11,504

)

At 31 March 2025

124,004

71,326

7,341

202,671

NET BOOK VALUE

At 31 March 2025

80,714

72,512

4,030

157,256

At 31 March 2024

97,143

77,604

2,593

177,340

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

26,493

Additions

22,500

At 31 March 2025

48,993

DEPRECIATION

At 1 April 2024

2,751

Charge for year

10,154

At 31 March 2025

12,905

NET BOOK VALUE

At 31 March 2025

36,088

At 31 March 2024

23,742

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

850,000

NET BOOK VALUE

At 31 March 2025

850,000

At 31 March 2024

850,000

The director considers the market value of the investment property at 31 March 2025 to be at £850,000 (2024: £850,000).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,542

1,338

Amounts receivable on contracts

20,000

18,671

Other debtors

225,188

20,574

246,730

40,583

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

8,411

2,786

Trade creditors

49,084

51,856

Taxation and social security

14,537

51,663

Other creditors

142,882

312,090

224,914

428,395

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,500

12,500

Hire purchase contracts

29,007

19,137

Other creditors

668,599

655,489

700,106

687,126

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

668,599

655,489

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Other loans

668,599

655,489

The other loans were used to finance the construction of a property and are secured on that property. Additionally, the director and his wife have personally guaranteed these loans.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

99

Ordinary A

£1

99

99

1

Ordinary B

£1

1

1

100

100

11.	RELATED PARTY DISCLOSURES