Statutory Information
PRIORITY TUNNELLING LIMITED is a private limited company, limited by shares, domiciled in England and Wales, registration number 11894806, registration address Sterling House, 31/32 High Street, Wellingborough, Northants, NN8 4HL, United Kingdom.
The presentation currency is £ sterling.
| 1. |
Accounting Policies
Basis of accounting
The accounts have been prepared under the historical cost convention and in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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 all 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. 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.
|
| 2. |
Tangible fixed assets
| Cost or Valuation |
|
Plant and Machinery |
|
Motor Vehicles |
|
Total |
| |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
|
5,000 |
|
2,000 |
|
7,000 |
| Additions |
|
- |
|
- |
|
- |
| At 31 March 2025 |
|
5,000 |
|
2,000 |
|
7,000 |
| Depreciation |
| At 01 April 2024 |
|
2,891 |
|
875 |
|
3,766 |
| Charge for year |
|
527 |
|
281 |
|
808 |
| At 31 March 2025 |
|
3,418 |
|
1,156 |
|
4,574 |
| Net book values |
| Closing balance as at 31 March 2025 |
|
1,582 |
|
844 |
|
2,426 |
| Opening balance as at 01 April 2024 |
|
2,109 |
|
1,125 |
|
3,234 |
|
| 3. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade debtors |
0 |
|
(118) |
| Taxation & social security less than one year |
5,155 |
|
6,348 |
| Other debtors less than one year |
12,315 |
|
8,202 |
|
17,470 |
|
14,432 |
|
| 4. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade creditors |
1,722 |
|
204 |
| Bank loans & overdrafts |
10,298 |
|
10,043 |
| Other creditors less than one year |
1,319 |
|
1,266 |
|
13,339 |
|
11,513 |
|
| 5. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank loans & overdrafts |
8,776 |
|
19,074 |
|
8,776 |
|
19,074 |
|
| 6. |
Share Capital
Allotted
|
2025
£ |
|
2024
£ |
|
2
Ordinary shares of £1.00 each |
2 |
|
2 |
|
2 |
|
2 |
|
| 7. |
Average number of employees
Average number of employees during the year was 0 (2024: 2).
|
| 8. |
Related Party Transactions
There were various transactions between the directors and the company during the year. At the end of the year the directors owed £12,800 (2024 £8,123). Interest is charged at the official rate on the overdrawn balance on the average basis.
|
| 9. |
Controlling Party
The company is controlled by Mr Gerard Toland.
|
4
|