Company No: 11444482 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	63,280		74,287
		63,280		74,287
Current assets
Stocks	4	17,084		16,500
Debtors	5	261,021		278,462
Cash at bank and in hand		208		261
		278,313		295,223
Creditors: amounts falling due within one year	6	( 254,908)		( 284,257)
Net current assets		23,405		10,966
Total assets less current liabilities		86,685		85,253
Creditors: amounts falling due after more than one year	7	( 35,380)		( 54,556)
Provision for liabilities		( 14,428)		( 18,052)
Net assets		36,877		12,645
Capital and reserves
Called-up share capital		100		100
Profit and loss account		36,777		12,545
Total shareholders' funds		36,877		12,645

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Paice Building Services Ltd (registered number: 11444482) were approved and authorised for issue by the Director on 05 May 2026. They were signed on its behalf by:

Mr W Paice Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Paice Building Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Brickbarn Loscombe Farm, West Knighton, Dorchester, DT2 8LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	4 years straight line
Vehicles	20 % reducing balance
Office equipment	3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	10		7

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 November 2024	7,234		12,034		79,450		3,092		101,810
Additions	4,144		0		0		666		4,810
At 31 October 2025	11,378		12,034		79,450		3,758		106,620
Accumulated depreciation
At 01 November 2024	431		6,715		17,911		2,466		27,523
Charge for the financial year	1,654		1,573		12,307		283		15,817
At 31 October 2025	2,085		8,288		30,218		2,749		43,340
Net book value
At 31 October 2025	9,293		3,746		49,232		1,009		63,280
At 31 October 2024	6,803		5,319		61,539		626		74,287

4. Stocks

	2025		2024
	£		£
Stocks	16,084		15,000
Work in progress	1,000		1,500
	17,084		16,500

5. Debtors

	2025		2024
	£		£
Trade debtors	247,385		273,492
Other debtors	13,636		4,970
	261,021		278,462

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts (secured £ 5,556)	22,029		9,139
Trade creditors	167,902		210,573
Taxation and social security	40,185		40,586
Obligations under finance leases and hire purchase contracts (secured)	13,615		13,615
Other creditors	11,177		10,344
	254,908		284,257

Bank loan liabilities at the year end were made up of a Government backed COVID loan of £25,463 (2024 - £31,018). Total hire purchase liabilities were £29,088 (2024 - £42,703) and these were secured against the asset to which they relate.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	19,907		25,468
Obligations under finance leases and hire purchase contracts (secured)	15,473		29,088
	35,380		54,556

8. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	39,200		49,000

9. Related party transactions

Transactions with the entity's director

The Director loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 November 2024 the balance owed by the Director was £1,342. During the year, £47,055 was advanced to the Director, and £44,714 was repaid by the Director. At 31 October 2024 the balance owed by the Director was £3,683.

At 1 November 2023 the balance owed by the Director was £7,413. During the year, £52,225 was advanced to the Director, and £58,296 was repaid by the Director. At 31 October 2024 the balance owed by the Director was £1,342.