REGISTERED NUMBER: 04075096 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2025

FOR

PORTSLADE PANELWORKS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

55,989

72,451

CURRENT ASSETS

Stocks

6

15,000

15,000

Debtors

7

287,572

415,059

Cash at bank and in hand

276,737

151,790

579,309

581,849

CREDITORS

Amounts falling due within one year

8

246,519

279,444

NET CURRENT ASSETS

332,790

302,405

TOTAL ASSETS LESS CURRENT LIABILITIES

388,779

374,856

CREDITORS

Amounts falling due after more than one year

9

(30,738

)

(36,814

)

PROVISIONS FOR LIABILITIES

12

-

(1,045

)

NET ASSETS

358,041

336,997

CAPITAL AND RESERVES

Called up share capital

13

2

2

Retained earnings

358,039

336,995

SHAREHOLDERS' FUNDS

358,041

336,997

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

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

The directors acknowledge their 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2026 and were signed on its behalf by:

Mr P J Chambers - Director

1.	STATUTORY INFORMATION

Portslade Panelworks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04075096

Registered office:

Pharmacy Chambers

High Street

Wadhurst

East Sussex

TN5 6AP

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis not withstanding the excess of current liabilities over current assets. The directors have confirmed their intention to continue their support to the company for the foreseeable future.

Turnover

Turnover 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 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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Operating leases

Rentals paid under operating leases where substantially all of the benefits and risks of ownership remain with the lessor 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 14 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 November 2024

36,668

82,127

45,116

101,788

265,699

Additions

-

2,532

-

-

2,532

Disposals

-

-

-

(500

)

(500

)

At 31 October 2025

36,668

84,659

45,116

101,288

267,731

DEPRECIATION

At 1 November 2024

36,668

76,293

43,809

36,478

193,248

Charge for year

-

1,977

327

16,286

18,590

Eliminated on disposal

-

-

-

(96

)

(96

)

At 31 October 2025

36,668

78,270

44,136

52,668

211,742

NET BOOK VALUE

At 31 October 2025

-

6,389

980

48,620

55,989

At 31 October 2024

-

5,834

1,307

65,310

72,451

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

Motor

vehicles

£

COST

At 1 November 2024

and 31 October 2025

51,750

DEPRECIATION

At 1 November 2024

8,625

Charge for year

10,781

At 31 October 2025

19,406

NET BOOK VALUE

At 31 October 2025

32,344

At 31 October 2024

43,125

6.

STOCKS

2025

2024

£

£

Finished goods

15,000

15,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

106,900

104,532

Amounts owed by associates

115,559

260,963

Other debtors

31,450

1,450

Directors' current accounts

7,846

26,675

Deferred tax asset

284

-

Prepayments and accrued income

25,533

21,439

287,572

415,059

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 10)

5,882

8,000

Hire purchase contracts

714

644

Trade creditors

84,971

63,327

Corporation tax

75,776

98,240

PAYE and social security

9,401

9,965

VAT

33,563

50,660

Other creditors

7,012

18,343

Net wages

23,968

28,436

Directors' current accounts

92

-

Accruals and deferred income

5,140

1,829

246,519

279,444

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 10)

-

5,333

Hire purchase contracts

30,738

31,481

30,738

36,814

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

5,882

8,000

2025

2024

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

5,333

11.	SECURED DEBTS

There are fixed and floating charges over the assets and undertakings of the company.

12.	PROVISIONS FOR LIABILITIES

2024

£

Deferred tax

1,045

Deferred tax

£

Balance at 1 November 2024

1,045

Provided during year

(1,329

)

Balance at 31 October 2025

(284

)

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

1

B Ordinary

£1

1

1

2

2

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Amounts due from Mr Paul J Chambers at the balance sheet date total £7,846 (2024: £25,186). Amounts due are unsecured and repayable on demand.

15.	RELATED PARTY DISCLOSURES

At the balance sheet date, £115,559 (2024: £260,963) was due from Precision Panelworks Limited, a company in which Miss C Chambers has an interest as Director and Shareholder. Interest of £2,545 (2024: £5,463) has been charged on this balance at HM Revenue and Customs' official rate of interest.