Peerless Fencing Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Peerless Fencing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01260855 . The registered office is 129 Woodplumpton Road, Fulwood, Preston, Lancashire, PR2 3LF.

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. Going Concern Disclosure

The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate, due to the ongoing support of the directors.

2.3. 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.

2.4. 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	5% on cost
Plant & Machinery	20% on written down value
Motor Vehicles	25% on written down value
Computer Equipment	25 % written down value and 33.3% on cost

2.5. 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.

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Peerless Fencing Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Financial Instruments

Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

Financial Assets

Financial assets are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction, in which case the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Subsequent to initial recognition, financial assets are measured at amortised cost using the effective interest method, less any impairment. Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial Liabilities

Financial liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction, in which case the financial liability is measured at the present value of the future payments discounted at a market rate of interest.

Subsequent to initial recognition, financial liabilities are measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the obligation specified in the contract is discharged, cancelled, or expires.

Trade and Other Debtors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses.

Trade and Other Creditors

Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method.

2.7. 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.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. 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.

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Peerless Fencing Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.9. Government Grant

Government grants are recognised in the profit and loss account in the period to which they relate.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 11 (2025: 10)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2025	-	114,542	129,071	34,519	278,132
Additions	23,125	11,076	30,884	-	65,085

As at 31 March 2026	23,125	125,618	159,955	34,519	343,217

Depreciation
As at 1 April 2025	-	100,698	86,801	25,352	212,851
Provided during the period	964	4,478	16,991	3,614	26,047

As at 31 March 2026	964	105,176	103,792	28,966	238,898

Net Book Value
As at 31 March 2026	22,161	20,442	56,163	5,553	104,319

As at 1 April 2025	-	13,844	42,270	9,167	65,281

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2026	2025
	£	£
Motor Vehicles	-	6,001

5. Stocks

	2026	2025
	£	£
Stock	25,096	27,304
Work in progress	10,871	26,605

	35,967	53,909

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	26,947	23,069
Other debtors	21,254	19,234

	48,201	42,303

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Peerless Fencing Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	78,483	99,028
Bank loans and overdrafts	40,615	10,462
Other creditors	41,048	44,081
Taxation and social security	5,537	7,712

	165,683	161,283

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	-	1,769

9. Secured Creditors

Of the creditors the amounts secured are shown below.

National Westminster Bank PLC hold a specific equitable charge over all freehold and leasehold properties and/or the proceeds of the sale thereof and fixed and floating charges over the undertaking and all property and assets present and future, including goodwill, book debts and uncalled capital.

Net obligations under finance leases and hire purchase contracts are secured on the assets concerned.

	2026		2025
	£		£
Bank loans and overdrafts	1,769		12,231

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	2,500	2,500

11. Pension Commitments

The company operates a defined contribution pension scheme. At the balance sheet date unpaid contributions of (£121) (2025 £560) were due to the fund. They are included in Other Creditors.

12. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mr Christopher Haigh	(6,806 )	(9,251 )	6,293	-	(9,764 )

The above loan is unsecured, interest free and repayable on demand.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		104,319		65,281

			104,319		65,281
CURRENT ASSETS
Stocks	5	35,967		53,909
Debtors	6	48,201		42,303
Cash at bank and in hand		334		18,339

		84,502		114,551
Creditors: Amounts Falling Due Within One Year	7	(165,683 )		(161,283 )

NET CURRENT ASSETS (LIABILITIES)			(81,181 )		(46,732 )

TOTAL ASSETS LESS CURRENT LIABILITIES			23,138		18,549

Creditors: Amounts Falling Due After More Than One Year	8		-		(1,769 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(15,515 )		(13,672 )

NET ASSETS			7,623		3,108

CAPITAL AND RESERVES
Called up share capital	10		2,500		2,500
Capital redemption reserve			2,500		2,500
Profit and Loss Account			2,623		(1,892 )

SHAREHOLDERS' FUNDS			7,623		3,108