Prospec Construction Ltd 30/11/2025 iXBRL

Company registration number: 10473114

Prospec Construction Ltd

Unaudited filleted financial statements

30 November 2025

Prospec Construction Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Prospec Construction Ltd

Directors and other information


	Directors	Mr Jonathan Clive ASHALL
		Mr John SHERRY


	Company number	10473114


	Registered office	749a Ormskirk Road
		Wigan
		WN5 8AT


	Business address	749a Ormskirk Road
		Wigan
		WN5 8AT


	Accountants	Practical Business Solutions (NW) Limited
		749a Ormskirk Road
		Wigan
		WN5 8AT

Prospec Construction Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Prospec Construction Ltd

Year ended 30 November 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Prospec Construction Ltd for the year ended 30 November 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants , we are subject to its ethical and other professional requirements which are detailed at www.cimaglobal.com.

This report is made solely to the board of directors of Prospec Construction Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Prospec Construction Ltd and state those matters that we have agreed to state to the board of directors of Prospec Construction Ltd as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prospec Construction Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Prospec Construction Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Prospec Construction Ltd. You consider that Prospec Construction Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Prospec Construction Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Practical Business Solutions (NW) Limited

Chartered Global Management Accountant

749a Ormskirk Road

Wigan

WN5 8AT

25 August 2026

Prospec Construction Ltd

Statement of financial position

30 November 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	26,346		34,018
		_______		_______
			26,346		34,018

Current assets
Debtors	6	46,406		35,093
Cash at bank and in hand		29,071		14,067
		_______		_______
		75,477		49,160
Creditors: amounts falling due
within one year	7	( 41,258)		( 44,984)
		_______		_______
Net current assets			34,219		4,176
			_______		_______
Total assets less current liabilities			60,565		38,194

Creditors: amounts falling due
after more than one year	8		( 21,898)		-
			_______		_______
Net assets			38,667		38,194
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			38,665		38,192
			_______		_______
Shareholders funds			38,667		38,194
			_______		_______

For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 25 August 2026 , and are signed on behalf of the board by:

Mr John SHERRY

Director

Company registration number: 10473114

Prospec Construction Ltd

Notes to the financial statements

Year ended 30 November 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is 749a Ormskirk Road, Wigan, WN5 8AT.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	15 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Staff costs

The average number of persons employed by the company during the year amounted to 2 (2024: 5 ).

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	37,166	71,609
Social security costs	( 46)	182
	_______	_______
	37,120	71,791
	_______	_______

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 December 2024 and 30 November 2025	16,735	2,621	49,473	68,829
	_______	_______	_______	_______
Depreciation
At 1 December 2024	10,493	951	23,367	34,811
Charge for the year	936	210	6,526	7,672
	_______	_______	_______	_______
At 30 November 2025	11,429	1,161	29,893	42,483
	_______	_______	_______	_______
Carrying amount
At 30 November 2025	5,306	1,460	19,580	26,346
	_______	_______	_______	_______
At 30 November 2024	6,242	1,670	26,106	34,018
	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Other debtors	46,406	35,093
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	1,668	3,800
Trade creditors	16,696	25,898
Corporation tax	14,823	11,699
Social security and other taxes	5,148	-
Other creditors	2,923	3,587
	_______	_______
	41,258	44,984
	_______	_______

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

	2025	2024
	£	£
Bank loans and overdrafts	765	-
Other creditors	21,133	-
	_______	_______
	21,898	-
	_______	_______

9. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Jonathan Clive ASHALL	-	9,007	9,007
	Mr John SHERRY	-	9,492	9,492
		_______	_______	_______
		-	18,499	18,499
		_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Jonathan Clive ASHALL	-	-	-
	Mr John SHERRY	-	-	-
		_______	_______	_______

The directors loans wre repaid in full within 9 months of the year end