Company No: 03119775 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	V Clift
	S Edwards

REGISTERED OFFICE	Roentgen Court
	Roentgen Road
	Basingstoke
	Hampshire
	RG24 8NT
	United Kingdom

COMPANY NUMBER

03119775 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	4th Floor EQ Building
	111 Victoria Street
	Redcliffe
	Bristol
	BS1 6AX

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	174,698		216,656
		174,698		216,656
Current assets
Stocks	4	228,161		160,000
Debtors	5	3,278,414		2,286,013
Cash at bank and in hand		538,872		375,462
		4,045,447		2,821,475
Creditors: amounts falling due within one year	6	( 2,848,453)		( 1,902,294)
Net current assets		1,196,994		919,181
Total assets less current liabilities		1,371,692		1,135,837
Creditors: amounts falling due after more than one year	7	( 88,990)		( 97,397)
Provision for liabilities		( 27,522)		( 37,296)
Net assets		1,255,180		1,001,144
Capital and reserves
Called-up share capital		282		282
Capital redemption reserve		24		24
Profit and loss account		1,254,874		1,000,838
Total shareholders' funds		1,255,180		1,001,144

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.

Directors' 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 directors acknowledge 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of P.B. Edwards Plastering and Drylining Limited (registered number: 03119775) were approved and authorised for issue by the Board of Directors on 26 October 2026. They were signed on its behalf by:

S Edwards 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

P.B. Edwards Plastering and Drylining Limited (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 Roentgen Court, Roentgen Road, Basingstoke, Hampshire, RG24 8NT, United Kingdom.

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed the Company’s ability to continue as a going concern, taking into account its financial position, available cash resources, expected future trading performance and the principal risks facing the business.

As part of this assessment, the directors have prepared and reviewed cash flow projections covering a period of at least twelve months from the date of approval of these financial statements. These projections include expected revenues from live contracts in place following the year end, together with forecast operating costs and anticipated cash flows.

Having considered these forecasts and the Company’s contracted revenue position, the directors are satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the going concern basis of accounting has been adopted in preparing these financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue represents the amounts receivable for works carried out, including materials supplied, during the year. In the case of long term contracts, revenue represents the proportion of contract value applicable to the activity in the year, ascertained by reference to the costs incurred to date.

Contracts are reviewed at year end and provisions made for any onerous contracts are recognised through profit and loss.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings 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 Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

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 reporting date.

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 average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. 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 assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 Statement of Income and Retained Earnings 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 creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Statement of Financial Position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	17		16

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 November 2024	249,077		201,983		5,000		456,060
Additions	45,972		0		0		45,972
Disposals	( 191,245)		0		0		( 191,245)
At 31 October 2025	103,804		201,983		5,000		310,787
Accumulated depreciation
At 01 November 2024	176,007		61,397		2,000		239,404
Charge for the financial year	22,336		35,147		750		58,233
Disposals	( 161,548)		0		0		( 161,548)
At 31 October 2025	36,795		96,544		2,750		136,089
Net book value
At 31 October 2025	67,009		105,439		2,250		174,698
At 31 October 2024	73,070		140,586		3,000		216,656

Included in motor vehicles above is an amount of £30,995 (2024 - £13,467) that relates to assets held under finance agreements. Depreciation on these assets amounted to £3,367 (2024 - £14,581) during the year.

4. Stocks

	2025		2024
	£		£
Stocks	150,000		150,000
Finished goods	78,161		10,000
	228,161		160,000

5. Debtors

	2025		2024
	£		£
Trade debtors	2,635,028		1,691,362
Amounts owed by directors	119,510		0
Prepayments and accrued income	476,555		594,651
VAT recoverable	47,321		0
	3,278,414		2,286,013

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	931,400		1,000,602
Amounts owed to related parties	290,239		177,658
Accruals and deferred income	545,159		216,202
Taxation and social security	562,744		330,702
Obligations under finance leases and hire purchase contracts	18,884		29,361
Other creditors	500,027		147,769
	2,848,453		1,902,294

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

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	88,990		97,397

Obligations under finance leases and hire purchases contracts are secured on the assets to which they relate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	11,193		34,821

8. Related party transactions

At 31 October 2025 the Company was owed £19,510 (2024 - £Nil) by one of the directors. During the year interest of £175 (2024 - £Nil) was charged at a rate of 3.75%pa.

At 31 October 2025 the Company was owed £100,000 (2024 - £Nil) by one of the directors. During the year interest of £Nil (2024 - £24,720) was charged at a rate of 4.48%pa.

At 31 October 2025 the Company owed a company under common control £95,409 (2024 - £95,409). This loan is interest free and repayable on demand.

At 31 October 2025, the Company owed £194,830 (2024 - £82,249) to a company controlled by a member of key management personnel. During the year ended 31 October 2025, the Company made payments totalling £216,000 (2024 - £192,000) to the company controlled by a member of key management personnel.