Penrhyn Paving Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 5405083

PENRHYN PAVING LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2025

PENRHYN PAVING LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		172,563	193,785

Current assets

Stocks		21,500	10,000
Debtors	6	52,453	75,774
Cash at bank and in hand		170,322	398,374
		---------	---------
		244,275	484,148

Creditors: amounts falling due within one year	7	29,406		37,667
		---------		---------
Net current assets			214,869	446,481
			---------	---------
Total assets less current liabilities			387,432	640,266

Creditors: amounts falling due after more than one year	8		7,093	16,967

Provisions

Taxation including deferred tax	29,053	33,085
	---------	---------
Net assets	351,286	590,214
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	351,186	590,114
	---------	---------
Shareholders funds	351,286	590,214
	---------	---------

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 statement of comprehensive income has not been delivered.

For the year ending 31 March 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 .

PENRHYN PAVING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 11 November 2025 , and are signed on behalf of the board by:

Mr B D Sweeney
Director

Company registration number: 5405083

PENRHYN PAVING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bryn Eirian, Penrhyndeudraeth, Gwynedd, LL48 6BA.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

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

Taxation

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 accounts. 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 current rates and laws.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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
Motor vehicles	-	25% reducing balance
Equipment	-	15% reducing balance

Impairment of fixed assets

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.

Stocks

Stocks are valued at cost and work in progress is valued at cost of labour not invoiced.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. Tangible assets

	Land and buildings	Diggers & tractors	Motor vehicles	Plant, machinery & equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	19,655	208,461	128,237	177,878	534,231
Additions	–	–	–	9,628	9,628
Disposals	–	–	( 3,250)	–	( 3,250)
	--------	---------	---------	---------	---------
At 31 March 2025	19,655	208,461	124,987	187,506	540,609
	--------	---------	---------	---------	---------
Depreciation
At 1 April 2024	–	132,781	104,264	103,401	340,446
Charge for the year	–	11,554	5,764	12,615	29,933
Disposals	–	–	( 2,333)	–	( 2,333)
	--------	---------	---------	---------	---------
At 31 March 2025	–	144,335	107,695	116,016	368,046
	--------	---------	---------	---------	---------
Carrying amount
At 31 March 2025	19,655	64,126	17,292	71,490	172,563
	--------	---------	---------	---------	---------
At 31 March 2024	19,655	75,680	23,973	74,477	193,785
	--------	---------	---------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	23,848	60,721
Other debtors	28,605	15,053
	--------	--------
	52,453	75,774
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	9,595	9,595
Trade creditors	13,674	15,584
Social security and other taxes	3,137	1,397
Other creditors	3,000	11,091
	--------	--------
	29,406	37,667
	--------	--------

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

	2025	2024
	£	£
Bank loans and overdrafts	7,093	16,967
	-------	--------

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	Amounts repaid	Balance outstanding
	£	£	£	£
Mr B D Sweeney	( 6,591)	147,986	( 170,000)	( 28,605)
	-------	---------	---------	--------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr B D Sweeney	( 5,085)	–	( 1,506)	( 6,591)
	-------	----	-------	-------