P & P BUILDING AND ROOFING CONTRACTORS L - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04012850 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2019

for

P & P BUILDING AND ROOFING CONTRACTORS

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Jones

S Flay

SECRETARY:

Mrs E C E Jones

REGISTERED OFFICE:

72 Caerau Road

Newport

South Wales

NP20 4HJ

REGISTERED NUMBER:

04012850 (England and Wales)

ACCOUNTANTS:

Phil Bessant Limited

Chartered Management Accountants

72 Caerau Road

Newport

SOUTH WALES

NP20 4HJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,389,381

1,626,863

1,389,381

1,626,863

CURRENT ASSETS

Stocks

626,627

525,839

Debtors

6

591,050

1,095,617

Cash at bank and in hand

449,915

44,581

1,667,592

1,666,037

CREDITORS

Amounts falling due within one year

7

1,097,612

1,260,940

NET CURRENT ASSETS

569,980

405,097

TOTAL ASSETS LESS CURRENT LIABILITIES

1,959,361

2,031,960

CREDITORS

Amounts falling due after more than one year

8

(431,212

)

(533,089

)

PROVISIONS FOR LIABILITIES

(29,291

)

(29,291

)

NET ASSETS

1,498,858

1,469,580

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

129,442

129,442

Retained earnings

1,369,316

1,340,038

SHAREHOLDERS' FUNDS

1,498,858

1,469,580

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 10 January 2020 and were signed on its behalf by:

P A Jones - Director

1.	STATUTORY INFORMATION

P & P BUILDING AND ROOFING CONTRACTORS LIMITED is a private company, limited by shares ,

registered in England and Wales. The company's registered number and registered office address can be found

on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold Property - 2% on cost

Long Leasehold - 2% on cost

Leasehold Improvements - 2% on cost

Plant & Machinery - 20% on cost

Fixture & Fittings -15% on reducing balance

Motor Vehicles -25% on cost.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 65 (2018 - 60 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2018

and 30 April 2019

19,200

AMORTISATION

At 1 May 2018

and 30 April 2019

19,200

NET BOOK VALUE

At 30 April 2019

-

At 30 April 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2018

957,413

1,888,517

2,845,930

Additions

60,000

78,893

138,893

Disposals

(215,000

)

-

(215,000

)

At 30 April 2019

802,413

1,967,410

2,769,823

DEPRECIATION

At 1 May 2018

91,986

1,127,081

1,219,067

Charge for year

14,444

151,231

165,675

Eliminated on disposal

(4,300

)

-

(4,300

)

At 30 April 2019

102,130

1,278,312

1,380,442

NET BOOK VALUE

At 30 April 2019

700,283

689,098

1,389,381

At 30 April 2018

865,427

761,436

1,626,863

During the 2012 year the property was revalued to £380,000 previously valued at £250,558.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade debtors

271,006

670,135

Other debtors

320,044

425,482

591,050

1,095,617

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Bank loans and overdrafts

-

105,159

Hire purchase contracts

39,222

39,222

Trade creditors

761,507

779,776

Taxation and social security

36,109

77,165

Other creditors

260,774

259,618

1,097,612

1,260,940

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.19

30.4.18

£

£

Bank loans

155,323

155,323

Hire purchase contracts

275,889

377,766

431,212

533,089

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

87,536

87,536

9.

RESERVES

Revaluation

reserve

£

At 1 May 2018

and 30 April 2019

129,442

10.	RELATED PARTY TRANSACTIONS

The company supplied goods and services, by companies listed who are owned in part by the shareholders of

P&P:

Purchased Owed Sold Owed

£ £ £ £

CCSS Limited 53,054 3,989 13,286 1,398

The Lion Hotel Blaenavon Limited 1,368 1,131

The balances owed are as at the year end.