Preisler Construction Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05519613 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020

FOR

PREISLER CONSTRUCTION LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

M Preisler

Mrs K Raj-Preisler

REGISTERED OFFICE:

Unit B2, Birdineye Farm

Birdineye Hill

Uckfield

East Sussex

TN22 5HA

REGISTERED NUMBER:

05519613 (England and Wales)

ACCOUNTANTS:

Perspective Accounting Limited

Unit B2, Birdineye Farm

Birdineye Hill

Uckfield

East Sussex

TN22 5HA

FIXED ASSETS

Tangible assets

4

10,584

658

CURRENT ASSETS

Stocks

3,000

3,000

Debtors

5

68,578

-

Prepayments and accrued income

1,211

1,231

Cash at bank and in hand

200,098

355,864

272,887

360,095

CREDITORS

Amounts falling due within one year

6

91,636

129,393

NET CURRENT ASSETS

181,251

230,702

TOTAL ASSETS LESS CURRENT LIABILITIES

191,835

231,360

CAPITAL AND RESERVES

Called up share capital

999

999

Retained earnings

190,836

230,361

SHAREHOLDERS' FUNDS

191,835

231,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 and authorised for issue on 4 April 2021 and were signed on its behalf by:

M Preisler - Director

1.	STATUTORY INFORMATION

Preisler Construction Ltd. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Going concern

The Financial statements are prepared under a Going Concern basis. The effects and potential future impacts of the Covid-19 pandemic have been considered by the directors and it is felt that these do not impact the Company's ability to continue trading.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2019

13,586

Additions

13,326

Disposals

(100

)

At 31 July 2020

26,812

DEPRECIATION

At 1 August 2019

12,928

Charge for year

3,399

Eliminated on disposal

(99

)

At 31 July 2020

16,228

NET BOOK VALUE

At 31 July 2020

10,584

At 31 July 2019

658

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/20

31/7/19

£

£

Trade debtors

28,814

-

Other debtors

39,764

-

68,578

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/20

31/7/19

£

£

Trade creditors

12,018

52,018

Taxation and social security

61,332

40,824

Other creditors

18,286

36,551

91,636

129,393

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2020 and 31 July 2019:

31/7/20

31/7/19

£

£

M Preisler

Balance outstanding at start of year

-

-

Amounts advanced

80,035

-

Amounts repaid

(72,573

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,462

-

Mrs K Raj-Preisler

Balance outstanding at start of year

-

-

Amounts advanced

79,965

-

Amounts repaid

(72,428

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,537

-

The above loans to the directors are repayable on demand and carry an interest charge of 2.25% during times that the balance exceeded £10,000.

These loans have been repaid on 6 April 2021.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £145,000 were paid to the directors .

During the year, the company provided an interest free loan to Just The Design Limited, a company under common control. The loan totalled £22,000 and is repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M Preisler.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Preisler Construction Ltd. for the year ended 31 July 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Preisler Construction Ltd., as a body, in accordance with the terms of our engagement letter dated 11 March 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Preisler Construction Ltd. and state those matters that we have agreed to state to the Board of Directors of Preisler Construction Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Preisler Construction Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Preisler 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 Preisler Construction Ltd.. You consider that Preisler 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 Preisler 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.

Perspective Accounting Limited

Unit B2, Birdineye Farm

Birdineye Hill

Uckfield

East Sussex

TN22 5HA

12 April 2021