P M Groundworks (SW) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07809459 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2020

for

P M Groundworks (SW) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P R Mayhead

REGISTERED OFFICE:

12 Whiteladies Road

Clifton

Bristol

BS8 1PD

REGISTERED NUMBER:

07809459 (England and Wales)

ACCOUNTANTS:

Pure Professionals Limited

Chartered Accountants & Tax Advisers

12 Whiteladies Road

Clifton

Bristol

BS8 1PD

FIXED ASSETS

Intangible assets

4

2,530

5,060

Tangible assets

5

81,746

101,191

84,276

106,251

CURRENT ASSETS

Stocks

456,473

231,284

Debtors

6

303,681

330,059

Cash at bank and in hand

165,025

352,369

925,179

913,712

CREDITORS

Amounts falling due within one year

7

432,238

414,101

NET CURRENT ASSETS

492,941

499,611

TOTAL ASSETS LESS CURRENT LIABILITIES

577,217

605,862

CREDITORS

Amounts falling due after more than one year

8

(84,724

)

(53,227

)

PROVISIONS FOR LIABILITIES

(15,535

)

(19,229

)

NET ASSETS

476,958

533,406

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

476,858

533,306

SHAREHOLDERS' FUNDS

476,958

533,406

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21 July 2021 and were signed by:

P R Mayhead - Director

1.	STATUTORY INFORMATION

P M Groundworks (SW) 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.

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 2011, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2019 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2019

and 31 October 2020

25,300

AMORTISATION

At 1 November 2019

20,240

Amortisation for year

2,530

At 31 October 2020

22,770

NET BOOK VALUE

At 31 October 2020

2,530

At 31 October 2019

5,060

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2019

35,494

1,305

131,893

12,939

181,631

Additions

-

-

7,000

717

7,717

At 31 October 2020

35,494

1,305

138,893

13,656

189,348

DEPRECIATION

At 1 November 2019

23,640

647

47,305

8,848

80,440

Charge for year

2,964

99

22,897

1,202

27,162

At 31 October 2020

26,604

746

70,202

10,050

107,602

NET BOOK VALUE

At 31 October 2020

8,890

559

68,691

3,606

81,746

At 31 October 2019

11,854

658

84,588

4,091

101,191

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 November 2019

and 31 October 2020

119,389

DEPRECIATION

At 1 November 2019

40,960

Charge for year

15,153

At 31 October 2020

56,113

NET BOOK VALUE

At 31 October 2020

63,276

At 31 October 2019

78,429

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Trade debtors

237,783

316,531

Other debtors

65,898

13,528

303,681

330,059

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Hire purchase contracts

18,995

35,176

Trade creditors

309,985

243,270

Amounts owed to group undertakings

27,829

92,377

Taxation and social security

60,052

36,322

Other creditors

15,377

6,956

432,238

414,101

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.20

31.10.19

£

£

Bank loans

50,000

-

Hire purchase contracts

34,724

53,227

84,724

53,227

9.	RELATED PARTY DISCLOSURES

As at 31 October 2020 the amount of £27,829 (2019 - £92,377) was owed to a group undertaking being PM Plant Hire (SW) Limited.