Prestwich Plastering Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02177164 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

PRESTWICH PLASTERING LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

O M Hetta

Miss N Shah

SECRETARY:

Miss N Shah

REGISTERED OFFICE:

Vanguard House

Merchants Quay

Salford Quays

Salford

Gtr Manchester

M50 3ST

REGISTERED NUMBER:

02177164 (England and Wales)

ACCOUNTANTS:

Allens Accountants Limited

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Tangible assets

4

44,439

49,462

CURRENT ASSETS

Debtors

5

285,727

591,255

Cash at bank

2,192,240

1,733,190

2,477,967

2,324,445

CREDITORS

Amounts falling due within one year

6

1,867,672

1,726,156

NET CURRENT ASSETS

610,295

598,289

TOTAL ASSETS LESS CURRENT LIABILITIES

654,734

647,751

PROVISIONS FOR LIABILITIES

7

2,673

2,360

NET ASSETS

652,061

645,391

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

651,961

645,291

SHAREHOLDERS' FUNDS

652,061

645,391

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th August 2023 and were signed on its behalf by:

O M Hetta - Director

1.	STATUTORY INFORMATION

Prestwich Plastering 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, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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

-

25% on cost, 15% on cost and 15% on reducing balance

Taxation

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

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

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 7 (2022 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2022

207,560

Additions

13,111

At 31st March 2023

220,671

DEPRECIATION

At 1st April 2022

158,098

Charge for year

18,134

At 31st March 2023

176,232

NET BOOK VALUE

At 31st March 2023

44,439

At 31st March 2022

49,462

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

268,439

566,659

Amounts owed by group undertakings

9,333

14,158

Other debtors

7,955

10,438

285,727

591,255

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

1,410,193

1,051,346

Taxation and social security

29,874

36,403

Other creditors

427,605

638,407

1,867,672

1,726,156

7.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

Capital allowances in excess of depreciation

2,673

2,360

Deferred

tax

£

Balance at 1st April 2022

2,360

Charge to Statement of Income and Retained Earnings during year

313

Balance at 31st March 2023

2,673

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

90

Ordinary

1

90

90

10

Ordinary A

1

10

10

100

100

9.	ULTIMATE PARENT COMPANY

The company is owned by Hetta Holdings Limited by way of its 90% shareholding.