P S Design & Build Limited - Period Ending 2017-04-30

Registration number: 09528762

P S Design & Build Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2017

WWH (Harrogate) Limited
Royal House
110 Station Parade
Harrogate
North Yorkshire
HG1 1EP

P S Design & Build Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 5

P S Design & Build Limited

Company Information

Directors

Mrs Susan Pearson Mr Philip Down

Registered office

Dove Cottage Moat Farm Gribthorpe Goole Yorkshire DN14 7NT

Accountants

WWH (Harrogate) Limited Royal House 110 Station Parade Harrogate North Yorkshire HG1 1EP

Page 1

P S Design & Build Limited

(Registration number: 09528762)
Balance Sheet as at 30 April 2017

	Note	2017 £	2016 £
Fixed assets
Investment property	3	346,329	151,461
Current assets
Stocks	4	-	20,350
Cash at bank and in hand		22,197	331,402
		22,197	351,752
Creditors: Amounts falling due within one year	5	(234,167)	(475,711)
Net current liabilities		(211,970)	(123,959)
Net assets		134,359	27,502
Capital and reserves
Called up share capital		100	100
Profit and loss account		134,259	27,402
Total equity		134,359	27,502

For the financial year ending 30 April 2017 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 December 2017 and signed on its behalf by:
 

.........................................

Mrs Susan Pearson

Director

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

P S Design & Build Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Dove Cottage
Moat Farm
Gribthorpe
Goole
Yorkshire
DN14 7NT

These financial statements were authorised for issue by the Board on 19 December 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually, using observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. The surplus or deficit on revaluation is recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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P S Design & Build Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Stocks

The cost of work in progress comprises costs that have been incurred to date on purchasing a property under development, with a view to selling upon completion.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Investment properties

	2017 £
At 1 May	151,461
Investment properties	194,868
At 30 April	346,329

Investment property is carried at fair value as determined by the directors.

There has been no valuation of investment property by an independent valuer.

4

Stocks

	2017 £	2016 £
Properties under construction held for resale	-	20,350

Page 4

P S Design & Build Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

5

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Bank loans and overdrafts	7	203,390	467,060
Taxation and social security		26,577	6,851
Other creditors		4,200	1,800
		234,167	475,711

6	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

7	Loans and borrowings

	2017 £	2016 £
Current loans and borrowings
Other borrowings	203,390	467,060

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