REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2022 |
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PNR CONSTRUCTION LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2022 |
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PNR CONSTRUCTION LTD |
PNR CONSTRUCTION LTD (REGISTERED NUMBER: 04265688) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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PNR CONSTRUCTION LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2022 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Advantage |
87 Castle Street |
Reading |
Berkshire |
RG1 7SN |
PNR CONSTRUCTION LTD (REGISTERED NUMBER: 04265688) |
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BALANCE SHEET |
30 APRIL 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
PNR CONSTRUCTION LTD (REGISTERED NUMBER: 04265688) |
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BALANCE SHEET - continued |
30 APRIL 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved and authorised for issue by the director and authorised for issue on
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PNR CONSTRUCTION LTD (REGISTERED NUMBER: 04265688) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
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1. | STATUTORY INFORMATION |
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PNR Construction Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
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Revenue |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
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Sale of properties |
Revenue from the sale of properties is recognised when all of the following conditions are satisfied: |
- the Company has transferred the significant risks and rewards of ownership to the buyer; |
- the Company retains neither continuing managerial involvement to the degree usually |
associated with ownership nor effective control over the properties sold; |
- the amount of revenue can be measured reliably; |
- it is probable that the Company will receive the consideration due under the transaction, and; |
- the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured |
reliably, and; |
- the costs incurred and the costs to complete the contract can be measured reliably. |
- incidental income arising from properties held for sale, such as rental income are recognised |
over the period to which they relate |
PNR CONSTRUCTION LTD (REGISTERED NUMBER: 04265688) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line basis. |
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Depreciation is provided on the following basis: |
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Short leasehold - 10 years straight line |
Motor Vehicles - 3 years straight line |
Computer equipment - 2-4 years straight line |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
PNR CONSTRUCTION LTD (REGISTERED NUMBER: 04265688) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
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COST |
At 1 May 2021 |
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Additions |
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Disposals |
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At 30 April 2022 |
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DEPRECIATION |
At 1 May 2021 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2022 |
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NET BOOK VALUE |
At 30 April 2022 |
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At 30 April 2021 |
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PNR CONSTRUCTION LTD (REGISTERED NUMBER: 04265688) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under finance leases are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 May 2021 |
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Transfer to ownership | (60,400 | ) |
At 30 April 2022 |
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DEPRECIATION |
At 1 May 2021 |
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Charge for year |
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Transfer to ownership | (60,400 | ) |
At 30 April 2022 |
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NET BOOK VALUE |
At 30 April 2022 |
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At 30 April 2021 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 May 2021 |
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Disposals | ( |
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At 30 April 2022 |
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NET BOOK VALUE |
At 30 April 2022 |
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At 30 April 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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PNR CONSTRUCTION LTD (REGISTERED NUMBER: 04265688) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Finance leases (see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
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Finance leases (see note 9) |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 163,822 |
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Hire purchase liabilities falling due within one year and after one year are secured on the underlying asset. |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Finance leases |
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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PNR CONSTRUCTION LTD (REGISTERED NUMBER: 04265688) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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9. | LEASING AGREEMENTS - continued |
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Non-cancellable |
operating leases |
2022 | 2021 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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10. | RELATED PARTY TRANSACTIONS |
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186 Property Solutions (Southern) Ltd, previously PNR Maintenance Ltd, is an associate of PNR Construction Ltd's parent. During the year the company made sales of £85,613, and made purchases of £84,763, to 186 Property Solutions (Southern) Ltd (2021 - £Nil). At the year end the company was owed £55,623 (2021 - £1,000) from 186 Property Solutions (Southern) Ltd. |
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At the year end P A Ascroft owed £1,111 to the company (2021 - £1,099). The maximum balance that was due during the year was £1,111. |
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11. | ULTIMATE CONTROLLING PARTY |
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The immediate parent and ultimate controlling party is PNR Group Ltd. |