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REGISTERED NUMBER: 00789680 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2018

for

Pritchard & Sons Limited

Pritchard & Sons Limited (Registered number: 00789680)

Contents of the Financial Statements
for the year ended 31 March 2018










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Pritchard & Sons Limited

Company Information
for the year ended 31 March 2018







Directors: I R Gardiner
E J Pritchard
C A Lane





Registered office: 9 King Street
Hereford
HR4 9BW





Registered number: 00789680 (England and Wales)





Accountants: Acre Accountancy Limited
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Pritchard & Sons Limited (Registered number: 00789680)

Abridged Balance Sheet
31 March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 506 1,015
Tangible assets 5 86,175 106,879
86,681 107,894

CURRENT ASSETS
Stocks 292,484 327,002
Debtors 30,452 18,539
Cash at bank and in hand 15,889 19,697
338,825 365,238
CREDITORS
Amounts falling due within one year 163,754 158,383
NET CURRENT ASSETS 175,071 206,855
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,752

314,749

CREDITORS
Amounts falling due after more than one
year

6

(51,517

)

(62,347

)

PROVISIONS FOR LIABILITIES (1,063 ) (2,054 )
NET ASSETS 209,172 250,348

CAPITAL AND RESERVES
Called up share capital 9 5,862 5,862
Retained earnings 203,310 244,486
209,172 250,348

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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.

Pritchard & Sons Limited (Registered number: 00789680)

Abridged Balance Sheet - continued
31 March 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 25 October 2018 and were signed on its behalf by:





E J Pritchard - Director


Pritchard & Sons Limited (Registered number: 00789680)

Notes to the Financial Statements
for the year ended 31 March 2018


1. STATUTORY INFORMATION

Pritchard & Sons 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. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost and 10% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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.

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 Profit and Loss Account,
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.


Pritchard & Sons Limited (Registered number: 00789680)

Notes to the Financial Statements - continued
for the year ended 31 March 2018


3. ACCOUNTING POLICIES - continued
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.

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.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement.
They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. INTANGIBLE FIXED ASSETS
Totals
£   
Cost
At 1 April 2017
and 31 March 2018 5,087
Amortisation
At 1 April 2017 4,072
Amortisation for year 509
At 31 March 2018 4,581
Net book value

At 31 March 2018 506
At 31 March 2017 1,015

Pritchard & Sons Limited (Registered number: 00789680)

Notes to the Financial Statements - continued
for the year ended 31 March 2018


5. TANGIBLE FIXED ASSETS
Totals
£   
Cost
At 1 April 2017 393,377
Additions 2,217
At 31 March 2018 395,594
Depreciation
At 1 April 2017 286,498
Charge for year 22,921
At 31 March 2018 309,419
Net book value
At 31 March 2018 86,175
At 31 March 2017 106,879

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2018 2017
£    £   
Repayable by instalments
Bank loans payable after more than 5 years
by instalments

10,781

24,537

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2018 2017
£    £   
Net obligations repayable:
Within one year - 6,982

Non-cancellable operating
leases
2018 2017
£    £   
Within one year 33,058 32,866
Between one and five years 69,501 101,438
102,559 134,304

Pritchard & Sons Limited (Registered number: 00789680)

Notes to the Financial Statements - continued
for the year ended 31 March 2018


8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 61,701 71,799
Hire purchase contracts - 6,982
61,701 78,781

Lloyds Bank PLC holds a debenture including a fixed and floating charge dated 6 September 2013.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid: 2015 2014

Number

Class
Nominal
Value

£


£
3,800 Ordinary £1 £1 3,800 3,800
1,170 Ordinary A £1 1,170 1,170
800 Ordinary B £1 880 880
1,200 Ordinary C 1p 12 12
5,862 5,862

10. RELATED PARTY DISCLOSURES

During the year rent of £28,000 (2017: £28,000) was paid by the company to Mr E Pritchard, a director and
shareholder.