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REGISTERED NUMBER: 01009113 (England and Wales)


















Unaudited Financial Statements

for the Period 4th April 2021 to 2nd April 2022

for

A.E. POXON & SONS LIMITED

A.E. POXON & SONS LIMITED (REGISTERED NUMBER: 01009113)

Contents of the Financial Statements
for the period 4th April 2021 to 2nd April 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.E. POXON & SONS LIMITED

Company Information
for the period 4th April 2021 to 2nd April 2022







DIRECTORS: G A Poxon
N A Poxon
C G Poxon





SECRETARY: G A Poxon





REGISTERED OFFICE: 27 High Street
Brownhills
West Midlands
WS8 6EF





REGISTERED NUMBER: 01009113 (England and Wales)





ACCOUNTANTS: DJH Mitten Clarke
(The practising name of
Baker (Midlands) Limited)
3rd Floor
International House
Hatherton Street
Walsall
WS4 2LA

A.E. POXON & SONS LIMITED (REGISTERED NUMBER: 01009113)

Balance Sheet
2nd April 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 633,838 608,416

CURRENT ASSETS
Stocks 110,247 99,619
Debtors 5 252,900 250,463
Cash at bank and in hand 99,511 95,251
462,658 445,333
CREDITORS
Amounts falling due within one year 6 277,190 254,977
NET CURRENT ASSETS 185,468 190,356
TOTAL ASSETS LESS CURRENT LIABILITIES 819,306 798,772

CREDITORS
Amounts falling due after more than one
year

7

(2,351

)

(18,344

)

PROVISIONS FOR LIABILITIES (25,000 ) (19,000 )
NET ASSETS 791,955 761,428

CAPITAL AND RESERVES
Called up share capital 9 40,000 40,000
Share premium 139,993 139,993
Retained earnings 611,962 581,435
SHAREHOLDERS' FUNDS 791,955 761,428

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 2nd April 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 2nd April 2022 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.

A.E. POXON & SONS LIMITED (REGISTERED NUMBER: 01009113)

Balance Sheet - continued
2nd April 2022


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 Board of Directors and authorised for issue on 8th August 2022 and were signed on its behalf by:




N A Poxon - Director



C G Poxon - Director


A.E. POXON & SONS LIMITED (REGISTERED NUMBER: 01009113)

Notes to the Financial Statements
for the period 4th April 2021 to 2nd April 2022


1. STATUTORY INFORMATION

A.E. Poxon & 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those estimates.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue from the sale of goods when all the following conditions are satisfied:

(a) the company has transferred to the buyer the significant risks and rewards of ownership of the goods;
(b) the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
(c) the amount of revenue can be measured reliably;
(d) it is probable that the economic benefits associated with the transaction will flow to the company; and
(e) the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any 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.

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

A.E. POXON & SONS LIMITED (REGISTERED NUMBER: 01009113)

Notes to the Financial Statements - continued
for the period 4th April 2021 to 2nd April 2022


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stocks are recognised as an expense in the period in which the related turnover is recognised.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the stock to its present location and condition. The cost of finished goods and work in progress includes raw materials, direct labour and other direct costs and related production overheads (based on normal operating capacity).

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

Taxation
Taxation for the period 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 period 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.

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

A.E. POXON & SONS LIMITED (REGISTERED NUMBER: 01009113)

Notes to the Financial Statements - continued
for the period 4th April 2021 to 2nd April 2022


2. ACCOUNTING POLICIES - continued

Employee benefits
The company provides a range of benefits to employees, including annual bonus arrangements and defined contribution pension plans.

i. Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

ii. Defined contribution pension plans

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents
Cash comprise cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with an insignificant risk of change in value.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 33 (2021 - 34 ) .

A.E. POXON & SONS LIMITED (REGISTERED NUMBER: 01009113)

Notes to the Financial Statements - continued
for the period 4th April 2021 to 2nd April 2022


4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 4th April 2021 540,905 206,766 96,654 844,325
Additions - 35,434 27,300 62,734
Disposals - - (11,250 ) (11,250 )
At 2nd April 2022 540,905 242,200 112,704 895,809
DEPRECIATION
At 4th April 2021 32,454 165,767 37,688 235,909
Charge for period 5,409 14,013 17,484 36,906
Eliminated on disposal - - (10,844 ) (10,844 )
At 2nd April 2022 37,863 179,780 44,328 261,971
NET BOOK VALUE
At 2nd April 2022 503,042 62,420 68,376 633,838
At 3rd April 2021 508,451 40,999 58,966 608,416

Included in cost of land and buildings is freehold land of £ 270,453 (2021 - £ 270,453 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 4th April 2021
and 2nd April 2022 64,454
DEPRECIATION
At 4th April 2021 17,190
Charge for period 11,816
At 2nd April 2022 29,006
NET BOOK VALUE
At 2nd April 2022 35,448
At 3rd April 2021 47,264

A.E. POXON & SONS LIMITED (REGISTERED NUMBER: 01009113)

Notes to the Financial Statements - continued
for the period 4th April 2021 to 2nd April 2022


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 204,976 215,422
Other debtors 47,924 35,041
252,900 250,463

Included in other debtors are prepayments of £9,459 (2021: £4,152).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Hire purchase contracts 15,995 17,091
Trade creditors 129,700 117,885
Taxation and social security 48,010 51,259
Other creditors 83,485 68,742
277,190 254,977

Included in other creditors are accruals of £83,485 (2021: £68,742).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Hire purchase contracts 2,351 18,344

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 18,346 35,435

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
18,000 A Ordinary Shares £1 18,000 18,000
22,000 B Ordinary Shares £1 22,000 22,000
40,000 40,000

A.E. POXON & SONS LIMITED (REGISTERED NUMBER: 01009113)

Notes to the Financial Statements - continued
for the period 4th April 2021 to 2nd April 2022


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the periods ended 2nd April 2022 and 3rd April 2021:

2022 2021
£    £   
N A Poxon
Balance outstanding at start of period 8,915 8,915
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 8,915 8,915

C G Poxon
Balance outstanding at start of period 8,900 8,900
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 8,900 8,900

11. FINANCIAL COMMITMENTS

Total financial commitments under non-cancellable operating leases which are not included in the balance sheet amount to £209,294 (2021: £189,375).