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REGISTERED NUMBER: 05546378 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Price & Son Limited

Price & Son Limited (Registered number: 05546378)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Price & Son Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S O Hill
Mrs S Hill





REGISTERED OFFICE: 33 Hill Lane
HAVERFORDWEST
Pembrokeshire
SA611PS





REGISTERED NUMBER: 05546378 (England and Wales)

Price & Son Limited (Registered number: 05546378)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 67,786 13,191

CURRENT ASSETS
Stocks 600 600
Debtors 5 223,635 269,541
Cash at bank and in hand 114,996 95,533
339,231 365,674
CREDITORS
Amounts falling due within one year 6 89,618 78,996
NET CURRENT ASSETS 249,613 286,678
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,399

299,869

CREDITORS
Amounts falling due after more than one year 7 (23,333 ) (33,333 )

PROVISIONS FOR LIABILITIES (12,744 ) (2,341 )
NET ASSETS 281,322 264,195

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 281,320 264,193
SHAREHOLDERS' FUNDS 281,322 264,195

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

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

Price & Son Limited (Registered number: 05546378)

Balance Sheet - continued
31 March 2023


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 10 October 2023 and were signed on its behalf by:




S O Hill - Director



Mrs S Hill - Director


Price & Son Limited (Registered number: 05546378)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Price & Son 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, excluding discounts, rebates, value added tax and other sales taxes.

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, 20% on reducing balance 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

Price & Son Limited (Registered number: 05546378)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Equipment,
Furniture Motor Computer
etc vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 88,927 - 22,424 111,351
Additions - 63,590 1,073 64,663
At 31 March 2023 88,927 63,590 23,497 176,014
DEPRECIATION
At 1 April 2022 81,548 - 16,612 98,160
Charge for year 1,107 5,299 3,662 10,068
At 31 March 2023 82,655 5,299 20,274 108,228
NET BOOK VALUE
At 31 March 2023 6,272 58,291 3,223 67,786
At 31 March 2022 7,379 - 5,812 13,191

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 33,326 61,564
Work-in-progress 37,049 47,916
Other debtors 37,650 31,854
Directors' current accounts 69,580 82,501
Prepayments 46,030 45,706
223,635 269,541

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 8,333 8,333
Taxation and social security 75,584 65,286
Other creditors 5,701 5,377
89,618 78,996

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 23,333 33,333

Price & Son Limited (Registered number: 05546378)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 4,782 4,782
Between one and five years 5,075 11,557
9,857 16,339

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
W D Hill
Balance outstanding at start of year 45,030 45,189
Amounts advanced 9,910 54,841
Amounts repaid (54,940 ) (55,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 45,030

S O Hill
Balance outstanding at start of year 37,471 52,824
Amounts advanced 96,053 39,863
Amounts repaid (80,521 ) (55,216 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,003 37,471

Mrs S Hill
Balance outstanding at start of year - -
Amounts advanced 40,077 -
Amounts repaid (23,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,577 -

The directors pay interest at the official HMRC rate in respect of all loans from the company.