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Company Registration No. 02112939 (England and Wales)
Pearce & Co. (Chertsey) Limited Unaudited accounts for the year ended 31 March 2023
Pearce & Co. (Chertsey) Limited Unaudited accounts Contents
Page
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Pearce & Co. (Chertsey) Limited Company Information for the year ended 31 March 2023
Directors
Mr S J Hall Mr R Jamieson Mr G Parry
Secretary
Mr S J Hall
Company Number
02112939 (England and Wales)
Registered Office
64 Guildford Street Chertsey Surrey KT16 9BD
Accountants
Wellden Turnbull Limited Albany House Claremont Lane Esher Surrey KT10 9FQ
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Pearce & Co. (Chertsey) Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
325,000 
375,000 
Tangible assets
29,470 
20,593 
354,470 
395,593 
Current assets
Debtors
38,984 
40,485 
Cash at bank and in hand
264,131 
175,209 
303,115 
215,694 
Creditors: amounts falling due within one year
(163,229)
(180,339)
Net current assets
139,886 
35,355 
Total assets less current liabilities
494,356 
430,948 
Creditors: amounts falling due after more than one year
(24,318)
(39,281)
Net assets
470,038 
391,667 
Capital and reserves
Called up share capital
111 
100 
Share premium
24,989 
- 
Profit and loss account
444,938 
391,567 
Shareholders' funds
470,038 
391,667 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by
Mr S J Hall Director Company Registration No. 02112939
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Pearce & Co. (Chertsey) Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Pearce & Co. (Chertsey) Limited is a private company, limited by shares, registered in England and Wales, registration number 02112939. The registered office is 64 Guildford Street, Chertsey, Surrey, KT16 9BD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Presentation currency
The accounts are presented in £ sterling, and rounded to the nearest £.
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: 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.
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Pearce & Co. (Chertsey) Limited Notes to the Accounts for the year ended 31 March 2023
Tangible fixed assets and depreciation
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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the Reducing balance method. The estimated useful lives range as follows:
Motor vehicles
25 % reducing balance
Fixtures & fittings
25 % reducing balance
Computer equipment
25 % reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is amortised over its estimated useful life of 10 years.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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 insignificant risk of change in value.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Creditors
Short term creditors are measured at the transaction price.
Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
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Pearce & Co. (Chertsey) Limited Notes to the Accounts for the year ended 31 March 2023
Pension costs
Defined contribution pension plan: 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 in the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Interest income
Interest income is recognised in the statement of comprehensive income using the effective interest method.
Government grants
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
500,000 
At 31 March 2023
500,000 
Amortisation
At 1 April 2022
125,000 
Charge for the year
50,000 
At 31 March 2023
175,000 
Net book value
At 31 March 2023
325,000 
At 31 March 2022
375,000 
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Pearce & Co. (Chertsey) Limited Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
5,433 
- 
30,970 
36,403 
Additions
- 
835 
15,365 
16,200 
Disposals
- 
- 
(1,912)
(1,912)
At 31 March 2023
5,433 
835 
44,423 
50,691 
Depreciation
At 1 April 2022
2,758 
- 
13,052 
15,810 
Charge for the year
668 
- 
5,949 
6,617 
On disposals
- 
- 
(1,206)
(1,206)
At 31 March 2023
3,426 
- 
17,795 
21,221 
Net book value
At 31 March 2023
2,007 
835 
26,628 
29,470 
At 31 March 2022
2,675 
- 
17,918 
20,593 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
19,663 
20,330 
Accrued income and prepayments
19,321 
20,155 
38,984 
40,485 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
9,433 
33,049 
Trade creditors
2,466 
2,060 
Taxes and social security
119,269 
108,808 
Other creditors
1,653 
1,137 
Accruals
30,408 
35,285 
163,229 
180,339 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
24,318 
39,281 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
11 Share issued of £1 each
11 
11 
111 
111 
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Pearce & Co. (Chertsey) Limited Notes to the Accounts for the year ended 31 March 2023
10
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
3,125 
3,958 
11
Average number of employees
During the year the average number of employees was 8 (2022: 10).
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