Company Registration No. 07139691 (England and Wales)
C. Putnam and Sons Ltd
Unaudited accounts
for the year ended 31 March 2023
C. Putnam and Sons Ltd
Unaudited accounts
Contents
C. Putnam and Sons Ltd
Company Information
for the year ended 31 March 2023
Directors
Mr S C Putnam
Mrs G M Hyde
Company Number
07139691 (England and Wales)
Registered Office
c/o Power Team Accountants Ltd
The Limes, Bayshill Road
Cheltenham
GL30 3AW
United Kingdom
C. Putnam and Sons Ltd
Statement of financial position
as at 31 March 2023
Intangible assets
9,408
38,708
Tangible assets
925,370
897,686
Cash at bank and in hand
246,650
195,830
Creditors: amounts falling due within one year
(314,351)
(329,303)
Net current assets
494,853
450,747
Total assets less current liabilities
1,429,631
1,387,141
Creditors: amounts falling due after more than one year
(24,972)
(91,772)
Provisions for liabilities
Deferred tax
(232,117)
(224,421)
Net assets
1,172,542
1,070,948
Called up share capital
100
100
Profit and loss account
1,172,442
1,070,848
Shareholders' funds
1,172,542
1,070,948
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 22 October 2023 and were signed on its behalf by
Mrs G M Hyde
Director
Company Registration No. 07139691
C. Putnam and Sons Ltd
Notes to the Accounts
for the year ended 31 March 2023
C. Putnam and Sons Ltd is a private company, limited by shares, registered in England and Wales, registration number 07139691. The registered office is c/o Power Team Accountants Ltd, The Limes, Bayshill Road, Cheltenham, GL30 3AW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared 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 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill
allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Motor vehicles
25% on reducing balance
C. Putnam and Sons Ltd
Notes to the Accounts
for the year ended 31 March 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Goodwill
Charge for the year
29,300
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2022
1,725,069
4,217
1,729,286
Additions
272,650
-
272,650
Disposals
(104,599)
-
(104,599)
At 31 March 2023
1,893,120
4,217
1,897,337
At 1 April 2022
828,445
3,155
831,600
Charge for the year
206,742
265
207,007
On disposals
(66,640)
-
(66,640)
At 31 March 2023
968,547
3,420
971,967
At 31 March 2023
924,573
797
925,370
At 31 March 2022
896,624
1,062
897,686
C. Putnam and Sons Ltd
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Trade debtors
494,677
433,815
Accrued income and prepayments
23,811
11,371
Other debtors
43,843
120,283
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Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
79,054
87,738
Trade creditors
40,381
187,281
Taxes and social security
54,510
(2,631)
Loans from directors
52,076
34,564
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
24,972
91,772
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Average number of employees
During the year the average number of employees was 9 (2022: 10).