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Registration number: 02939635

William Pitfield and Co Ltd

Annual Report and Unaudited Financial Statements Year Ended 30 September 2023

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Chartered Accountants

 

William Pitfield and Co Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

William Pitfield and Co Ltd

Company Information

Director

Mr Stephen William Paul Steadman

Company secretary

Mrs Kathleen Hobbs

Registered office

24 Balmoral Crescent
Dorchester
Dorset
DT1 2BW

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
William Pitfield and Co Ltdfor the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of William Pitfield and Co Ltd for the year ended 30 September 2023 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of William Pitfield and Co Ltd, as a body, in accordance with the terms of our engagement letter dated 5 November 2012. Our work has been undertaken solely to prepare for your approval the accounts of William Pitfield and Co Ltd and state those matters that we have agreed to state to the Board of Directors of William Pitfield and Co Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than William Pitfield and Co Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that William Pitfield and Co Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of William Pitfield and Co Ltd. You consider that William Pitfield and Co Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of William Pitfield and Co Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

16 October 2023

 

William Pitfield and Co Ltd

(Registration number: 02939635)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

110,908

110,908

Current assets

 

Debtors

5

98

395

Cash at bank and in hand

 

26,324

50,446

 

26,422

50,841

Creditors: Amounts falling due within one year

6

(2,388)

(7,096)

Net current assets

 

24,034

43,745

Net assets

 

134,942

154,653

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

134,842

154,553

Shareholders' funds

 

134,942

154,653

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 October 2023
 



Mr Stephen William Paul Steadman
Director

 

William Pitfield and Co Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
24 Balmoral Crescent
Dorchester
Dorset
DT1 2BW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

The Freehold Land and Buildings held as Investment Properties are stated at cost and not depreciated. In the Director's opinion, the Fair Value of the Investment Properties would not differ significantly from the original cost.

 

William Pitfield and Co Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from tenants for rent.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period,

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 October 2022

110,908

110,908

At 30 September 2023

110,908

110,908

Depreciation

Carrying amount

At 30 September 2023

110,908

110,908

At 30 September 2022

110,908

110,908

Included within the net book value of land and buildings above is £110,908 (2022 - £110,908) in respect of freehold land and buildings.
 

 

William Pitfield and Co Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2023

5

Debtors

2023
£

2022
£

Other debtors

98

395

98

395

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

43

-

Taxation and social security

1,732

6,583

Accruals and deferred income

600

500

Other creditors

13

13

2,388

7,096

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

Ordinary 'A' shares of £1 each

98

98

98

98

 

100

100

100

100

8

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £12,500.00 (2022 - £28,325.00) per each Ordinary share

 

25,000

 

56,650