Company Registration No. NI033274 (Northern Ireland)
P Lipton and Sons Limited
Unaudited accounts
for the year ended 31 March 2023
P Lipton and Sons Limited
Unaudited accounts
Contents
P Lipton and Sons Limited
Company Information
for the year ended 31 March 2023
Directors
F J McDonald
A Downie
Company Number
NI033274 (Northern Ireland)
Registered Office
The Ewart
3 Bedford Square
Belfast
BT2 7EP
Accountants
Assenti & Noble Ltd
18 Mosshead Road
Bearsden
Glasgow
G61 3HN
P Lipton and Sons Limited
Statement of financial position
as at 31 March 2023
Tangible assets
23,532
17,925
Inventories
244,815
211,143
Cash at bank and in hand
-
29,262
Creditors: amounts falling due within one year
(157,252)
(127,421)
Net current assets
104,272
136,240
Total assets less current liabilities
127,804
154,165
Creditors: amounts falling due after more than one year
(87,252)
(119,726)
Called up share capital
105,000
105,000
Profit and loss account
(64,448)
(70,561)
Shareholders' funds
40,552
34,439
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 17 November 2023 and were signed on its behalf by
F J McDonald
Director
Company Registration No. NI033274
P Lipton and Sons Limited
Notes to the Accounts
for the year ended 31 March 2023
P Lipton and Sons Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI033274. The registered office is The Ewart, 3 Bedford Square, Belfast, BT2 7EP.
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.
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.
The accounts are presented in £ sterling.
Tangible fixed assets policy
Depreciation is provided at annual rates in order to write off the assets over their estimated useful lives.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2022
28,311
76,001
49,557
35,360
5,214
194,443
Additions
-
9,316
-
-
316
9,632
At 31 March 2023
28,311
85,317
49,557
35,360
5,530
204,075
At 1 April 2022
28,311
72,098
49,555
21,425
5,129
176,518
Charge for the year
-
2,352
-
1,600
73
4,025
At 31 March 2023
28,311
74,450
49,555
23,025
5,202
180,543
At 31 March 2023
-
10,867
2
12,335
328
23,532
At 31 March 2022
-
3,903
2
13,935
85
17,925
P Lipton and Sons Limited
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Trade debtors
12,521
19,258
Accrued income and prepayments
1,735
1,552
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
62,982
50,186
Trade creditors
31,283
7,941
Taxes and social security
2,209
12,336
Other creditors
104
13,919
Loans from directors
-
900
Deferred income
42,229
30,824
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
105,000 Ordinary shares of £1 each
105,000
105,000
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Average number of employees
During the year the average number of employees was 9 (2022: 11).