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REGISTERED NUMBER: 13006139 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2023

for

D Price & Sons Ltd

D Price & Sons Ltd (Registered number: 13006139)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


D Price & Sons Ltd (Registered number: 13006139)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 206,693 178,151

CURRENT ASSETS
Stocks 10,000 5,000
Debtors 5 20,751 35,289
Cash at bank and in hand 9,094 26,917
39,845 67,206
CREDITORS
Amounts falling due within one year 6 95,062 138,736
NET CURRENT LIABILITIES (55,217 ) (71,530 )
TOTAL ASSETS LESS CURRENT LIABILITIES 151,476 106,621

CREDITORS
Amounts falling due after more than one year 7 (101,001 ) (86,051 )

PROVISIONS FOR LIABILITIES (33,020 ) -
NET ASSETS 17,455 20,570

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 17,454 20,569
SHAREHOLDERS' FUNDS 17,455 20,570

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2023 and were signed by:




Mr David Howell Price - Director


D Price & Sons Ltd (Registered number: 13006139)

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

1. STATUTORY INFORMATION

D Price & Sons Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13006139

Registered office: Ebenezer House
Ryecroft
Newcastle-under-Lyme
Staffordshire
ST5 2BE

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit & Loss Account, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

D Price & Sons Ltd (Registered number: 13006139)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 35,647 105,524 83,528 1,073 225,772
Additions - 85,795 - - 85,795
At 31 May 2023 35,647 191,319 83,528 1,073 311,567
DEPRECIATION
At 1 June 2022 - 26,381 20,882 358 47,621
Charge for year - 41,235 15,661 357 57,253
At 31 May 2023 - 67,616 36,543 715 104,874
NET BOOK VALUE
At 31 May 2023 35,647 123,703 46,985 358 206,693
At 31 May 2022 35,647 79,143 62,646 715 178,151

D Price & Sons Ltd (Registered number: 13006139)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 June 2022 71,567
Additions 85,600
At 31 May 2023 157,167
DEPRECIATION
At 1 June 2022 17,892
Charge for year 34,819
At 31 May 2023 52,711
NET BOOK VALUE
At 31 May 2023 104,456
At 31 May 2022 53,675

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,723 28,763
Amounts owed by associates 7,019 6,526
Other debtors 10,009 -
20,751 35,289

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,727 12,727
Hire purchase contracts 57,258 39,783
Trade creditors 13,170 30,691
Amounts owed to associates - 34,305
Taxation and social security 1,007 10,730
Other creditors 10,900 10,500
95,062 138,736

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 27,576 40,303
Hire purchase contracts 73,425 45,748
101,001 86,051

D Price & Sons Ltd (Registered number: 13006139)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 130,683 85,531
CBILS loan 40,303 53,031
170,986 138,562

The obligations under hire purchase are secured against the asset to which they relate.

The obligations with the CBILS loan are secured by the way of a personal guarantee by the director.

9. RELATED PARTY DISCLOSURES

Related parties are:
Moorview Group Limited - The director is a majority shareholder of Moorview Group Limited
D.P. Skip Hire Limited - 100% subsidiary of Moorview Group Limited

At the year end 31st May 2023 the following amounts were outstanding:
Moorview Group Limited owes £6,774 (2022: £6,526)
D.P. Skip Hire Limited owes £245 (2022: £34,305 - was owed to D.P. Skip Hire Limited)