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REGISTERED NUMBER: 09237979 (England and Wales)












BRIAN PRICE AND SON LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BRIAN PRICE AND SON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







Directors: Mrs M J Price
Mr C S Price





Secretary: Mrs M J Price





Registered office: Dalton House
9 Dalton Square
LANCASTER
LA1 1WD





Business address: 39 Downham Road
Chatburn
CLITHEROE
BB7 4AU





Registered number: 09237979 (England and Wales)





Accountants: Scott & Wilkinson
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

ABRIDGED BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 283,250 309,000
Property, plant and equipment 5 18,527 23,237
301,777 332,237

Current assets
Stock 6,110 4,660
Debtors 185,559 192,722
Cash at bank and in hand 173,694 153,720
365,363 351,102
Creditors
Amounts falling due within one year 63,155 60,914
Net current assets 302,208 290,188
Total assets less current liabilities 603,985 622,425

Provisions for liabilities 4,632 4,415
Net assets 599,353 618,010

Capital and reserves
Called up share capital 100 100
Retained earnings 599,253 617,910
599,353 618,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

ABRIDGED BALANCE SHEET - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by:





Mrs M J Price - Director


BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. Statutory information

Brian Price And Son Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 and represents amounts receivable, for goods and services provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a good or service to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% Reducing balance, 15% Reducing balance and Straight line over 3 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stock 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 Statement of Income and Retained Earnings, 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.


BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. Accounting policies - continued
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.

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 13 (2022 - 12 ) .

4. Intangible fixed assets
Totals
£   
Cost
At 1 October 2022
and 30 September 2023 515,000
Amortisation
At 1 October 2022 206,000
Amortisation for year 25,750
At 30 September 2023 231,750
Net book value

At 30 September 2023 283,250
At 30 September 2022 309,000

BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. Property, plant and equipment
Totals
£   
Cost
At 1 October 2022
and 30 September 2023 74,709
Depreciation
At 1 October 2022 51,472
Charge for year 4,710
At 30 September 2023 56,182
Net book value
At 30 September 2023 18,527
At 30 September 2022 23,237

6. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Mrs M J Price
Balance outstanding at start of year 35,116 (359 )
Amounts advanced 55,079 72,675
Amounts repaid (51,304 ) (37,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,891 35,116

Mr C S Price
Balance outstanding at start of year 89,581 40,538
Amounts advanced 117,782 187,123
Amounts repaid (122,184 ) (138,080 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 85,179 89,581