REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
R.T.PAGE & SONS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
R.T.PAGE & SONS LIMITED |
R.T.PAGE & SONS LIMITED (REGISTERED NUMBER: 00551193) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
R.T.PAGE & SONS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Appledram Barns |
Birdham Road |
Chichester |
West Sussex |
PO20 7EQ |
R.T.PAGE & SONS LIMITED (REGISTERED NUMBER: 00551193) |
BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Revaluation reserve |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
R.T.PAGE & SONS LIMITED (REGISTERED NUMBER: 00551193) |
BALANCE SHEET - continued |
30 APRIL 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
R.T.PAGE & SONS LIMITED (REGISTERED NUMBER: 00551193) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
R.T.Page & Sons Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00551193 and the registered office address is Unit R, Rudford Industrial Estate, Ford Road, Ford, West Sussex, BN18 0BF. |
The presentation currency of the financial statements is the Pound Sterling (£), |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Monetary amounts in these Financial Statements are rounded to the nearest £1. |
Turnover |
Revenue from the sales of services is recognised when all of the following conditions are satisfied: |
- The amount of revenue can be measured reliably; |
- It is probable that the economic benefits associated with the transactions will flow to the company; and |
- The costs incurred in respect of the transaction can be measured reliably. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Freehold property is initially measured at cost and is subsequently revalued at fair value. Land is not depreciated. |
The directors believe the residual value of the freehold property is so high that they believe it is reasonable to reset the 50 years useful life of the asset at each revaluation period. |
Financial instruments |
Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
R.T.PAGE & SONS LIMITED (REGISTERED NUMBER: 00551193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
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. |
Employee benefits |
The costs of short term employee benefits are recognised as a liability and an expense. |
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
R.T.PAGE & SONS LIMITED (REGISTERED NUMBER: 00551193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Included in cost or valuation of land and buildings is freehold land of £ 1,973,817 (2023 - £ 1,973,817 ) which is not depreciated. |
Cost or valuation at 30 April 2024 is represented by: |
Freehold | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 1997 | 22,949 | - | - | - | 22,949 |
Valuation in 1999 | 72,899 | - | - | - | 72,899 |
Valuation in 2001 | 224,414 | - | - | - | 224,414 |
Valuation in 2007 | 561,587 | - | - | - | 561,587 |
Valuation in 2012 | (287,598 | ) | - | - | - | (287,598 | ) |
Valuation in 2016 | 828,000 | - | - | - | 828,000 |
Valuation in 2022 | 2,904,912 | - | - | - | 2,904,912 |
Cost | 2,343,826 | 274,554 | 304,486 | 72,769 | 2,995,635 |
6,670,989 | 274,554 | 304,486 | 72,769 | 7,322,798 |
If freehold property had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 2,343,826 | 2,343,825 |
Aggregate depreciation | 616,795 | 588,878 |
Freehold land and buildings were valued on an open market basis on 1 April 2022 by Flude property consultants . |
A tax liability of £501,332 would have arisen if the freehold property had been sold at the balance sheet date for its carrying amount under the revaluation model. This has been provided for in the deferred tax calculation. |
R.T.PAGE & SONS LIMITED (REGISTERED NUMBER: 00551193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 8) |
8. | LEASING AGREEMENTS |
2024 | 2023 |
Finance charges repayable: | £ | £ |
Within one year | 15,993 | 53,796 |
Between one and five years | 73,302 | 29,347 |
89,295 | 83,143 |
R.T.PAGE & SONS LIMITED (REGISTERED NUMBER: 00551193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 28,818 | 83,143 |
Other creditors | 1,107,100 | 1,107,100 |
Other creditors are secured on land and property owned by the company. The balance of this is repayable on demand with 5% (2023: 5%) interest charged per annum on the principal sum. |
The finance lease and hire purchase contracts are secured on the assets concerned. |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 544,157 | 563,495 |
Deferred tax |
£ |
Balance at 1 May 2023 |
Accelerated capital allowances | (19,338 | ) |
Balance at 30 April 2024 |
11. | RELATED PARTY DISCLOSURES |
Included in other debtors at the year end is a balance of £21,692 (2023 : £62,594), due both within one year and more than one year in respect of a pension scheme. Interest was charge at £11,400 (2023 : £11,400) during the year. A director is connected with the pension scheme. |