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REGISTERED NUMBER: 06828569 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

P C PERRETT & SONS LIMITED

P C PERRETT & SONS LIMITED (REGISTERED NUMBER: 06828569)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


P C PERRETT & SONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: R C Perrett
C G Perrett





SECRETARY: C G Perrett





REGISTERED OFFICE: Manchester House
High Street
Stalbridge
Dorset
DT10 2LL





REGISTERED NUMBER: 06828569 (England and Wales)





ACCOUNTANTS: Evans & Co
Manchester House
High Street
Stalbridge
Sturminster Newton
Dorset
DT10 2LL

P C PERRETT & SONS LIMITED (REGISTERED NUMBER: 06828569)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 507,807 467,387
Investments 7 50 50
Herd basis 8 176,490 188,340
684,347 655,777

CURRENT ASSETS
Stocks 83,191 78,185
Debtors 79,782 105,442
Cash at bank 30,025 75,998
192,998 259,625
CREDITORS
Amounts falling due within one year 240,867 324,596
NET CURRENT LIABILITIES (47,869 ) (64,971 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

636,478

590,806

CREDITORS
Amounts falling due after more than one
year

(70,742

)

(40,887

)

PROVISIONS FOR LIABILITIES (86,994 ) (58,435 )
NET ASSETS 478,742 491,484

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 478,642 491,384
SHAREHOLDERS' FUNDS 478,742 491,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

P C PERRETT & SONS LIMITED (REGISTERED NUMBER: 06828569)

ABRIDGED BALANCE SHEET - continued
31 March 2024


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 Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 August 2024 and were signed on its behalf by:




C G Perrett - Director



R C Perrett - Director


P C PERRETT & SONS LIMITED (REGISTERED NUMBER: 06828569)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

P C Perrett & Sons Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Intangible assets
Basic payment scheme (BPS) entitlements are initially recognised at cost. Cost for originally granted BPS entitlements is the fair value on transition to FRS 102 and has been recognised through a debit to intangible assets and a credit to deferred income. Both purchased and granted entitlements are subsequently measured at cost less accumulated amortisation and impairment losses. For granted BPS, deferred income is released to the profit and loss at the same rate at which the intangible asset is amortised.

The amortisation method and rate is as follows:

8 years straight line

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.
Improvements to property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Biological assets
Biological assets held for continuing use within the business are classified as fixed assets. Such assets are measured at cost less accumulated depreciation and impairment.

Assets within the classification comprise a dairy herd.

Depreciation is charged to write off the cost of assets less estimated selling price over their estimated useful economic life.

The depreciation rate used for the dairy herd is 25% straight line.

Stocks
Livestock is valued by the directors at market value. Such valuations are then discounted in accordance with approved Inland Revenue practice (HS232), so as to show values at deemed cost.

Deadstock and tillages are valued by the directors at cost.


P C PERRETT & SONS LIMITED (REGISTERED NUMBER: 06828569)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 30,200
Disposals (30,200 )
At 31 March 2024 -
AMORTISATION
At 1 April 2023 30,200
Eliminated on disposal (30,200 )
At 31 March 2024 -
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

P C PERRETT & SONS LIMITED (REGISTERED NUMBER: 06828569)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 865,905
Additions 132,000
Disposals (80,000 )
At 31 March 2024 917,905
DEPRECIATION
At 1 April 2023 398,518
Charge for year 61,408
Eliminated on disposal (49,828 )
At 31 March 2024 410,098
NET BOOK VALUE
At 31 March 2024 507,807
At 31 March 2023 467,387

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 209,600
Additions 125,000
At 31 March 2024 334,600
DEPRECIATION
At 1 April 2023 54,167
Charge for year 42,065
At 31 March 2024 96,232
NET BOOK VALUE
At 31 March 2024 238,368
At 31 March 2023 155,433

7. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2023
and 31 March 2024 50
NET BOOK VALUE
At 31 March 2024 50
At 31 March 2023 50

P C PERRETT & SONS LIMITED (REGISTERED NUMBER: 06828569)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

8. HERD BASIS
Dairy
herd
basis
£   
COST
At 1 April 2023 295,120
Additions 63,920
Disposals (84,320 )
At 31 March 2024 274,720
DEPRECIATION
At 1 April 2023 106,780
Charge for year 38,380
Eliminated on disposal (46,930 )
At 31 March 2024 98,230
NET BOOK VALUE
At 31 March 2024 176,490
At 31 March 2023 188,340

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 114,221 70,683

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company operates from a farm owned by the directors. There is no formal lease and the company currently occupies the property rent free.

There is additional land, again owned by the directors, on which the company pays rent of £5,400 (2022 £5,400).