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REGISTERED NUMBER: 06741244 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

P R ELFORD LIMITED

P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P R ELFORD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P R Elford
Mrs J Barrett





REGISTERED OFFICE: 18 High West Street
Dorchester
Dorset
DT1 1UW





REGISTERED NUMBER: 06741244 (England and Wales)





ACCOUNTANTS: Pugsley Revill
18 High West Street
Dorchester
Dorset
DT1 1UW

P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 50,000 60,000
Tangible assets 5 75,320 71,979
125,320 131,979

CURRENT ASSETS
Stocks 42,182 17,964
Debtors 6 86,118 78,820
Cash at bank 153,274 166,062
281,574 262,846
CREDITORS
Amounts falling due within one year 7 289,341 248,036
NET CURRENT (LIABILITIES)/ASSETS (7,767 ) 14,810
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,553

146,789

CREDITORS
Amounts falling due after more than one
year

8

(27,545

)

(39,120

)

PROVISIONS FOR LIABILITIES 10 (18,830 ) (13,676 )
NET ASSETS 71,178 93,993

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 71,078 93,893
SHAREHOLDERS' FUNDS 71,178 93,993

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

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

P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)

BALANCE SHEET - continued
31 DECEMBER 2023


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 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 15 August 2024 and were signed on its behalf by:




P R Elford - Director



Mrs J Barrett - Director


P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

P R Elford 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. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and equipment - 20% on reducing balance
Furniture and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office and computer equipment - 25% on reducing balance

Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after making due
provision for obsolete and slow-moving items.

Cost includes all direct costs and an appropriate proportion of fixed and variable overheads,
and in the case of work in progress a proportion of attributable profit.

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.


P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

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 19 (2022 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 200,000
AMORTISATION
At 1 January 2023 140,000
Amortisation for year 10,000
At 31 December 2023 150,000
NET BOOK VALUE
At 31 December 2023 50,000
At 31 December 2022 60,000

P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Office
Furniture and
Plant and and Motor computer
equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 40,492 6,254 174,698 25,721 247,165
Additions 520 - 23,005 2,380 25,905
At 31 December 2023 41,012 6,254 197,703 28,101 273,070
DEPRECIATION
At 1 January 2023 32,318 5,592 116,481 20,795 175,186
Charge for year 1,739 132 18,867 1,826 22,564
At 31 December 2023 34,057 5,724 135,348 22,621 197,750
NET BOOK VALUE
At 31 December 2023 6,955 530 62,355 5,480 75,320
At 31 December 2022 8,174 662 58,217 4,926 71,979

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 58,545
Additions 23,005
Transfer to ownership (14,995 )
At 31 December 2023 66,555
DEPRECIATION
At 1 January 2023 16,150
Charge for year 13,460
Transfer to ownership (9,188 )
At 31 December 2023 20,422
NET BOOK VALUE
At 31 December 2023 46,133
At 31 December 2022 42,395

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 86,118 78,820

P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,825 10,163
Hire purchase contracts 15,000 10,000
Trade creditors 159,394 150,658
Taxation and social security 64,792 56,567
Other creditors 42,330 20,648
289,341 248,036

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 16,962 24,786
Hire purchase contracts 10,583 14,334
27,545 39,120

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 24,787 34,949
Hire purchase contracts 25,583 24,334
50,370 59,283

Barclays Bank PLC hold a £100,000 personal guarantee from the directors in respect of any overdrawn bank balances or loans.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 18,830 13,676

Deferred
tax
£   
Balance at 1 January 2023 13,676
Charge to Statement of Income and Retained Earnings during year 5,154
Balance at 31 December 2023 18,830

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100