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REGISTERED NUMBER: 04939908 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

CHARLES PITON LIMITED

CHARLES PITON LIMITED (REGISTERED NUMBER: 04939908)






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


CHARLES PITON LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: W H P Charles





SECRETARY: Mrs R C H Charles





REGISTERED OFFICE: 100 Church Street
Brighton
East Sussex
BN1 1UJ





REGISTERED NUMBER: 04939908 (England and Wales)





ACCOUNTANTS: Paddenburg & Co Limited
100 Church Street
Brighton
East Sussex
BN1 1UJ

CHARLES PITON LIMITED (REGISTERED NUMBER: 04939908)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 108,940 82,545
108,940 82,545

CURRENT ASSETS
Stocks 6 4,000 4,000
Debtors 7 615,769 681,115
Cash at bank and in hand 532,008 230,205
1,151,777 915,320
CREDITORS
Amounts falling due within one year 8 466,057 376,942
NET CURRENT ASSETS 685,720 538,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

794,660

620,923

CREDITORS
Amounts falling due after more than one
year

9

(113,794

)

(133,748

)

PROVISIONS FOR LIABILITIES 10 (25,667 ) (14,323 )
NET ASSETS 655,199 472,852

CAPITAL AND RESERVES
Called up share capital 12 12
Retained earnings 655,187 472,840
SHAREHOLDERS' FUNDS 655,199 472,852

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 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.

CHARLES PITON LIMITED (REGISTERED NUMBER: 04939908)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





W H P Charles - Director


CHARLES PITON LIMITED (REGISTERED NUMBER: 04939908)

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

1. STATUTORY INFORMATION

Charles Piton 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 comprises revenue recognised by the company in respect of services supplied, exclusive of value added tax.

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.
Improvements to property - in accordance with the property
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

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 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.

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.

CHARLES PITON LIMITED (REGISTERED NUMBER: 04939908)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 156,700
AMORTISATION
At 1 January 2023
and 31 December 2023 156,700
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Office
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 13,240 147,011 13,985 - 174,236
Additions - 4,798 53,340 3,577 61,715
At 31 December 2023 13,240 151,809 67,325 3,577 235,951
DEPRECIATION
At 1 January 2023 12,443 71,419 7,829 - 91,691
Charge for year 157 19,950 14,851 362 35,320
At 31 December 2023 12,600 91,369 22,680 362 127,011
NET BOOK VALUE
At 31 December 2023 640 60,440 44,645 3,215 108,940
At 31 December 2022 797 75,592 6,156 - 82,545

CHARLES PITON LIMITED (REGISTERED NUMBER: 04939908)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 47,215 - 47,215
Additions - 53,340 53,340
At 31 December 2023 47,215 53,340 100,555
DEPRECIATION
At 1 January 2023 8,923 - 8,923
Charge for year 9,562 13,305 22,867
At 31 December 2023 18,485 13,305 31,790
NET BOOK VALUE
At 31 December 2023 28,730 40,035 68,765
At 31 December 2022 38,292 - 38,292

6. STOCKS
2023 2022
£    £   
Stocks 4,000 4,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 273,158 93,892
Other debtors 147,752 227,257
Carter Revivals Ltd - 200,000
Charles Piton (London & Kent) Ltd 166,322 88,582
Jaco Property Ltd 27,111 27,111
Directors' loan accounts - 41,865
Prepayments 1,426 2,408
615,769 681,115

Company numbers for the connected companies are as follows; Carter Revivals Ltd (10054536), Charles Piton (London & Kent) Ltd (12636038) and Jaco Property Ltd (13362735).

The companies listed above are under the control of the same parties.

CHARLES PITON LIMITED (REGISTERED NUMBER: 04939908)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 40,000 39,303
Finance leases 19,168 9,443
Trade creditors 108,686 250,814
Tax 99,603 15,838
Social security and other taxes 13,282 5,894
VAT 85,067 23,809
Other creditors 27,986 3,066
Carter Revivals Ltd 6,245 -
Directors' loan accounts 32,708 -
Accrued expenses 33,312 28,775
466,057 376,942

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 40,000 40,940
Bank loans - 2-5 years 20,000 59,757
Finance leases 53,794 33,051
113,794 133,748

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred taxation 25,667 14,323

Deferred
tax
£   
Balance at 1 January 2023 14,323
Accelerated capital allowances 11,344
Balance at 31 December 2023 25,667

11. RELATED PARTY DISCLOSURES

The company paid rent to Mr W H P and Mrs R C H Charles totalling £20,000 for the year (2022 : £20,000).

The company also purchased services from Carter Revivals Ltd totalling £349,242 (2022: £182,671).

The companies are under the control of the same parties and traded on normal commercial terms.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W H P Charles.