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REGISTERED NUMBER: 04593926 (England and Wales)














THE PRICE WHITEHEAD COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






THE PRICE WHITEHEAD COMPANY LIMITED (REGISTERED NUMBER: 04593926)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


THE PRICE WHITEHEAD COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: B G Whitehead BSc(Hons) MRAC
Mrs H N Whitehead BSc(Hons) DipREM MRAC MRICS





SECRETARY: B G Whitehead BSc(Hons) MRAC





REGISTERED OFFICE: The Oast Forstal Farm
Appledore Road
Tenterden
Kent
TN30 7DF





REGISTERED NUMBER: 04593926 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

THE PRICE WHITEHEAD COMPANY LIMITED (REGISTERED NUMBER: 04593926)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 162,146 174,112

CURRENT ASSETS
Stocks 55,864 49,715
Debtors 5 29,624 29,409
Cash at bank and in hand 7,244 100,740
92,732 179,864
CREDITORS
Amounts falling due within one year 6 150,353 234,150
NET CURRENT LIABILITIES (57,621 ) (54,286 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,525

119,826

CREDITORS
Amounts falling due after more than
one year

7

(50,163

)

(70,420

)

PROVISIONS FOR LIABILITIES (12,805 ) (11,863 )
NET ASSETS 41,557 37,543

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 41,555 37,541
SHAREHOLDERS' FUNDS 41,557 37,543

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

THE PRICE WHITEHEAD COMPANY LIMITED (REGISTERED NUMBER: 04593926)

BALANCE SHEET - continued
30 NOVEMBER 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 Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





B G Whitehead BSc(Hons) MRAC - Director


THE PRICE WHITEHEAD COMPANY LIMITED (REGISTERED NUMBER: 04593926)

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


1. STATUTORY INFORMATION

The Price Whitehead Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - at varying rates on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 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.

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.

THE PRICE WHITEHEAD COMPANY LIMITED (REGISTERED NUMBER: 04593926)

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


2. ACCOUNTING POLICIES - continued

Eu agricultural support schemes
Payments received under EU agricultural support schemes are recognised as income when the business has met all criteria which entitle it to the payments.

No provision has been made for penalties arising for the failure to comply with "cross compliance" conditions, as defined by the RPA, except for where notification has been received.

Grant income recognition
Grant income has been recognised under the performance model.

Grants that do not specify any future performance-related conditions are recorded when the grant proceeds are received or receivable. Any grant that imposes specified future performance-related conditions is recognised only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2022 183,260 63,943 22,250 10,495 279,948
Additions - - 352 - 352
At 30 November 2023 183,260 63,943 22,602 10,495 280,300
DEPRECIATION
At 1 December 2022 30,609 51,697 13,274 10,256 105,836
Charge for year 7,331 3,061 1,866 60 12,318
At 30 November 2023 37,940 54,758 15,140 10,316 118,154
NET BOOK VALUE
At 30 November 2023 145,320 9,185 7,462 179 162,146
At 30 November 2022 152,651 12,246 8,976 239 174,112

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,353 14,840
Other debtors 14,271 14,569
29,624 29,409

THE PRICE WHITEHEAD COMPANY LIMITED (REGISTERED NUMBER: 04593926)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 46,788 39,588
Trade creditors 14,709 31,824
Taxation and social security 37,139 38,976
Other creditors 51,717 123,762
150,353 234,150

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 50,163 70,420

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,828

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary shares £1 2 2