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REGISTERED NUMBER: 00354338 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Attwater & Sons Limited

Attwater & Sons Limited (Registered number: 00354338)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Attwater & Sons Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr R Attwater
Mr A Goode
Mr D Swarbrick
Mr M J D'Arcy





SECRETARY: Mr M J D'Arcy





REGISTERED OFFICE: Hopwood Street Mills
Holstein Street
Preston
PR1 1UN





REGISTERED NUMBER: 00354338 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Attwater & Sons Limited (Registered number: 00354338)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 439,120 427,880
Investments 5 1 1
439,121 427,881

CURRENT ASSETS
Stocks 1,228,046 1,168,665
Debtors 6 541,169 581,719
Cash at bank and in hand 253,248 254,643
2,022,463 2,005,027
CREDITORS
Amounts falling due within one year 7 1,298,249 1,317,323
NET CURRENT ASSETS 724,214 687,704
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,163,335

1,115,585

CREDITORS
Amounts falling due after more than one
year

8

(126,625

)

(137,048

)

PROVISIONS FOR LIABILITIES (31,795 ) (26,934 )
NET ASSETS 1,004,915 951,603

Attwater & Sons Limited (Registered number: 00354338)

Statement of Financial Position - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 35,016 35,016
Revaluation reserve 11 228,800 238,745
Capital redemption reserve 18,003 18,003
Other reserves 192,965 192,965
Retained earnings 530,131 466,874
SHAREHOLDERS' FUNDS 1,004,915 951,603

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.

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 24 June 2024 and were signed on its behalf by:





Mr R Attwater - Director


Attwater & Sons Limited (Registered number: 00354338)

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


1. STATUTORY INFORMATION

Attwater & 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. ACCOUNTING POLICIES

Basis of preparing the financial statements - going concern
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost and 20% on cost
Computer equipment - 20% on cost

Freehold property was previously included on a revaluation basis. The company has now taken advantage under FRS 102 32.10(d) to state this as the deemed cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at fair value.

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 statement of financial position date.


Attwater & Sons Limited (Registered number: 00354338)

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 statement of financial position 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 32 (2022 - 32 ) .

Attwater & Sons Limited (Registered number: 00354338)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 500,000 297,651 38,723
Additions - 55,000 1,686
Disposals - - (5,408 )
At 31 December 2023 500,000 352,651 35,001
DEPRECIATION
At 1 January 2023 157,136 272,689 24,892
Charge for year 14,285 16,261 4,059
Eliminated on disposal - - (5,255 )
At 31 December 2023 171,421 288,950 23,696
NET BOOK VALUE
At 31 December 2023 328,579 63,701 11,305
At 31 December 2022 342,864 24,962 13,831

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 38,431 26,323 901,128
Additions - 2,283 58,969
Disposals - - (5,408 )
At 31 December 2023 38,431 28,606 954,689
DEPRECIATION
At 1 January 2023 10,248 8,283 473,248
Charge for year 7,686 5,285 47,576
Eliminated on disposal - - (5,255 )
At 31 December 2023 17,934 13,568 515,569
NET BOOK VALUE
At 31 December 2023 20,497 15,038 439,120
At 31 December 2022 28,183 18,040 427,880

Attwater & Sons Limited (Registered number: 00354338)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 95,500 38,431 133,931
Additions 55,000 - 55,000
Transfer to ownership (95,500 ) - (95,500 )
At 31 December 2023 55,000 38,431 93,431
DEPRECIATION
At 1 January 2023 71,624 10,248 81,872
Charge for year 1,375 7,686 9,061
Transfer to ownership (71,624 ) - (71,624 )
At 31 December 2023 1,375 17,934 19,309
NET BOOK VALUE
At 31 December 2023 53,625 20,497 74,122
At 31 December 2022 23,876 28,183 52,059

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

Fixed Asset investments relate to the investment in Noramite Ltd which a wholly owned subsidiary of the company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 497,162 537,223
Other debtors 44,007 44,496
541,169 581,719

Attwater & Sons Limited (Registered number: 00354338)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 441,980 372,917
Hire purchase contracts (see note 9) 18,590 9,389
Trade creditors 236,617 289,506
Taxation and social security 137,796 138,158
Other creditors 463,266 507,353
1,298,249 1,317,323

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 67,500 112,500
Hire purchase contracts (see note 9) 49,125 14,548
Other creditors 10,000 10,000
126,625 137,048

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 10,000 10,000

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 18,590 9,389
Between one and five years 49,125 14,548
67,715 23,937

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 33,026 33,365
Between one and five years 93,855 103,881
In more than five years 36,417 59,417
163,298 196,663

Attwater & Sons Limited (Registered number: 00354338)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 396,980 327,917
Bank loans 112,500 157,500
Hire purchase contracts 67,715 23,937
577,195 509,354

The bank overdraft is secured by a first legal mortgage over Hopwood Street Mills and an unscheduled mortgage debenture incorporating a fixed and floating charge over all current and future assets of the company.

The UK Government have provided an 80% guarantee on the Coronavirus Business Interruption Loan Scheme (CBILS), borrowings obtained from HSBC UK Bank PLC.

The finance leases are secured over the assets to which they relate.

11. RESERVES
Revaluation
reserve
£   
At 1 January 2023 238,745
Amortisation of Revaluation Reserve (9,945 )

At 31 December 2023 228,800

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.