P.R. ALCOCK & SONS LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED | |||||||||||
31 DECEMBER 2023 | |||||||||||
Company Registration Number: 00510692 | |||||||||||
P.R. ALCOCK & SONS LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
CONTENTS | PAGES | ||||||||||
Company information | 1 | ||||||||||
Balance sheet | 2 to 3 | ||||||||||
Notes to the financial statements | 4 to 10 | ||||||||||
P.R. ALCOCK & SONS LIMITED | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
DIRECTORS | |||||||||||
SECRETARY | |||||||||||
REGISTERED OFFICE | |||||||||||
COMPANY REGISTRATION NUMBER | |||||||||||
00510692 England and Wales | |||||||||||
P.R. ALCOCK & SONS LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 DECEMBER 2023 | |||||||||||
Notes | 2023 | 2022 | |||||||||
£ | £ | ||||||||||
FIXED ASSETS | |||||||||||
Intangible assets | 5 | ||||||||||
Tangible assets | 6 | ||||||||||
Investments | 7 | ||||||||||
CURRENT ASSETS | |||||||||||
Stock | |||||||||||
Debtors | 8 | ||||||||||
Cash at bank and in hand | |||||||||||
CREDITORS: Amounts falling due within one year | 9 | ||||||||||
NET CURRENT ASSETS | |||||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | |||||||||||
Provisions for liabilities and charges | |||||||||||
NET ASSETS | |||||||||||
CAPITAL AND RESERVES | |||||||||||
Called up share capital | |||||||||||
Distributable profit and loss account | |||||||||||
Non distributable profit and loss account | |||||||||||
SHAREHOLDERS' FUNDS | |||||||||||
P.R. ALCOCK & SONS LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 DECEMBER 2023 | |||||||||||
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. | |||||||||||
Signed on behalf of the board of directors | |||||||||||
Mr D L Alcock | |||||||||||
Director | |||||||||||
Date approved by the board: |
|||||||||||
P.R. ALCOCK & SONS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
1 | GENERAL INFORMATION | ||||||||||
P.R. Alcock & Sons Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: | |||||||||||
Castle Street | |||||||||||
Banbury | |||||||||||
Oxfordshire | |||||||||||
OX16 5NX | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Basis of preparation of financial statements | |||||||||||
Revenue recognition | |||||||||||
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of building and joinery services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax. | |||||||||||
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. |
Intangible fixed assets | |||||||||||
Intangible fixed assets, other than goodwill, are stated at cost less accumulated amortisation and any accumulated impairment losses. It is amortised on a straight-line basis over its useful economic life of 10 years. | |||||||||||
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations. |
P.R. ALCOCK & SONS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Tangible fixed assets | |||||||||||
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. | |||||||||||
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. | |||||||||||
Land and buildings | |||||||||||
Plant and machinery | |||||||||||
Motor vehicles | |||||||||||
Fixtures, fittings and computer equipment | |||||||||||
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. | |||||||||||
Investment properties | |||||||||||
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. | |||||||||||
Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise. | |||||||||||
Financial Instruments | |||||||||||
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. | |||||||||||
P.R. ALCOCK & SONS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Impairment of non-financial assets | |||||||||||
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account. |
Stock | |||||||||||
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises materials, direct labour and an appropriate proportion of production overheads. | |||||||||||
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised |
Debtors | |
Short term debtors are measured at transaction price, less any impairment. | |||||||||||
Creditors | |||||||||||
Leases | |||||||||||
P.R. ALCOCK & SONS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Taxation | |||||||||||
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits. | |||||||||||
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. | |||||||||||
Pensions | |||||||||||
3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
4 | EMPLOYEES | ||||||||||
The average number of persons employed by the company (including directors) during the year was: | |||||||||||
2023 | 2022 | ||||||||||
Average number of employees | |||||||||||
P.R. ALCOCK & SONS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
5 | INTANGIBLE FIXED ASSETS | ||||||||||
Website | |||||||||||
£ | |||||||||||
Cost | |||||||||||
At 1 January 2023 | |||||||||||
Additions | |||||||||||
Disposals | ( |
||||||||||
At 31 December 2023 | |||||||||||
Accumulated amortisation and impairments | |||||||||||
Charge for year | |||||||||||
At 31 December 2023 | |||||||||||
Net book value | |||||||||||
At 1 January 2023 | |||||||||||
At 31 December 2023 | |||||||||||
P.R. ALCOCK & SONS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
6 | TANGIBLE ASSETS | ||||||||||
Land and buildings | Plant and machinery | Motor vehicles | Fixtures, fittings and computer equipment | Total | |||||||
£ | £ | £ | £ | £ | |||||||
Cost | |||||||||||
At 1 January 2023 | |||||||||||
Additions | - | - | |||||||||
At 31 December 2023 | |||||||||||
Accumulated depreciation and impairments | |||||||||||
At 1 January 2023 | |||||||||||
Charge for year | - | ||||||||||
At 31 December 2023 | |||||||||||
Net book value | |||||||||||
At 1 January 2023 | - | ||||||||||
At 31 December 2023 | - | ||||||||||
7 | FIXED ASSET INVESTMENTS | ||||||||||
Investment properties | |||||||||||
£ | |||||||||||
Cost | |||||||||||
At 1 January 2023 | 2,522,000 | ||||||||||
Revaluation | |||||||||||
At 31 December 2023 | 2,572,440 | ||||||||||
Net book value | |||||||||||
At 1 January 2023 | |||||||||||
At 31 December 2023 | |||||||||||
P.R. ALCOCK & SONS LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | |||||||||||
8 | DEBTORS | ||||||||||
2023 | 2022 | ||||||||||
£ | £ | ||||||||||
Trade debtors | |||||||||||
Prepayments and accrued income | |||||||||||
Other debtors | |||||||||||
110,079 | 62,671 | ||||||||||
9 | CREDITORS: Amounts falling due within one year | ||||||||||
2023 | 2022 | ||||||||||
£ | £ | ||||||||||
Trade creditors | |||||||||||
Taxation and social security | |||||||||||
Accruals and deferred income | |||||||||||
127,691 | 99,852 | ||||||||||
10 | SECURED DEBTS | ||||||||||