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REGISTERED NUMBER: 00644141 (England and Wales)















Pitkin & Ruddock Limited

Unaudited Financial Statements

for the year ended

31 December 2023






Pitkin & Ruddock Limited (Registered number: 00644141)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5

Chartered Accountants' Report 6

Pitkin & Ruddock Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Mrs S Ashford
D W Clackett
D Nunn
Mrs A W Ruddock





REGISTERED OFFICE: Unit 1 Capital Estate
Whapload Road
Lowestoft
Suffolk
NR32 1TY





REGISTERED NUMBER: 00644141 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY

Pitkin & Ruddock Limited (Registered number: 00644141)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,392,382 814,536
Investments 5 69,469 69,469
1,461,851 884,005

CURRENT ASSETS
Debtors 6 18,608 7,149
Cash at bank and in hand 804,766 1,331,568
823,374 1,338,717
CREDITORS
Amounts falling due within one year 7 (847,180 ) (1,101,087 )
NET CURRENT (LIABILITIES)/ASSETS (23,806 ) 237,630
TOTAL ASSETS LESS CURRENT LIABILITIES 1,438,045 1,121,635

PROVISIONS FOR LIABILITIES (27,786 ) (12,806 )
NET ASSETS 1,410,259 1,108,829

CAPITAL AND RESERVES
Called up share capital 1,070 1,070
Non distributable revaluation
reserve 166,841 166,841
Retained earnings 1,242,348 940,918
SHAREHOLDERS' FUNDS 1,410,259 1,108,829

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 September 2024 and were signed on its behalf by:





Mrs S Ashford - Director


Pitkin & Ruddock Limited (Registered number: 00644141)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Pitkin & Ruddock 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 as modified by the revaluation of certain assets.

Turnover
Turnover consists of management charges from its trading subsidiaries and is recognised on an accrued income basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Long leasehold - 2% on cost
Improvements to property - 10% on cost
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 13 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold Long to
property leasehold property
£    £    £   
COST OR VALUATION
At 1 January 2023 365,152 433,407 21,498
Additions 531,009 - 100,759
Disposals - - -
At 31 December 2023 896,161 433,407 122,257
DEPRECIATION
At 1 January 2023 21,257 90,851 7,937
Charge for year 17,923 8,668 12,226
Eliminated on disposal - - -
At 31 December 2023 39,180 99,519 20,163
NET BOOK VALUE
At 31 December 2023 856,981 333,888 102,094
At 31 December 2022 343,895 342,556 13,561

Pitkin & Ruddock Limited (Registered number: 00644141)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 203,506 105,501 1,129,064
Additions 47,901 - 679,669
Disposals - (42,445 ) (42,445 )
At 31 December 2023 251,407 63,056 1,766,288
DEPRECIATION
At 1 January 2023 150,361 44,122 314,528
Charge for year 33,345 7,929 80,091
Eliminated on disposal - (20,713 ) (20,713 )
At 31 December 2023 183,706 31,338 373,906
NET BOOK VALUE
At 31 December 2023 67,701 31,718 1,392,382
At 31 December 2022 53,145 61,379 814,536

Freehold property and Long leasehold property were revalued on transition to FRS102.

Cost or valuation at 31 December 2023 is represented by:

Improvements
Freehold Long to
property leasehold property
£    £    £   
Valuation in 2014 40,556 54,134 -
Cost 855,605 379,273 122,257
896,161 433,407 122,257

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2014 - - 94,690
Cost 251,407 63,056 1,671,598
251,407 63,056 1,766,288

Pitkin & Ruddock Limited (Registered number: 00644141)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 69,469
NET BOOK VALUE
At 31 December 2023 69,469
At 31 December 2022 69,469

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,161 169
Other debtors 5,447 6,980
18,608 7,149

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 31,385 28,425
Amounts owed to group undertakings 569,076 688,768
Taxation and social security 162,715 227,610
Other creditors 84,004 156,284
847,180 1,101,087

8. OTHER FINANCIAL COMMITMENTS

The company had total commitments under non-cancellable operating leases over the remaining life of those leases of £64,306.

9. 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.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Pitkin & Ruddock Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pitkin & Ruddock Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pitkin & Ruddock Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pitkin & Ruddock Limited and state those matters that we have agreed to state to the Board of Directors of Pitkin & Ruddock Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pitkin & Ruddock Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pitkin & Ruddock Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pitkin & Ruddock Limited. You consider that Pitkin & Ruddock Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pitkin & Ruddock Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
Chartered Accountants
Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY


24 September 2024