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REGISTERED NUMBER: 05764986 (England and Wales)















Pitkin & Ruddock (Lowestoft) Limited

Unaudited Financial Statements

for the year ended

31 December 2023






Pitkin & Ruddock (Lowestoft) Limited (Registered number: 05764986)

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 4

Chartered Accountants' Report 5

Pitkin & Ruddock (Lowestoft) 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: 05764986 (England and Wales)





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

Pitkin & Ruddock (Lowestoft) Limited (Registered number: 05764986)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 172,370 152,265

CURRENT ASSETS
Stocks 58,398 53,500
Debtors 5 892,804 823,724
Cash in hand 33 27
951,235 877,251
CREDITORS
Amounts falling due within one year 6 (260,191 ) (333,454 )
NET CURRENT ASSETS 691,044 543,797
TOTAL ASSETS LESS CURRENT LIABILITIES 863,414 696,062

PROVISIONS FOR LIABILITIES (36,757 ) (23,127 )
NET ASSETS 826,657 672,935

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 825,657 671,935
SHAREHOLDERS' FUNDS 826,657 672,935

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 26 September 2024 and were signed on its behalf by:





Mrs S Ashford - Director


Pitkin & Ruddock (Lowestoft) Limited (Registered number: 05764986)

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


1. STATUTORY INFORMATION

Pitkin & Ruddock (Lowestoft) 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
Revenue is recognised as the contract progresses and reflects the partial performance of its obligations on a contract by contract basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
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 18 (2022 - 14 ) .

Pitkin & Ruddock (Lowestoft) Limited (Registered number: 05764986)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 2,610 51,468 247,476 301,554
Additions - 9,476 81,625 91,101
Disposals - - (46,175 ) (46,175 )
At 31 December 2023 2,610 60,944 282,926 346,480
DEPRECIATION
At 1 January 2023 2,084 41,890 105,315 149,289
Charge for year 173 6,288 39,813 46,274
Eliminated on disposal - - (21,453 ) (21,453 )
At 31 December 2023 2,257 48,178 123,675 174,110
NET BOOK VALUE
At 31 December 2023 353 12,766 159,251 172,370
At 31 December 2022 526 9,578 142,161 152,265

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 722,454 470,044
Amounts owed by group undertakings 152,694 343,719
Other debtors 17,656 9,961
892,804 823,724

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 38,498 52,333
Taxation and social security 91,874 73,062
Other creditors 129,819 208,059
260,191 333,454

7. 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 (Lowestoft) 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 (Lowestoft) 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 (Lowestoft) 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 (Lowestoft) Limited and state those matters that we have agreed to state to the Board of Directors of Pitkin & Ruddock (Lowestoft) 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 (Lowestoft) 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 (Lowestoft) 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 (Lowestoft) Limited. You consider that Pitkin & Ruddock (Lowestoft) 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 (Lowestoft) 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


26 September 2024