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REGISTERED NUMBER: 05579203 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WILLIAM PUNTON AND SON LIMITED

WILLIAM PUNTON AND SON LIMITED (REGISTERED NUMBER: 05579203)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


WILLIAM PUNTON AND SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D P Punton
B W G Punton





REGISTERED OFFICE: Brow Of The Hill
Berwick Upon Tweed
Northumberland
TD15 1UE





REGISTERED NUMBER: 05579203 (England and Wales)





ACCOUNTANTS: J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WILLIAM PUNTON AND SON 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 William Punton And Son Limited for the year ended 31 March 2024 which comprise the Profit and Loss Account, 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 William Punton And Son 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 William Punton And Son Limited and state those matters that we have agreed to state to the Board of Directors of William Punton And Son 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 William Punton And Son Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that William Punton And Son 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 William Punton And Son Limited. You consider that William Punton And Son 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 William Punton And Son 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.






J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP


3 July 2024

WILLIAM PUNTON AND SON LIMITED (REGISTERED NUMBER: 05579203)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,116,943 980,073
1,116,943 980,073

CURRENT ASSETS
Stocks 283,973 311,655
Debtors 6 532,579 579,336
Cash at bank 3,341,572 2,568,090
4,158,124 3,459,081
CREDITORS
Amounts falling due within one year 7 1,246,956 1,158,859
NET CURRENT ASSETS 2,911,168 2,300,222
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,028,111

3,280,295

CREDITORS
Amounts falling due after more than one year 8 (22,653 ) (72,498 )

PROVISIONS FOR LIABILITIES (279,236 ) (245,018 )
NET ASSETS 3,726,222 2,962,779

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 3,725,222 2,961,779
SHAREHOLDERS' FUNDS 3,726,222 2,962,779

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

WILLIAM PUNTON AND SON LIMITED (REGISTERED NUMBER: 05579203)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2024 and were signed on its behalf by:





D P Punton - Director


WILLIAM PUNTON AND SON LIMITED (REGISTERED NUMBER: 05579203)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

William Punton And Son 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005. This was originally amortised over 20 years straight line. This was amended in 2017 to 10 years straight line in accordance with FRS 102.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant, equipment and implements
-
25% on reducing balance, 15% on reducing balance and 10% on cost
Field implements - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Tractors - 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 Profit and Loss Account, 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.


WILLIAM PUNTON AND SON LIMITED (REGISTERED NUMBER: 05579203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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
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.

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 29 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 35,000
AMORTISATION
At 1 April 2023
and 31 March 2024 35,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

WILLIAM PUNTON AND SON LIMITED (REGISTERED NUMBER: 05579203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant,
Improvements equipment
to and Field
property implements implements
£    £    £   
COST
At 1 April 2023 48,746 850,515 77,640
Additions 15,932 25,137 -
Disposals - - -
At 31 March 2024 64,678 875,652 77,640
DEPRECIATION
At 1 April 2023 32,338 616,773 61,253
Charge for year 2,051 49,140 3,278
Eliminated on disposal - - -
At 31 March 2024 34,389 665,913 64,531
NET BOOK VALUE
At 31 March 2024 30,289 209,739 13,109
At 31 March 2023 16,408 233,742 16,387

Motor
vehicles Tractors Totals
£    £    £   
COST
At 1 April 2023 213,841 938,447 2,129,189
Additions 100,346 407,840 549,255
Disposals (27,502 ) (296,883 ) (324,385 )
At 31 March 2024 286,685 1,049,404 2,354,059
DEPRECIATION
At 1 April 2023 92,053 346,699 1,149,116
Charge for year 39,702 119,974 214,145
Eliminated on disposal (15,502 ) (110,643 ) (126,145 )
At 31 March 2024 116,253 356,030 1,237,116
NET BOOK VALUE
At 31 March 2024 170,432 693,374 1,116,943
At 31 March 2023 121,788 591,748 980,073

WILLIAM PUNTON AND SON LIMITED (REGISTERED NUMBER: 05579203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractors
£   
COST
At 1 April 2023 670,200
Additions 162,550
Disposals (126,000 )
At 31 March 2024 706,750
DEPRECIATION
At 1 April 2023 200,722
Charge for year 89,095
Eliminated on disposal (29,000 )
At 31 March 2024 260,817
NET BOOK VALUE
At 31 March 2024 445,933
At 31 March 2023 469,478

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 352,876 290,005
Other debtors 179,703 289,331
532,579 579,336

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts - 126,373
Hire purchase contracts 86,681 119,516
Trade creditors 682,564 765,083
Taxation and social security 395,425 69,777
Other creditors 82,286 78,110
1,246,956 1,158,859

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts 22,653 72,498