Company registration number 09244072 (England and Wales)
S PEACOCK & SON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
S PEACOCK & SON LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
S PEACOCK & SON LTD
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
75,000
75,000
Tangible assets
4
311,275
372,521
386,275
447,521
Current assets
Stocks
2,157
26,852
Debtors
5
396,279
375,167
Cash at bank and in hand
44,671
52,539
443,107
454,558
Creditors: amounts falling due within one year
6
(441,217)
(447,235)
Net current assets
1,890
7,323
Total assets less current liabilities
388,165
454,844
Creditors: amounts falling due after more than one year
7
(355,952)
(434,688)
Net assets
32,213
20,156
Capital and reserves
Called up share capital
101
101
Profit and loss reserves
32,112
20,055
Total equity
32,213
20,156

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

S PEACOCK & SON LTD
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 October 2024 and are signed on its behalf by:
Mr SJ Peacock
Director
Company registration number 09244072 (England and Wales)
S PEACOCK & SON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
1
Accounting policies
Company information

S Peacock & Son Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Tha Barn, Musgrave Farm, Horningsea Road, Fen Ditton, Cambridge, England, CB5 8SZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
- 25% reducing balance
Computers
- 25% straight line
Motor vehicles
- 20% reducing balance
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

S PEACOCK & SON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 19

2023
2022
Number
Number
Total
18
19
3
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
75,000
Amortisation and impairment
At 1 November 2022 and 31 October 2023
-
0
Carrying amount
At 31 October 2023
75,000
At 31 October 2022
75,000
S PEACOCK & SON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022
523,588
Additions
59,200
Disposals
(76,203)
At 31 October 2023
506,585
Depreciation and impairment
At 1 November 2022
151,069
Depreciation charged in the year
52,248
Eliminated in respect of disposals
(8,007)
At 31 October 2023
195,310
Carrying amount
At 31 October 2023
311,275
At 31 October 2022
372,521
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
389,479
368,367
Other debtors
6,800
6,800
396,279
375,167
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
168,589
160,126
Trade creditors
55,114
79,849
Corporation tax
35,350
4,746
Other taxation and social security
153,270
166,007
Other creditors
28,894
36,507
441,217
447,235
S PEACOCK & SON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
200,947
256,029
Other creditors
155,005
178,659
355,952
434,688
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