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Registered number: 06861270
Percivals (Tadcaster) Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Gilbert Finance & Accounting LLP
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06861270
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 436,000 765,000
Investment Properties 5 290,000 290,000
726,000 1,055,000
CURRENT ASSETS
Stocks 6 1,898,365 1,877,846
Debtors 7 151,730 237,173
Cash at bank and in hand 66,469 1,529
2,116,564 2,116,548
Creditors: Amounts Falling Due Within One Year 8 (2,260 ) (28,873 )
NET CURRENT ASSETS (LIABILITIES) 2,114,304 2,087,675
TOTAL ASSETS LESS CURRENT LIABILITIES 2,840,304 3,142,675
Creditors: Amounts Falling Due After More Than One Year 9 (2,807,550 ) (2,942,441 )
NET ASSETS 32,754 200,234
CAPITAL AND RESERVES
Called up share capital 10 247,463 247,463
Profit and Loss Account (214,709 ) (47,229 )
SHAREHOLDERS' FUNDS 32,754 200,234
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Mark Spencer
Director
04/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Percivals (Tadcaster) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06861270 . The registered office is Unit 5 Flemming Court, Whistler Drive, Castleford, West Yorkshire, WF10 5HW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0% straight line basis
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account, and no depreciation is provided.
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 February 2023 765,000
Disposals (329,000 )
As at 31 January 2024 436,000
Net Book Value
As at 31 January 2024 436,000
As at 1 February 2023 765,000
Page 3
Page 4
5. Investment Property
2024
£
Fair Value
As at 1 February 2023 and 31 January 2024 290,000
6. Stocks
2024 2023
£ £
Stock - Developments 1,898,365 1,877,846
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 143,960 143,960
VAT 7,770 93,213
151,730 237,173
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 15,935
Corporation tax - 8,175
Other taxes and social security - 1,143
Other creditors 1,260 2,620
Accruals and deferred income 1,000 1,000
2,260 28,873
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 2,807,550 2,942,441
2,807,550 2,942,441
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 247,463 247,463
Page 4