Company registration number 00454176 (England and Wales)
PIDCOCK AND BEASTALL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
PIDCOCK AND BEASTALL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
PIDCOCK AND BEASTALL LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
226,251
89,833
Current assets
Stocks
38,470
67,378
Debtors
4
212,976
151,574
Cash at bank and in hand
2,229,168
2,229,464
2,480,614
2,448,416
Creditors: amounts falling due within one year
5
(204,609)
(170,419)
Net current assets
2,276,005
2,277,997
Total assets less current liabilities
2,502,256
2,367,830
Provisions for liabilities
(20,600)
-
0
Net assets
2,481,656
2,367,830
Capital and reserves
Called up share capital
6
1,400
1,400
Profit and loss reserves
2,480,256
2,366,430
Total equity
2,481,656
2,367,830

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

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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.

The financial statements were approved and signed by the director and authorised for issue on 11 November 2024
M J Beastall
Director
Company Registration No. 00454176
PIDCOCK AND BEASTALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

Pidcock and Beastall Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Flowery Leys Lane, Alfreton, Derbyshire, DE55 7HA.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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:

Improvements to leasehold property
Over 10 years
Plant and machinery
10% straight line
Fixtures & fittings
10% straight line
Computer equipment
25% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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).

PIDCOCK AND BEASTALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
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
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Share capital

Shares issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on shares are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Taxation

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

PIDCOCK AND BEASTALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
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.

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.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.11
Retirement benefits
Contributions to the Company's defined contribution scheme are charged to the profit and loss account as they become payable.
2
Employees

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

2024
2023
Number
Number
Total
14
15
PIDCOCK AND BEASTALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
3
Tangible fixed assets
Improvements to leasehold property
Plant and machinery
Fixtures & fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 June 2023
1,675
10,438
16,989
4,364
251,706
285,172
Additions
-
0
-
0
-
0
797
180,921
181,718
Disposals
-
0
-
0
-
0
-
0
(95,268)
(95,268)
At 31 May 2024
1,675
10,438
16,989
5,161
337,359
371,622
Depreciation and impairment
At 1 June 2023
1,675
9,524
15,428
1,754
166,958
195,339
Depreciation charged in the year
-
0
170
365
1,102
42,329
43,966
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(93,934)
(93,934)
At 31 May 2024
1,675
9,694
15,793
2,856
115,353
145,371
Carrying amount
At 31 May 2024
-
0
744
1,196
2,305
222,006
226,251
At 31 May 2023
-
0
914
1,561
2,610
84,748
89,833
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
117,254
127,790
Other debtors
95,722
23,784
212,976
151,574
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
38,318
36,607
Corporation tax
84,980
63,063
Other taxation and social security
66,020
56,288
Other creditors
15,291
14,461
204,609
170,419
PIDCOCK AND BEASTALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,400
1,400
1,400
1,400
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director
2.25
21,425
227,827
1,199
(160,000)
90,451
21,425
227,827
1,199
(160,000)
90,451
2024-05-312023-06-01falsefalsefalse11 November 2024CCH SoftwareCCH Accounts Production 2024.301No description of principal activityM J Beastall004541762023-06-012024-05-31004541762024-05-31004541762023-05-3100454176core:LandBuildingscore:OwnedOrFreeholdAssets2024-05-3100454176core:PlantMachinery2024-05-3100454176core:FurnitureFittings2024-05-3100454176core:ComputerEquipment2024-05-3100454176core:MotorVehicles2024-05-3100454176core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-3100454176core:PlantMachinery2023-05-3100454176core:FurnitureFittings2023-05-3100454176core:ComputerEquipment2023-05-3100454176core:MotorVehicles2023-05-3100454176core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3100454176core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3100454176core:CurrentFinancialInstruments2024-05-3100454176core:CurrentFinancialInstruments2023-05-3100454176core:ShareCapital2024-05-3100454176core:ShareCapital2023-05-3100454176core:RetainedEarningsAccumulatedLosses2024-05-3100454176core:RetainedEarningsAccumulatedLosses2023-05-3100454176bus:Director12023-06-012024-05-3100454176core:LandBuildingscore:OwnedOrFreeholdAssets2023-06-012024-05-3100454176core:PlantMachinery2023-06-012024-05-3100454176core:FurnitureFittings2023-06-012024-05-3100454176core:ComputerEquipment2023-06-012024-05-3100454176core:MotorVehicles2023-06-012024-05-31004541762022-06-012023-05-3100454176core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-3100454176core:PlantMachinery2023-05-3100454176core:FurnitureFittings2023-05-3100454176core:ComputerEquipment2023-05-3100454176core:MotorVehicles2023-05-31004541762023-05-3100454176core:WithinOneYear2024-05-3100454176core:WithinOneYear2023-05-3100454176bus:PrivateLimitedCompanyLtd2023-06-012024-05-3100454176bus:SmallCompaniesRegimeForAccounts2023-06-012024-05-3100454176bus:FRS1022023-06-012024-05-3100454176bus:AuditExemptWithAccountantsReport2023-06-012024-05-3100454176bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP