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REGISTERED NUMBER: 09237979 (England and Wales)












BRIAN PRICE AND SON LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BRIAN PRICE AND SON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







Directors: Mrs M J Price
Mr C S Price





Secretary: Mrs M J Price





Registered office: Dalton House
9 Dalton Square
LANCASTER
LA1 1WD





Business address: 39 Downham Road
Chatburn
CLITHEROE
BB7 4AU





Registered number: 09237979 (England and Wales)





Accountants: Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

ABRIDGED BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 257,500 283,250
Property, plant and equipment 5 14,684 18,527
272,184 301,777

Current assets
Stock 6,432 6,110
Debtors 219,481 185,559
Cash at bank and in hand 158,838 173,694
384,751 365,363
Creditors
Amounts falling due within one year 62,122 63,155
Net current assets 322,629 302,208
Total assets less current liabilities 594,813 603,985

Provisions for liabilities 3,671 4,632
Net assets 591,142 599,353

Capital and reserves
Called up share capital 100 100
Retained earnings 591,042 599,253
591,142 599,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

ABRIDGED BALANCE SHEET - continued
30 SEPTEMBER 2024


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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:





Mrs M J Price - Director


BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. Statutory information

Brian Price And Son Ltd 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 and represents amounts receivable, for goods and services provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a good or service to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% Reducing balance, 15% Reducing balance and Straight line over 3 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, 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 Statement of Income and Retained Earnings, 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.


BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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.

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 13 (2023 - 13 ) .

4. Intangible fixed assets
Totals
£   
Cost
At 1 October 2023
and 30 September 2024 515,000
Amortisation
At 1 October 2023 231,750
Amortisation for year 25,750
At 30 September 2024 257,500
Net book value

At 30 September 2024 257,500
At 30 September 2023 283,250

BRIAN PRICE AND SON LTD (REGISTERED NUMBER: 09237979)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. Property, plant and equipment
Totals
£   
Cost
At 1 October 2023
and 30 September 2024 74,709
Depreciation
At 1 October 2023 56,182
Charge for year 3,843
At 30 September 2024 60,025
Net book value
At 30 September 2024 14,684
At 30 September 2023 18,527

6. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mrs M J Price
Balance outstanding at start of year 38,891 35,116
Amounts advanced 59,360 55,079
Amounts repaid (21,304 ) (51,304 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 76,947 38,891

Mr C S Price
Balance outstanding at start of year 85,179 89,581
Amounts advanced 101,263 117,782
Amounts repaid (112,184 ) (122,184 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 74,258 85,179