IRIS Accounts Production v24.3.0.553 06793177 Board of Directors 1.3.23 29.2.24 29.2.24 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh067931772023-02-28067931772024-02-29067931772023-03-012024-02-29067931772022-02-28067931772022-03-012023-02-28067931772023-02-2806793177ns15:EnglandWales2023-03-012024-02-2906793177ns14:PoundSterling2023-03-012024-02-2906793177ns10:Director12023-03-012024-02-2906793177ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2906793177ns10:SmallEntities2023-03-012024-02-2906793177ns10:AuditExemptWithAccountantsReport2023-03-012024-02-2906793177ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2906793177ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2906793177ns10:FullAccounts2023-03-012024-02-290679317712023-03-012024-02-2906793177ns10:Director22023-03-012024-02-2906793177ns10:RegisteredOffice2023-03-012024-02-2906793177ns5:CurrentFinancialInstruments2024-02-2906793177ns5:CurrentFinancialInstruments2023-02-2806793177ns5:ShareCapital2024-02-2906793177ns5:ShareCapital2023-02-2806793177ns5:RetainedEarningsAccumulatedLosses2024-02-2906793177ns5:RetainedEarningsAccumulatedLosses2023-02-2806793177ns5:NetGoodwill2023-03-012024-02-2906793177ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2906793177ns5:NetGoodwill2023-02-2806793177ns5:NetGoodwill2024-02-2906793177ns5:NetGoodwill2023-02-2806793177ns5:LandBuildings2023-02-2806793177ns5:PlantMachinery2023-02-2806793177ns5:LandBuildings2023-03-012024-02-2906793177ns5:PlantMachinery2023-03-012024-02-2906793177ns5:LandBuildings2024-02-2906793177ns5:PlantMachinery2024-02-2906793177ns5:LandBuildings2023-02-2806793177ns5:PlantMachinery2023-02-2806793177ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2906793177ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-28
REGISTERED NUMBER: 06793177 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Prust & Son Ltd

Prust & Son Ltd (Registered number: 06793177)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Prust & Son Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: M J Prust
Mrs K L Prust





REGISTERED OFFICE: Spar
High St
Llanfyllin
Powys
SY22 5AA





REGISTERED NUMBER: 06793177 (England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

Prust & Son Ltd (Registered number: 06793177)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 68,204 83,700
Tangible assets 5 69,110 86,207
137,314 169,907

CURRENT ASSETS
Stocks 68,458 66,709
Debtors 6 2,572 3,385
Cash at bank and in hand 115,822 160,485
186,852 230,579
CREDITORS
Amounts falling due within one year 7 104,784 139,171
NET CURRENT ASSETS 82,068 91,408
TOTAL ASSETS LESS CURRENT
LIABILITIES

219,382

261,315

PROVISIONS FOR LIABILITIES 10,453 10,453
NET ASSETS 208,929 250,862

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 208,925 250,858
208,929 250,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Prust & Son Ltd (Registered number: 06793177)

Balance Sheet - continued
29 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





M J Prust - Director


Prust & Son Ltd (Registered number: 06793177)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Prust & 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, 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 0, is being amortised evenly over its estimated useful life of nil 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.

Land and buildings leasehold - over the lifetime of the lease
Leasehold improvement - over the lifetime of the lease
Plant & Machinery - 25% reducing balance
Fixtures & Fittings - 15% reducing balance
Office equipment - 25% reducing balance
Motor vehicles - 25% 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 Income Statement, 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.


Prust & Son Ltd (Registered number: 06793177)

Notes to the Financial Statements - continued
for the Year Ended 29 February 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 20 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 310,000
AMORTISATION
At 1 March 2023 226,300
Charge for year 15,496
At 29 February 2024 241,796
NET BOOK VALUE
At 29 February 2024 68,204
At 28 February 2023 83,700

Prust & Son Ltd (Registered number: 06793177)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 10,112 270,244 280,356
Additions - (4,425 ) (4,425 )
At 29 February 2024 10,112 265,819 275,931
DEPRECIATION
At 1 March 2023 4,044 190,105 194,149
Charge for year 1,517 11,155 12,672
At 29 February 2024 5,561 201,260 206,821
NET BOOK VALUE
At 29 February 2024 4,551 64,559 69,110
At 28 February 2023 6,068 80,139 86,207

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors - 813
Other debtors 2,572 2,572
2,572 3,385

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 62,696 71,500
Taxation and social security 38,588 44,828
Other creditors 3,500 22,843
104,784 139,171

Prust & Son Ltd

Report of the Accountants to the Directors of
Prust & Son Ltd

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 29 February 2024 set out on pages one to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP


Date: .............................................