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REGISTERED NUMBER: 13202838 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Piffard Holdings Limited

Piffard Holdings Limited (Registered number: 13202838)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Piffard Holdings Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S C B Straker
Miss C V P Straker
Mrs V E Straker





REGISTERED OFFICE: Sough Hill Farm
Caldwell
Richmond
North Yorkshire
DL11 7UH





REGISTERED NUMBER: 13202838 (England and Wales)





ACCOUNTANTS: King Hope
Chartered Accountants
34 Romanby Road
NORTHALLERTON
North Yorkshire
DL7 8NF

Piffard Holdings Limited (Registered number: 13202838)

Abridged Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 790 1,385
Tangible assets 5 15,160 5,525
15,950 6,910

CURRENT ASSETS
Stocks 9,331 17,864
Debtors 77,509 37,461
Cash at bank and in hand 2,981 8,705
89,821 64,030
CREDITORS
Amounts falling due within one year (93,504 ) (50,990 )
NET CURRENT (LIABILITIES)/ASSETS (3,683 ) 13,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,267

19,950

PROVISIONS FOR LIABILITIES - (1,313 )

ACCRUALS AND DEFERRED INCOME (1,000 ) (500 )
NET ASSETS 11,267 18,137

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 11,247 18,117
SHAREHOLDERS' FUNDS 11,267 18,137

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.

Piffard Holdings Limited (Registered number: 13202838)

Abridged 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 November 2024 and were signed on its behalf by:




S C B Straker - Director Miss C V P Straker - Director




Mrs V E Straker - Director


Piffard Holdings Limited (Registered number: 13202838)

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

1. STATUTORY INFORMATION

Piffard Holdings Limited 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.

In the case of the Public House turnover is recognised at point of sale. In respect of refurbishment work turnover represents the value of work done including estimates of amounts not invoiced.

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.

Website design is being amortised evenly over its estimated useful life of four years.

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% on reducing balance

Government grants
Government grants relates to grants towards expenditure on fixed assets, treated as deferred income and credited to the profit and loss account over the useful economic life of the asset.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress is valued at cost. Attributable profit is recognised as the difference between recorded turnover and related costs.

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.


Piffard Holdings Limited (Registered number: 13202838)

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.

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the directors consider that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business.

The directors have a reasonable expectation that the Company has adequate resources to continue in operation existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 2,509
AMORTISATION
At 1 March 2023 1,124
Amortisation for year 595
At 29 February 2024 1,719
NET BOOK VALUE

At 29 February 2024 790
At 28 February 2023 1,385

Piffard Holdings Limited (Registered number: 13202838)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 8,024
Additions 13,269
At 29 February 2024 21,293
DEPRECIATION
At 1 March 2023 2,499
Charge for year 3,634
At 29 February 2024 6,133
NET BOOK VALUE
At 29 February 2024 15,160
At 28 February 2023 5,525

6. OTHER FINANCIAL COMMITMENTS

At the reporting date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating lease arrangements in respect of rent amounting to £60,129 (2023 - £84,181)

7. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £20,821 (2023 - £10,560) to directors, the loans are interest free and have no specific repayment terms

During the year under review the company provided services amounting of £70,000 (2023 - £65,000) to a self-invested personal pension (SIPP) whose beneficiary is the husband of one of the directors. The company also incurred rent of £21,427 (2023 - £24,052) payable to the SIPP in the year. The lease in respect of the rent is contracted to run for 58 months.