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REGISTERED NUMBER: 04497570 (England and Wales)








PRITCHARD-COWBURN LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD

1 AUGUST 2024 TO 31 OCTOBER 2024






PRITCHARD-COWBURN LIMITED (REGISTERED NUMBER: 04497570)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2024 TO 31 OCTOBER 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


PRITCHARD-COWBURN LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 AUGUST 2024 TO 31 OCTOBER 2024







Directors: J R Cowburn
E L B Pritchard





Secretary: J R Cowburn





Registered office: 3 New Mill Court
Enterprise Park
Swansea
SA7 9FG





Registered number: 04497570 (England and Wales)





Accountants: Carr, Jenkins & Hood
3 New Mill Court
Enterprise Park
Swansea
SA7 9FG

PRITCHARD-COWBURN LIMITED (REGISTERED NUMBER: 04497570)

BALANCE SHEET
31 OCTOBER 2024

2024 2024
Notes £    £    £    £   
Fixed assets
Intangible assets 5 - -
Tangible assets 6 49,267 52,551
49,267 52,551

Current assets
Stocks 29,720 29,652
Debtors 7 178,313 159,843
Cash at bank and in hand 86,322 51,317
294,355 240,812
Creditors
Amounts falling due within one year 8 182,889 166,252
Net current assets 111,466 74,560
Total assets less current liabilities 160,733 127,111

Creditors
Amounts falling due after more than one
year

9

(13,909

)

(19,454

)

Provisions for liabilities (10,912 ) (11,740 )
Net assets 135,912 95,917

Capital and reserves
Called up share capital 100 100
Retained earnings 135,812 95,817
Shareholders' funds 135,912 95,917

PRITCHARD-COWBURN LIMITED (REGISTERED NUMBER: 04497570)

BALANCE SHEET - continued
31 OCTOBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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.

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 9 January 2025 and were signed on its behalf by:




J R Cowburn - Director



E L B Pritchard - Director


PRITCHARD-COWBURN LIMITED (REGISTERED NUMBER: 04497570)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2024 TO 31 OCTOBER 2024


1. Statutory information

Pritchard-Cowburn Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 New Mill Court, Enterprise Park, Swansea, United Kingdom, SA7 9FG.

Principle activity

The principal activity of the company continued to be that of optometrists.

Change of reporting date

The year end reporting date has been changed from 31 July 2025 to 31 October 2024. The period covered by these accounts is the 3 months ended 31 October 2024. As a result of this the comparatives reported in these accounts are not entirely comparable with the current period.

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts invoiced for the provision of goods and services relating to the company's principal activity of dispensing optician's, net of value added tax. Turnover is recognised in the period in which goods and services are provided.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on 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.

PRITCHARD-COWBURN LIMITED (REGISTERED NUMBER: 04497570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2024 TO 31 OCTOBER 2024


3. Accounting policies - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks, other third parties and loans to related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable in one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation
Taxation for the period 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.

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 period 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.

4. Employees and directors

The average number of employees during the period was 13 (2024 - 14 ) .

PRITCHARD-COWBURN LIMITED (REGISTERED NUMBER: 04497570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2024 TO 31 OCTOBER 2024


5. Intangible fixed assets
Goodwill
£   
Cost
At 1 August 2024
and 31 October 2024 20,000
Amortisation
At 1 August 2024
and 31 October 2024 20,000
Net book value
At 31 October 2024 -
At 31 July 2024 -

6. Tangible fixed assets
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
Cost
At 1 August 2024
and 31 October 2024 86,917 346,656 13,943 44,982 492,498
Depreciation
At 1 August 2024 86,917 300,029 13,674 39,327 439,947
Charge for period - 2,914 17 353 3,284
At 31 October 2024 86,917 302,943 13,691 39,680 443,231
Net book value
At 31 October 2024 - 43,713 252 5,302 49,267
At 31 July 2024 - 46,627 269 5,655 52,551

7. Debtors: amounts falling due within one year
2024 2024
£    £   
Trade debtors 13,430 15,872
Other debtors 164,883 143,971
178,313 159,843

PRITCHARD-COWBURN LIMITED (REGISTERED NUMBER: 04497570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2024 TO 31 OCTOBER 2024


8. Creditors: amounts falling due within one year
2024 2024
£    £   
Finance leases 3,032 2,981
Trade creditors 44,239 31,314
Taxation and social security 93,177 79,146
Other creditors 42,441 52,811
182,889 166,252

9. Creditors: amounts falling due after more than one year
2024 2024
£    £   
Finance leases 2,690 3,467
Other creditors 11,219 15,987
13,909 19,454

10. Secured debts

The following secured debts are included within creditors:

2024 2024
£    £   
Finance leases 5,722 6,448

Net obligations under hire purchase and finance lease agreements are secured by fixed charges on the assets concerned.

11. Other financial commitments

The company had total other commitments at the balance sheet date of £104,083 (31 July 2024; £112,667).

12. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the period ended 31 October 2024 and the year ended 31 July 2024:

2024 2024
£    £   
E L B Pritchard
Balance outstanding at start of period 76,760 80,556
Amounts advanced 13,423 77,660
Amounts repaid - (81,456 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 90,183 76,760

PRITCHARD-COWBURN LIMITED (REGISTERED NUMBER: 04497570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2024 TO 31 OCTOBER 2024


12. Directors' advances, credits and guarantees - continued

J R Cowburn
Balance outstanding at start of period 57,261 66,118
Amounts advanced 13,314 72,593
Amounts repaid - (81,450 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 70,575 57,261

The loan balances are included within other debtors. These loans are unsecured, repayable on demand and interest has been charged at a rate of 2.25% of the actual amounts due to the company during the period. The total interest charge in this period was £808 (31 July 2024; £3,552).

The balances are due to be repaid within 9 months of the period end.

13. Related party disclosures

The directors have given a personal guarantee of £18,000 which is 20% of the original loan provided by DBW.