Company registration number 02846600 (England and Wales)
PATTERSONS (ACCOMMODATION SUPPLIES) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
PATTERSONS (ACCOMMODATION SUPPLIES) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
PATTERSONS (ACCOMMODATION SUPPLIES) LTD
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
186,667
Current assets
Debtors
4
92,070
114,445
Creditors: amounts falling due within one year
5
(469,886)
(472,759)
Net current liabilities
(377,816)
(358,314)
Net liabilities
(377,816)
(171,647)
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
(378,016)
(171,847)
Total equity
(377,816)
(171,647)

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

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

The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Mr C Patterson
Director
Company registration number 02846600 (England and Wales)
PATTERSONS (ACCOMMODATION SUPPLIES) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Pattersons (Accommodation Supplies) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Pattersons, Winterstoke Road, BRISTOL, BS3 2NS.

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. The principal accounting policies adopted are set out below.

Pattersons (Accommodation Supplies) Limited is a subsidiary of Pattersons (Holdings) Limited and the company's results are included in the consolidated financial statements of ultimate parent company Pattersons (Holdings) Limited which are available from its registered office, Pattersons, Winterstoke Road, Bristol, BS3 2NS.

1.2
Going concern

After the year end the company has ceased trading and transferred the trade to another group company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis of other than going concern. The directors have considered the carrying value of assets in the accounts and have impaired relevant assets held on the balance sheet at 30 April 2024.

1.3
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 the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

PATTERSONS (ACCOMMODATION SUPPLIES) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

 

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.

 

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

PATTERSONS (ACCOMMODATION SUPPLIES) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

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

2024
2023
Number
Number
Total
12
12
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
400,000
Amortisation and impairment
At 1 May 2023
213,333
Amortisation charged for the year
40,000
Impairment losses
146,667
At 30 April 2024
400,000
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
186,667
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
92,070
114,445
PATTERSONS (ACCOMMODATION SUPPLIES) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
450,238
442,018
Other creditors
19,648
30,741
469,886
472,759
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter

We draw attention to Note 1.2 to the financial statements which explains that after the year end the company has ceased trading and transferred the trade to another group company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 1.2. Our opinion is not modified in respect of this matter.

Senior Statutory Auditor:
Philip Mills MSc BA ACA
Statutory Auditor:
Old Mill Audit Limited
Date of audit report:
30 January 2025
7
Events after the reporting date

After the year end, the company ceased trading and transferred the trade to another group company.

8
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Interest paid
2024
2023
£
£
Entities with control, joint control or significant influence over the company
8,220
8,220
2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
450,238
442,018
PATTERSONS (ACCOMMODATION SUPPLIES) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
8
Related party transactions
(Continued)
- 6 -

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
92,070
114,445
9
Parent company

The company is controlled by Pattersons (Holdings) Limited, a company registered in England and Wales, and the smallest and largest group into which the results of the company are consolidated.

In the opinion of the directors, Pattersons (Holdings) Limited is the company's ultimate parent company. Consolidated accounts of Pattersons (Holdings) Limited are available from Pattersons (Bristol) Limited, Winterstoke Road, Bristol, BS3 2NS.

 

Pattersons (Holdings) Limited is controlled by Mr C J Patterson, who is the ultimate controlling party of Pattersons (Accommodation Supplies) Limited.

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