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Registration number: 04294997

E W Pinchbeck & Sons Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

E W Pinchbeck & Sons Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

3

 

E W Pinchbeck & Sons Limited

(Registration number: 04294997)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

126,291

95,671

Investment property

5

427,438

427,438

 

553,729

523,109

Current assets

 

Stocks

6

186,792

249,482

Debtors

7

52,525

73,479

Cash at bank and in hand

 

709,318

560,362

 

948,635

883,323

Creditors: Amounts falling due within one year

8

(347,455)

(373,093)

Net current assets

 

601,180

510,230

Total assets less current liabilities

 

1,154,909

1,033,339

Provisions for liabilities

(12,079)

(5,541)

Net assets

 

1,142,830

1,027,798

Capital and reserves

 

Called up share capital

305,000

305,000

Retained earnings

837,830

722,798

Shareholders' funds

 

1,142,830

1,027,798

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

E W Pinchbeck & Sons Limited

(Registration number: 04294997)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 17 February 2025 and signed on its behalf by:
 

.........................................
Mr K J Pinchbeck
Director

 

E W Pinchbeck & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Suite 2 Healey House
Dene Road
Andover
Hampshire
SP10 2AA

These financial statements were authorised for issue by the Board on 17 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, amended for uninvoiced sales at the year end.

Government grants

Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

E W Pinchbeck & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

Motor vehicles

25% Reducng balance

Investment property

Investment property is included at fair value. Gains are recognised in profit or loss and transferred to the non-distributable reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

E W Pinchbeck & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 15).

 

E W Pinchbeck & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

54,000

32,990

174,500

261,490

Additions

-

6,000

44,291

50,291

Disposals

-

-

(9,776)

(9,776)

At 30 September 2024

54,000

38,990

209,015

302,005

Depreciation

At 1 October 2023

-

15,881

149,939

165,820

Charge for the year

-

5,527

12,783

18,310

Eliminated on disposal

-

-

(8,416)

(8,416)

At 30 September 2024

-

21,408

154,306

175,714

Carrying amount

At 30 September 2024

54,000

17,582

54,709

126,291

At 30 September 2023

54,000

17,109

24,562

95,671

Included within the net book value of land and buildings above is £54,000 (2023 - £54,000) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 October

427,438

At 30 September

427,438

The investment properties are included at their initial cost value of £427,438.

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Other inventories

186,792

249,482

 

E W Pinchbeck & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

19,456

33,591

Prepayments

13,050

12,682

Other debtors

20,019

27,206

 

52,525

73,479

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

88,627

114,468

Trade creditors

 

89,915

90,734

Taxation and social security

 

103,352

111,987

Accruals and deferred income

 

15,956

15,833

Other creditors

 

49,605

40,071

 

347,455

373,093

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

88,627

114,468