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REGISTERED NUMBER: NI038260 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

P.F. HOWELL LIMITED

P.F. HOWELL LIMITED (REGISTERED NUMBER: NI038260)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


P.F. HOWELL LIMITED (REGISTERED NUMBER: NI038260)

Balance Sheet
31 JULY 2024

31/7/24 31/7/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 331,071 279,119
Investment property 5 93,632 93,632
424,703 372,751

CURRENT ASSETS
Stocks 213,780 204,632
Debtors 6 266,380 234,725
Cash at bank 292,944 445,031
773,104 884,388
CREDITORS
Amounts falling due within one year 7 490,265 538,566
NET CURRENT ASSETS 282,839 345,822
TOTAL ASSETS LESS CURRENT
LIABILITIES

707,542

718,573

PROVISIONS FOR LIABILITIES 8 30,045 24,387
NET ASSETS 677,497 694,186

CAPITAL AND RESERVES
Called up share capital 1,020 1,020
Retained earnings 9 676,477 693,166
677,497 694,186

P.F. HOWELL LIMITED (REGISTERED NUMBER: NI038260)

Balance Sheet - continued
31 JULY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 19 February 2025 and were signed on its behalf by:





Paul Howell - Director


P.F. HOWELL LIMITED (REGISTERED NUMBER: NI038260)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

P.F. Howell Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number: NI038260

Registered office: 8 Balloo Crescent
Bangor
Co. Down
BT19 7WP

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.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


P.F. HOWELL LIMITED (REGISTERED NUMBER: NI038260)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 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.

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 36 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2023 545,059 48,405 453,442 1,046,906
Additions 5,699 6,426 116,367 128,492
Disposals - - (27,118 ) (27,118 )
At 31 July 2024 550,758 54,831 542,691 1,148,280
DEPRECIATION
At 1 August 2023 464,838 36,594 266,355 767,787
Charge for year 21,480 4,559 48,242 74,281
Eliminated on disposal - - (24,859 ) (24,859 )
At 31 July 2024 486,318 41,153 289,738 817,209
NET BOOK VALUE
At 31 July 2024 64,440 13,678 252,953 331,071
At 31 July 2023 80,221 11,811 187,087 279,119

On 27 July 2023 the company's freehold property was transferred at it's market value of £1,000,000 to it's holding company, P.F.Howell (Holdings) Limited.

P.F. HOWELL LIMITED (REGISTERED NUMBER: NI038260)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 93,632
NET BOOK VALUE
At 31 July 2024 93,632
At 31 July 2023 93,632

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 254,746 204,704
Other debtors 11,212 15,312
Provision for doubtful debts (1,182 ) (3,101 )
Prepayments and accrued income 1,604 17,810
266,380 234,725

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade creditors 210,697 385,923
Taxation and social security 263,294 138,460
Other creditors 16,274 14,183
490,265 538,566

8. PROVISIONS FOR LIABILITIES
31/7/24 31/7/23
£    £   
Deferred tax
Accelerated capital allowances 30,045 24,387

Deferred
tax
£   
Balance at 1 August 2023 24,387
Provided during year 5,658
Balance at 31 July 2024 30,045

P.F. HOWELL LIMITED (REGISTERED NUMBER: NI038260)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


9. RESERVES
Retained
earnings
£   

At 1 August 2023 693,166
Profit for the year 424,086
Equity Dividends (440,775 )
At 31 July 2024 676,477

10. ULTIMATE HOLDING COMPANY

The company is a wholly owned subsidiary of P.F. Howell (Holdings) limited, a private limited company registered in Northern Ireland.