2024-01-012024-12-312024-12-31false01503477PININGTON 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PININGTON LIMITED

Registered Number
01503477
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

PININGTON LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Mr T Pinington
Mr N Pinington
Mr J Hackett
Mr P Heskine
Mr L Sutcliffe
Mr P Waters

Registered Address

Aldrens Lane
Skerton
Lancaster
LA1 2DE

Registered Number

01503477 (England and Wales)
PININGTON LIMITED
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4545,707536,596
545,707536,596
Current assets
Stocks6780,888537,186
Debtors43,497794,487
Cash at bank and on hand2,539,9442,313,612
3,364,3293,645,285
Creditors amounts falling due within one year7(2,761,349)(3,150,207)
Net current assets (liabilities)602,980495,078
Total assets less current liabilities1,148,6871,031,674
Creditors amounts falling due after one year8(82,962)(75,714)
Provisions for liabilities10(49,427)(37,253)
Net assets1,016,298918,707
Capital and reserves
Called up share capital40,13240,132
Share premium5,0165,016
Revaluation reserve302,403302,403
Profit and loss account668,747571,156
Shareholders' funds111,016,298918,707
The financial statements were approved and authorised for issue by the Board of Directors on 3 April 2025, and are signed on its behalf by:
Mr T Pinington
Director
Registered Company No. 01503477
PININGTON LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company and rounded to the nearest £1.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery15-
Fixtures and fittings25-
Vehicles25-
Office Equipment25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year2323
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 January 24433,65420,298245,2447,88493,989801,069
Additions-1,352114,10557515,507131,539
Disposals-(2,865)(90,356)-(1,499)(94,720)
At 31 December 24433,65418,785268,9938,459107,997837,888
Depreciation and impairment
At 01 January 24101,00014,65980,3126,24862,254264,473
Charge for year8,67391251,99744510,46272,489
On disposals-(2,368)(41,477)-(936)(44,781)
At 31 December 24109,67313,20390,8326,69371,780292,181
Net book value
At 31 December 24323,9815,582178,1611,76636,217545,707
At 31 December 23332,6545,639164,9321,63631,735536,596
5.Revaluation of property, plant and equipment
Freehold land and buildings were valued on an open market basis in June 2021 by HWM Surveyors
6.Stocks

2024

2023

££
Raw materials and consumables10,00010,000
Work in progress770,888527,186
Total780,888537,186
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables120,91071,695
Bank borrowings and overdrafts-14,215
Taxation and social security347,384676,715
Finance lease and HP contracts12,74317,877
Other creditors2,270,9832,369,705
Accrued liabilities and deferred income9,329-
Total2,761,3493,150,207
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Other creditors82,96275,714
Total82,96275,714
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts82,96275,714
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)49,42737,253
Total49,42737,253
11.Revaluation reserve

£
Reserve at 01 January 24302,403
At 31 December 24302,403