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Registration number: 09935723

William Pritt Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

William Pritt Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

William Pritt Ltd

Company Information

Directors

E C Sylvester

L Sylvester

Company secretary

E C Sylvester

Registered office

41 Shepherds Way
Rickmansworth
Hertfordshire
WD3 7NN

Accountants

Sable & Argent Limited
2 Elvetham Crescent
Fleet
Hampshire
GU51 1BU

 

William Pritt Ltd

(Registration number: 09935723)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Current assets

 

Stocks

5

13,858

13,304

Debtors

6

201,422

207,224

Cash at bank and in hand

 

7,605

25,854

 

222,885

246,382

Creditors: Amounts falling due within one year

7

(133,937)

(163,130)

Net assets

 

88,948

83,252

Capital and reserves

 

Called up share capital

8

60

60

Retained earnings

88,888

83,192

Shareholders' funds

 

88,948

83,252

For the financial year ending 28 February 2025 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.

Approved and authorised by the Board on 2 April 2025 and signed on its behalf by:
 

E C Sylvester
Company secretary and director

   
     
 

William Pritt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

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

The address of its registered office is:
41 Shepherds Way
Rickmansworth
Hertfordshire
WD3 7NN

These financial statements were authorised for issue by the Board on 2 April 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

William Pritt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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% p.a. on cost

Office equipment

25% p.a. on cost

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 at the transaction price 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

Stocks are stated at the lower of cost and estimated selling price. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price; the impairment loss is recognised immediately in profit or loss.

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 at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons (including directors) employed by the company in the year, was 2 (2024: 2).

 

William Pritt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2024

253

253

Disposals

(253)

(253)

At 28 February 2025

-

-

Depreciation

At 1 March 2024

253

253

Eliminated on disposal

(253)

(253)

At 28 February 2025

-

-

Carrying amount

At 28 February 2025

-

-

5

Stocks

2025
£

2024
£

Finished goods and goods for resale

13,858

13,304

6

Debtors

Current

2025
£

2024
£

Other debtors

201,422

207,224

 

201,422

207,224

 

William Pritt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

13,485

5,536

Accruals and deferred income

900

900

Other creditors

119,552

156,694

133,937

163,130

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

A Ordinary Shares of £1 each

30

30

30

30

B Ordinary Shares of £1 each

30

30

30

30

60

60

60

60