Company registration number 06582821 (England and Wales)
PAWSON HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
PAWSON HOLDINGS LIMITED
CONTENTS
Page
Group balance sheet
1 - 2
Company balance sheet
3 - 4
Group statement of changes in equity
5
Company statement of changes in equity
6
Notes to the financial statements
7 - 17
PAWSON HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
4
3,602,483
3,729,681
Current assets
Stocks
279,506
314,036
Debtors
7
1,118,543
1,221,975
Cash at bank and in hand
369,571
99,211
1,767,620
1,635,222
Creditors: amounts falling due within one year
8
(2,089,215)
(1,860,802)
Net current liabilities
(321,595)
(225,580)
Total assets less current liabilities
3,280,888
3,504,101
Creditors: amounts falling due after more than one year
9
(1,213,479)
(1,429,612)
Provisions for liabilities
(521,797)
(438,834)
Net assets
1,545,612
1,635,655
Capital and reserves
Called up share capital
90
90
Capital redemption reserve
10
10
Other reserves
10,378
10,378
Profit and loss reserves
1,535,134
1,625,177
Total equity
1,545,612
1,635,655
PAWSON HOLDINGS LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
31 July 2024
- 2 -

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

For the financial year ended 31 July 2024 the group was entitled to exemption from audit under section 477 of the Companies Act 2006.

Directors' responsibilities under the Companies Act 2006:

 

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

The financial statements were approved by the board of directors and authorised for issue on 10 April 2025 and are signed on its behalf by:
10 April 2025
Ms R L Pawson
Director
Company registration number 06582821 (England and Wales)
PAWSON HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
931,280
941,532
Investments
5
400
400
931,680
941,932
Current assets
Debtors
7
221,172
163,964
Cash at bank and in hand
4,905
6,060
226,077
170,024
Creditors: amounts falling due within one year
8
(426,159)
(302,143)
Net current liabilities
(200,082)
(132,119)
Total assets less current liabilities
731,598
809,813
Creditors: amounts falling due after more than one year
9
(458,027)
(546,035)
Net assets
273,571
263,778
Capital and reserves
Called up share capital
90
90
Capital redemption reserve
10
10
Other reserves
10,378
10,378
Profit and loss reserves
263,093
253,300
Total equity
273,571
263,778

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £237,693 (2023 - £321,083 profit).

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

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

PAWSON HOLDINGS LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
31 July 2024
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 10 April 2025 and are signed on its behalf by:
10 April 2025
Ms R L Pawson
Director
Company registration number 06582821 (England and Wales)
PAWSON HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
Share capital
Capital redemption reserve
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 August 2022
90
10
-
1,896,987
1,897,087
Year ended 31 July 2023:
Loss and total comprehensive income
-
-
-
(19,410)
(19,410)
Dividends
-
-
-
(252,400)
(252,400)
Interest free loan value movement
-
-
10,378
-
10,378
Balance at 31 July 2023
90
10
10,378
1,625,177
1,635,655
Year ended 31 July 2024:
Profit and total comprehensive income
-
-
-
137,857
137,857
Dividends
-
-
-
(227,900)
(227,900)
Balance at 31 July 2024
90
10
10,378
1,535,134
1,545,612
PAWSON HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
Share capital
Capital redemption reserve
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 August 2022
90
10
-
184,617
184,717
Year ended 31 July 2023:
Profit and total comprehensive income for the year
-
-
-
321,083
321,083
Dividends
-
-
-
(252,400)
(252,400)
Interest free loan fair value movement
-
-
10,378
-
10,378
Balance at 31 July 2023
90
10
10,378
253,300
263,778
Year ended 31 July 2024:
Profit and total comprehensive income
-
-
-
237,693
237,693
Dividends
-
-
-
(227,900)
(227,900)
Balance at 31 July 2024
90
10
10,378
263,093
273,571
PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
1
Accounting policies
Company information

Pawson Holdings Limited (“the company”) is a private company, limited by shares incorporated in England and Wales. The registered office is Fieldhouses, Ashton Lane, Braithwell, Rotherham, South Yorkshire, S66 7RL.

 

The group consists of Pawson Holdings Limited and all of its subsidiaries.

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.

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Pawson Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 July 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.4
Going concern

These financial statements have been prepared on the going concern basis. The directors have a reasonable expectation that the Group will continue in operational existence for the foreseeable future.

 

In preparing the Company’s forecasts and projections, the directors have considered several factors that will impact the going concern of the business over the next 12 months from the date of approval of these financial statements. Taking account of continued macro-economic pressures, the directors believe that the Company will have sufficient funds to meet its liabilities as they fall due for that period and therefore have prepared the financial statements on the going concern basis.

PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 8 -
1.5
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Sales of goods are recognised on their despatch to the customer, which is the point at which the risks and rewards of ownership of the goods pass to the customer. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for the services rendered to its customer. Rentals receivable under operating leases are credited to turnover on a straight line basis over the lease term.

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.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land
No depreciation is charged on land
Freehold Buildings
On a straight line basis over 20 years
Leasehold improvements
5% straight line
Plant and machinery
10% straight line
Fixtures, fittings & equipment
20% straight line
Computer equipment
20% straight line
Motor vehicles
On a straight line basis over the UEL of each individual vehicle

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.7
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 9 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for consumption or distribution at no or nominal consideration are measured at cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
Cash and cash equivalents

Cash at bank and in hand 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 current account positive balances. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and 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.

PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 10 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 group 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.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group 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 group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 11 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
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.

1.15
Retirement benefits

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

1.16
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 12 -
1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Leases

Management exercises judgement in determining the classification of leases as finance leases or operating leases at inception of the lease. Where the lease term constitutes substantially all of the economic life of the asset, or where the present value of the minimum lease payments amounts to substantially all of the fair value of the asset, the lease is classified as a finance lease. All other leases are classified as operating leases.

Contingent liabilities

Contingent liabilities are possible obligations whose existence will be conferred only on the occurrence or non-occurrence of uncertain future events outside the group’s control, or present obligations that are not recognised because it is not probable that a settlement will be required or the value of such payment cannot be reliably estimated. The group does not recognise contingent liabilities but, when necessary, discloses them in the notes to the financial statements.

PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 13 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Impairment of assets

Where there are indications of impairment, management performs an impairment test. For trade debtors this may simply be a review of the age profile of the debtors against the relevant payment terms and consideration of the debtors’ payment history. Any other relevant factors, of which management are aware, will also be considered, together with comparison of historical impairment provisions against actual outcomes.

Stocks

A stock provision is booked where the realisable value from the sale of the stock is estimated to be lower than the stock carrying value. Management has estimated the stock provisioning level for different products/product categories, based on various factors, including expected sales profiles of the items, the prevailing sales prices, the item’s technological status and expected losses associated with slow-moving or obsolete stock items.

Tangible fixed assets and depreciation

In order to implement the group’s accounting policy in respect of tangible fixed assets, management has to estimate the useful life of each category of such assets, determine which category individual assets belong, estimate the possibility and amount of residual values and allocate the cost of some assets between their major components, when such components have different useful lives. Management relies on industry knowledge, local facts, commonly used accounting practices, prior experience, specialist/professional advice (both current and historic) and any other relevant information which they are aware of, in order to make these estimates.

3
Employees

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

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Total
67
66
4
4
PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 14 -
4
Tangible fixed assets
Group
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2023
1,210,875
4,945,163
6,156,038
Additions
4,950
577,324
582,274
Disposals
-
0
(519,977)
(519,977)
At 31 July 2024
1,215,825
5,002,510
6,218,335
Depreciation and impairment
At 1 August 2023
142,223
2,284,134
2,426,357
Depreciation charged in the year
21,923
546,383
568,306
Eliminated in respect of disposals
-
0
(378,811)
(378,811)
At 31 July 2024
164,146
2,451,706
2,615,852
Carrying amount
At 31 July 2024
1,051,679
2,550,804
3,602,483
At 31 July 2023
1,068,652
2,661,029
3,729,681
Company
Land and buildings
£
Cost
At 1 August 2023 and 31 July 2024
982,542
Depreciation and impairment
At 1 August 2023
41,010
Depreciation charged in the year
10,252
At 31 July 2024
51,262
Carrying amount
At 31 July 2024
931,280
At 31 July 2023
941,532
PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 15 -
5
Fixed asset investments
Group
Company
2024
2023
2024
2023
£
£
£
£
Shares in group undertakings and participating interests
-
-
400
400
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 August 2023 and 31 July 2024
400
Carrying amount
At 31 July 2024
400
At 31 July 2023
400
6
Subsidiaries

Details of the company's subsidiaries at 31 July 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Pawson Commercial Vehicle Sales and Hire Limited
Fieldhouses, Ashton Lane, Braithwell, Rotherham, South Yorkshire, S66 7RL
Ordinary
100.00
Pawson Fleet Services Limited
As above
Ordinary
100.00
Pawson Self Storage Limited
As above
Ordinary
100.00
Pawson Transport Limited
As above
Ordinary
100.00

Logistics and Construction Academy Limited subsidiary was dissolved via voluntary strike-off on 23/08/2022.

7
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
883,175
887,072
-
0
-
0
Amounts owed by group
-
0
-
0
119,714
95,151
Other debtors
235,368
334,903
101,458
68,813
1,118,543
1,221,975
221,172
163,964
PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 16 -
8
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
113,268
111,132
38,596
36,984
Trade creditors
253,845
461,498
1,845
11,204
Amounts owed to group undertakings
-
0
-
0
179,255
153,750
Taxation and social security
148,737
115,086
306
226
Other creditors
1,573,365
1,173,086
206,157
99,979
2,089,215
1,860,802
426,159
302,143

Other creditors include £516,880 (2023: £494,523) of invoice discounting advances which are secured on various of the group's trade debtors.

 

Other creditors also include £417,421 (2023: £426,656) of net obligations under finance leases and hire purchase contracts which are secured by fixed charges on the assets concerned.

9
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
10
531,520
644,917
432,361
470,923
Obligations under finance leases
627,668
709,583
-
0
-
0
Other borrowings
10
54,291
75,112
25,666
75,112
1,213,479
1,429,612
458,027
546,035

The net obligations under finance leases and hire purchase contracts of £627,668 (2023: £709,583) are secured by fixed charges on the assets concerned.

Amounts included above which fall due after five years are as follows:
Payable by instalments
(260,401)
(306,164)
(260,401)
(306,164)
PAWSON HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 17 -
10
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
644,788
756,049
470,957
507,907
Loans from group undertakings and related parties
22,500
22,500
22,500
22,500
Other loans
388,923
123,030
75,113
123,030
1,056,211
901,579
568,570
653,437
Payable within one year
470,400
181,550
110,543
107,402
Payable after one year
585,811
720,029
458,027
546,035

The bank borrowings are secured by fixed and floating charges over the assets of the two largest subsidiaries in the group, via all assets debentures, and a group cross-guarantee for £700,000. At the year end the group borrowings covered by the guarantee total £108,831 (2023: £153,141) at the balance sheet date.

 

Other loans consist of advances received for the purchase of properties which are secured by fixed charges on the assets concerned.

11
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Group
Company
2024
2023
2024
2023
£
£
£
£
12,793
27,670
-
-
12
Related party transactions

Dividends of £227,900 (2023: £252,400) were paid during the year to directors, close members of their families and a company under control of the directors.

 

The company and the group has rent free use of the property it occupies, which is owned by members of the Pawson family.

 

The year-end balances on interest free loans from directors and members of their close family were £103,100 (2023: £17,600). A further loan of £22,500 was received in 2021 from the estate of a close family member which a market rate of interest will be paid on an adhoc basis.

 

 

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