Powys Funeral Services Limited 06695826 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is funeral directors and monumental masons. Digita Accounts Production Advanced 6.30.9574.0 true true 06695826 2023-11-01 2024-10-31 06695826 2024-10-31 06695826 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-10-31 06695826 core:FinanceLeases core:CurrentFinancialInstruments 2024-10-31 06695826 core:FinanceLeases core:Non-currentFinancialInstruments 2024-10-31 06695826 core:CurrentFinancialInstruments 2024-10-31 06695826 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 06695826 core:Non-currentFinancialInstruments 2024-10-31 06695826 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 06695826 core:Goodwill 2024-10-31 06695826 core:FurnitureFittingsToolsEquipment 2024-10-31 06695826 core:LandBuildings 2024-10-31 06695826 core:MotorVehicles 2024-10-31 06695826 core:OtherPropertyPlantEquipment 2024-10-31 06695826 bus:SmallEntities 2023-11-01 2024-10-31 06695826 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 06695826 bus:FilletedAccounts 2023-11-01 2024-10-31 06695826 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 06695826 bus:RegisteredOffice 2023-11-01 2024-10-31 06695826 bus:CompanySecretaryDirector1 2023-11-01 2024-10-31 06695826 bus:Director2 2023-11-01 2024-10-31 06695826 bus:Director3 2023-11-01 2024-10-31 06695826 bus:Director4 2023-11-01 2024-10-31 06695826 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-11-01 2024-10-31 06695826 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 06695826 core:Goodwill 2023-11-01 2024-10-31 06695826 core:Buildings 2023-11-01 2024-10-31 06695826 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 06695826 core:LandBuildings 2023-11-01 2024-10-31 06695826 core:MotorVehicles 2023-11-01 2024-10-31 06695826 core:OfficeEquipment 2023-11-01 2024-10-31 06695826 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 06695826 core:ToolsEquipment 2023-11-01 2024-10-31 06695826 countries:EnglandWales 2023-11-01 2024-10-31 06695826 2023-10-31 06695826 core:Goodwill 2023-10-31 06695826 core:FurnitureFittingsToolsEquipment 2023-10-31 06695826 core:LandBuildings 2023-10-31 06695826 core:MotorVehicles 2023-10-31 06695826 core:OtherPropertyPlantEquipment 2023-10-31 06695826 2022-11-01 2023-10-31 06695826 2023-10-31 06695826 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-10-31 06695826 core:FinanceLeases core:CurrentFinancialInstruments 2023-10-31 06695826 core:FinanceLeases core:Non-currentFinancialInstruments 2023-10-31 06695826 core:CurrentFinancialInstruments 2023-10-31 06695826 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 06695826 core:Non-currentFinancialInstruments 2023-10-31 06695826 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 06695826 core:Goodwill 2023-10-31 06695826 core:FurnitureFittingsToolsEquipment 2023-10-31 06695826 core:LandBuildings 2023-10-31 06695826 core:MotorVehicles 2023-10-31 06695826 core:OtherPropertyPlantEquipment 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06695826

Powys Funeral Services Limited

trading as Leach & Son

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Powys Funeral Services Limited

trading as Leach & Son

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Powys Funeral Services Limited

trading as Leach & Son

Company Information

Directors

S J Williams

S J Tranter

W A Willis

R Parkes

Company secretary

S J Williams

Registered office

Argyll House
Dawley Bank
Telford
Shropshire
TF4 2BD

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Powys Funeral Services Limited

trading as Leach & Son

(Registration number: 06695826)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

24,624

30,792

Tangible assets

5

1,593,145

581,230

 

1,617,769

612,022

Current assets

 

Stocks

6

40,319

52,135

Debtors

7

106,874

106,004

Cash at bank and in hand

 

268

73,398

 

147,461

231,537

Creditors: Amounts falling due within one year

8

(509,106)

(160,721)

Net current (liabilities)/assets

 

(361,645)

70,816

Total assets less current liabilities

 

1,256,124

682,838

Creditors: Amounts falling due after more than one year

8

(853,077)

(289,475)

Net assets

 

403,047

393,363

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

402,947

393,263

Shareholders' funds

 

403,047

393,363

For the financial year ending 31 October 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.

 

Powys Funeral Services Limited

trading as Leach & Son

(Registration number: 06695826)
Balance Sheet as at 31 October 2024

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 28 April 2025 and signed on its behalf by:
 

S J Williams
Company secretary and director

W A Willis
Director

 
     
 

Powys Funeral Services Limited

trading as Leach & Son

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
Argyll House
Dawley Bank
Telford
Shropshire
TF4 2BD

The principal place of business is:
Mount Severn
Pool Road
Newtown
SY16 1DW

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Powys Funeral Services Limited

trading as Leach & Son

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises 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.

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

Land and buildings

Not depreciated

Tenants additions

15% reducing balance

Equipment

20% reducing balance

Office furnishings

20% reducing balance

Motor vehicles

25% reducing balance

Land is not depreciated. The building will be depreciated based on its useful life and residual value once it is brought into use in the company's trade.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line

 

Powys Funeral Services Limited

trading as Leach & Son

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

123,311

123,311

At 31 October 2024

123,311

123,311

Amortisation

At 1 November 2023

92,519

92,519

Amortisation charge

6,168

6,168

At 31 October 2024

98,687

98,687

Carrying amount

At 31 October 2024

24,624

24,624

At 31 October 2023

30,792

30,792

 

Powys Funeral Services Limited

trading as Leach & Son

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

507,155

27,831

181,708

42,253

758,947

Additions

998,108

-

-

34,772

1,032,880

At 31 October 2024

1,505,263

27,831

181,708

77,025

1,791,827

Depreciation

At 1 November 2023

-

20,373

123,890

33,454

177,717

Charge for the year

-

1,492

14,453

5,020

20,965

At 31 October 2024

-

21,865

138,343

38,474

198,682

Carrying amount

At 31 October 2024

1,505,263

5,966

43,365

38,551

1,593,145

At 31 October 2023

507,155

7,458

57,818

8,799

581,230

 

Powys Funeral Services Limited

trading as Leach & Son

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Included within the net book value of £1,593,145 is £43,543 (2023 - £19,913) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £8,157 (2023 - £6,637).

Included within the net book value of land and buildings above is £1,505,263 (2023 - £507,155) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

40,319

52,135

7

Debtors

2024
£

2023
£

Trade debtors

64,483

74,669

Prepayments

8,063

7,335

Other debtors

34,328

24,000

106,874

106,004

 

Powys Funeral Services Limited

trading as Leach & Son

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

125,358

15,733

Trade creditors

 

25,212

22,208

Taxation and social security

 

28,088

41,630

Accruals and deferred income

 

50,187

81,150

Other creditors

 

280,261

-

 

509,106

160,721

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

853,077

289,475

Creditors include bank loans repayable by instalments of £630,307 due after more than five years.

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Powys Funeral Services Limited

trading as Leach & Son

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

827,533

279,920

Finance lease liabilities

25,544

9,555

853,077

289,475

Current loans and borrowings

2024
£

2023
£

Bank borrowings

44,906

10,000

Bank overdrafts

68,362

-

Finance lease liabilities

12,090

5,733

125,358

15,733

Monies due under finance leases are secured against the asset to which they relate.

Bank borrowings are secured against a fixed and floating charge over the assets of the company.

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £38,689 (2023 - £538,829).

The total amount of contingencies not included in the balance sheet is £Nil (2023 - £16,328).

12

Related party transactions

At 31 October 2024 there is a balance of £24,000 (2023 - £24,000) due from one of the directors which is included in other debtors.

The company had liabilities owed to related parties, being other companies controlled by the directors and one of the directors, totalling £264,803, which are included in Other creditors. These balances are unsecured and have no fixed terms of repayment.