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Registration number: 06433219

Pearce Funeral Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Pearce Funeral Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Pearce Funeral Services Limited

(Registration number: 06433219)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

163,975

190,254

Current assets

 

Debtors

5

107,285

95,215

Cash at bank and in hand

 

50,096

65,093

 

157,381

160,308

Creditors: Amounts falling due within one year

6

(167,923)

(156,365)

Net current (liabilities)/assets

 

(10,542)

3,943

Total assets less current liabilities

 

153,433

194,197

Creditors: Amounts falling due after more than one year

6

(125,609)

(161,209)

Provisions for liabilities

(22,107)

(27,538)

Net assets

 

5,717

5,450

Capital and reserves

 

Called up share capital

300

210

Retained earnings

5,417

5,240

Shareholders' funds

 

5,717

5,450

 

Pearce Funeral Services Limited

(Registration number: 06433219)
Balance Sheet as at 30 November 2024

For the financial year ending 30 November 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.

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 4 June 2025 and signed on its behalf by:
 

.........................................
Mr J Pearce
Director

 

Pearce Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
92 Ermin Street
Stratton-St-Margaret
Swindon
Wiltshire
SN3 4NN

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.

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 from funeral services is shown net of sales, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

 

Pearce Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Asset class

Depreciation method and rate

Improvements

10 years

Furniture and fittings

7 years

Office equipment

3 years

Motor vehicles

5 years

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Pearce Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 19).

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 December 2023

172,092

67,954

18,556

116,545

Additions

-

48

934

6,250

At 30 November 2024

172,092

68,002

19,490

122,795

Depreciation

At 1 December 2023

71,295

36,116

15,365

62,117

Charge for the year

17,209

5,370

1,389

9,543

At 30 November 2024

88,504

41,486

16,754

71,660

Carrying amount

At 30 November 2024

83,588

26,516

2,736

51,135

At 30 November 2023

100,797

31,838

3,191

54,428

 

Pearce Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Total
£

Cost or valuation

At 1 December 2023

375,147

Additions

7,232

At 30 November 2024

382,379

Depreciation

At 1 December 2023

184,893

Charge for the year

33,511

At 30 November 2024

218,404

Carrying amount

At 30 November 2024

163,975

At 30 November 2023

190,254

Included within the net book value of land and buildings above is £83,588 (2023 - £100,797) in respect of short leasehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

78,626

65,517

Prepayments

10,903

12,639

Other debtors

17,756

17,059

 

107,285

95,215

 

Pearce Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

46,417

61,017

Trade creditors

 

69,294

79,146

Taxation and social security

 

33,728

7,066

Other creditors

 

18,484

9,136

 

167,923

156,365

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

125,609

161,209

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

10,817

26,137

Other borrowings

35,600

34,880

46,417

61,017

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

125,609

161,209

8

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 £1,105,083 (2023 - £1,329,983).