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Registration number: 02914596

George Pickersgill & Sons Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

George Pickersgill & Sons Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

George Pickersgill & Sons Limited

Company Information

Directors

Mr Hendrik Vogt Moulds

Mr Ciaran Anthony Mullarkey

Registered office

Unit 11 Hirst Wood Works
Shipley
West Yorkshire
BD18 4BU

Accountants

Smith Butler
Accountants & Business AdvisorsSapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

George Pickersgill & Sons Limited

(Registration number: 02914596)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

4,812

4,812

Tangible assets

5

161,676

184,053

 

166,488

188,865

Current assets

 

Debtors

6

389,898

415,246

Cash at bank and in hand

 

4,316

67,537

 

394,214

482,783

Creditors: Amounts falling due within one year

7

(152,342)

(156,202)

Net current assets

 

241,872

326,581

Total assets less current liabilities

 

408,360

515,446

Creditors: Amounts falling due after more than one year

7

(96,574)

(132,431)

Provisions for liabilities

(30,718)

(39,498)

Net assets

 

281,068

343,517

Capital and reserves

 

Called up share capital

8

30

30

Retained earnings

281,038

343,487

Shareholders' funds

 

281,068

343,517

 

George Pickersgill & Sons Limited

(Registration number: 02914596)
Balance Sheet as at 31 January 2025

For the financial year ending 31 January 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 and 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 9 June 2025 and signed on its behalf by:
 

.........................................
Mr Ciaran Anthony Mullarkey
Director

 

George Pickersgill & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

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

The address of its registered office is:
Unit 11 Hirst Wood Works
Shipley
West Yorkshire
BD18 4BU

These financial statements were authorised for issue by the Board on 9 June 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.

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

George Pickersgill & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Computer equipment

33% straight line

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

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

Not amortised

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.

 

George Pickersgill & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 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.

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.

 

George Pickersgill & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 13).

 

George Pickersgill & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2024

4,812

4,812

At 31 January 2025

4,812

4,812

Amortisation

Carrying amount

At 31 January 2025

4,812

4,812

At 31 January 2024

4,812

4,812

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

-

163,868

290,893

454,761

Additions

12,219

22,444

-

34,663

Disposals

-

-

(57,075)

(57,075)

At 31 January 2025

12,219

186,312

233,818

432,349

Depreciation

At 1 February 2024

-

150,269

120,439

270,708

Charge for the year

934

6,210

40,186

47,330

Eliminated on disposal

-

-

(47,365)

(47,365)

At 31 January 2025

934

156,479

113,260

270,673

Carrying amount

At 31 January 2025

11,285

29,833

120,558

161,676

At 31 January 2024

-

13,599

170,454

184,053

Included within the net book value of land and buildings above is £11,285 (2024 - £Nil) in respect of long leasehold land and buildings.
 

 

George Pickersgill & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Debtors

2025
£

2024
£

Trade debtors

58,945

90,217

Prepayments

38,725

32,802

Other debtors

292,228

292,227

389,898

415,246

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

36,131

35,732

Trade creditors

 

46,110

41,681

Taxation and social security

 

31,434

40,125

Accruals and deferred income

 

4,228

3,950

Other creditors

 

34,439

34,714

 

152,342

156,202

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

96,574

132,431

 

George Pickersgill & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary share of £1 each

30

30

30

30

       

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

65,383

90,872

Hire purchase contracts

31,191

41,559

96,574

132,431

Current loans and borrowings

2025
£

2024
£

Bank borrowings

25,501

25,365

Bank overdrafts

263

-

Hire purchase contracts

10,367

10,367

36,131

35,732