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Registration number: 04931444

P & J Lister Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

P & J Lister Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

P & J Lister Limited

Company Information

Directors

P J Lister

J P Lister

Company secretary

P J Lister

Registered office

The Lakes Homecentre
Low Road
Cockermouth
Cumbria
CA13 1HH

 

P & J Lister Limited

Directors' Report for the Year Ended 31 January 2025

The directors present their report and the financial statements for the year ended 31 January 2025.

Directors of the company

The directors who held office during the year were as follows:

P J Lister - Company secretary and director

J P Lister

Principal activity

The principal activity of the company is sale of DIY materials, kitchen and bathroom furniture and home furniture.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 11 June 2025 and signed on its behalf by:
 

.........................................
P J Lister
Company secretary and director

.........................................
J P Lister
Director

 

P & J Lister Limited

(Registration number: 04931444)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

5

1

1

Tangible assets

6

1,237,106

1,276,399

 

1,237,107

1,276,400

Current assets

 

Stocks

7

526,224

590,472

Debtors

8

1,162,143

924,565

Investments

9

50,000

50,000

Cash at bank and in hand

 

549,919

652,756

 

2,288,286

2,217,793

Creditors: Amounts falling due within one year

10

(740,414)

(684,671)

Net current assets

 

1,547,872

1,533,122

Total assets less current liabilities

 

2,784,979

2,809,522

Creditors: Amounts falling due after more than one year

10

(205,014)

(290,123)

Net assets

 

2,579,965

2,519,399

Capital and reserves

 

Called up share capital

10,001

10,001

Retained earnings

2,569,964

2,509,398

Shareholders' funds

 

2,579,965

2,519,399

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 and Directors' Report.

Approved and authorised by the Board on 11 June 2025 and signed on its behalf by:
 

 

P & J Lister Limited

(Registration number: 04931444)
Balance Sheet as at 31 January 2025

.........................................
P J Lister
Company secretary and director

.........................................
J P Lister
Director

 

P & J Lister 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 and Wales.

The address of its registered office is:
The Lakes Homecentre
Low Road
Cockermouth
Cumbria
CA13 1HH

The principal place of business is:
12 New Yard
Clay Flatts
Workington
CA14 3YE

These financial statements were authorised for issue by the Board on 11 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 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.

 

P & J Lister Limited

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

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

Freehold Property

2% straight line

Fixtures & Fittings

15% straight line

Motor Vehicles

20% straight line

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

0% on cost

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

P & J Lister 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.

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.

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.

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.

 

P & J Lister 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 60 (2024 - 62).

4

Taxation

Tax charged/(credited) in the profit and loss account

2025
£

2024
£

Current taxation

UK corporation tax

29,487

26,498

 

P & J Lister Limited

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

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2024

1

1

At 31 January 2025

1

1

Amortisation

Carrying amount

At 31 January 2025

1

1

At 31 January 2024

1

1

6

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

1,925,727

427,917

15,445

2,369,089

Additions

-

3,619

6,595

10,214

Disposals

-

-

(5,000)

(5,000)

At 31 January 2025

1,925,727

431,536

17,040

2,374,303

Depreciation

At 1 February 2024

676,299

400,946

15,445

1,092,690

Charge for the year

38,514

9,775

1,218

49,507

Eliminated on disposal

-

-

(5,000)

(5,000)

At 31 January 2025

714,813

410,721

11,663

1,137,197

Carrying amount

At 31 January 2025

1,210,914

20,815

5,377

1,237,106

At 31 January 2024

1,249,428

26,971

-

1,276,399

Included within the net book value of land and buildings above is £1,210,914 (2024 - £1,249,429) in respect of freehold land and buildings.
 

7

Stocks

2025
£

2024
£

Finished goods and goods for resale

526,224

590,472

 

P & J Lister Limited

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

8

Debtors

Current

2025
£

2024
£

Prepayments

23,227

22,500

Other debtors

1,138,916

902,065

 

1,162,143

924,565

9

Current asset investments

2025
£

2024
£

Other investments

50,000

50,000

 

P & J Lister Limited

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

10

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

11

77,236

74,704

Trade creditors

 

211,901

155,078

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

247,286

205,401

Taxation and social security

 

141,631

139,447

Accruals and deferred income

 

35,480

75,400

Other creditors

 

26,880

34,641

 

740,414

684,671

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

11

205,014

290,123

11

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

205,014

290,123

Current loans and borrowings

2025
£

2024
£

Bank borrowings

77,236

74,704

 

P & J Lister Limited

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

12

Related party transactions

Transactions with directors

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

P J Lister

604,219

88,716

(67,147)

625,789

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

P J Lister

622,138

60,281

(78,201)

604,219

The director had an outstanding loan with the company during the year. The loan was subject to an interest rate of 2.5% per annum, and the total interest charged during the year was £15,185. The director repaid £67,147 of the loan during the year. The total outstanding loan at the end of the year was £625,789.