Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr K A Locke 11/06/2009 Mr C J Nowlan 01/10/2010 Miss D J Pitts 10/05/1996 Mr L D Purdie 04/01/2022 Mrs S L Purdie 10/05/1996 Mr D C Purdie 30/09/1991 Mr M Thorpe 01/11/2023 Mr B R Webb 18/07/2024 10/01/2005 Mr K A Locke 08 July 2025 The principal activity of the Company during the financial year was the sale, installation and maintenance of catering equipment. 01045503 2024-12-31 01045503 bus:Director1 2024-12-31 01045503 bus:Director2 2024-12-31 01045503 bus:Director3 2024-12-31 01045503 bus:Director4 2024-12-31 01045503 bus:Director5 2024-12-31 01045503 bus:Director6 2024-12-31 01045503 bus:Director7 2024-12-31 01045503 bus:Director8 2024-12-31 01045503 2023-12-31 01045503 core:CurrentFinancialInstruments 2024-12-31 01045503 core:CurrentFinancialInstruments 2023-12-31 01045503 core:ShareCapital 2024-12-31 01045503 core:ShareCapital 2023-12-31 01045503 core:CapitalRedemptionReserve 2024-12-31 01045503 core:CapitalRedemptionReserve 2023-12-31 01045503 core:OtherCapitalReserve 2024-12-31 01045503 core:OtherCapitalReserve 2023-12-31 01045503 core:RetainedEarningsAccumulatedLosses 2024-12-31 01045503 core:RetainedEarningsAccumulatedLosses 2023-12-31 01045503 core:Goodwill 2023-12-31 01045503 core:ComputerSoftware 2023-12-31 01045503 core:Goodwill 2024-12-31 01045503 core:ComputerSoftware 2024-12-31 01045503 core:Vehicles 2023-12-31 01045503 core:FurnitureFittings 2023-12-31 01045503 core:OfficeEquipment 2023-12-31 01045503 core:Vehicles 2024-12-31 01045503 core:FurnitureFittings 2024-12-31 01045503 core:OfficeEquipment 2024-12-31 01045503 core:CostValuation 2023-12-31 01045503 core:CostValuation 2024-12-31 01045503 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-12-31 01045503 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-12-31 01045503 bus:OrdinaryShareClass1 2024-12-31 01045503 bus:OrdinaryShareClass2 2024-12-31 01045503 bus:OrdinaryShareClass3 2024-12-31 01045503 bus:OrdinaryShareClass4 2024-12-31 01045503 bus:OrdinaryShareClass5 2024-12-31 01045503 2024-01-01 2024-12-31 01045503 bus:FilletedAccounts 2024-01-01 2024-12-31 01045503 bus:SmallEntities 2024-01-01 2024-12-31 01045503 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 01045503 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01045503 bus:Director1 2024-01-01 2024-12-31 01045503 bus:Director2 2024-01-01 2024-12-31 01045503 bus:Director3 2024-01-01 2024-12-31 01045503 bus:Director4 2024-01-01 2024-12-31 01045503 bus:Director5 2024-01-01 2024-12-31 01045503 bus:Director6 2024-01-01 2024-12-31 01045503 bus:Director7 2024-01-01 2024-12-31 01045503 bus:Director8 2024-01-01 2024-12-31 01045503 bus:CompanySecretary1 2024-01-01 2024-12-31 01045503 core:Goodwill core:TopRangeValue 2024-01-01 2024-12-31 01045503 core:ComputerSoftware core:TopRangeValue 2024-01-01 2024-12-31 01045503 core:Vehicles 2024-01-01 2024-12-31 01045503 core:FurnitureFittings 2024-01-01 2024-12-31 01045503 core:FurnitureFittings core:TopRangeValue 2024-01-01 2024-12-31 01045503 core:OfficeEquipment core:TopRangeValue 2024-01-01 2024-12-31 01045503 2023-01-01 2023-12-31 01045503 core:Goodwill 1 2024-01-01 2024-12-31 01045503 core:ComputerSoftware 1 2024-01-01 2024-12-31 01045503 1 2024-01-01 2024-12-31 01045503 core:Goodwill 2024-01-01 2024-12-31 01045503 core:ComputerSoftware 2024-01-01 2024-12-31 01045503 core:OfficeEquipment 2024-01-01 2024-12-31 01045503 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 01045503 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01045503 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 01045503 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 01045503 bus:OrdinaryShareClass3 2024-01-01 2024-12-31 01045503 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 01045503 bus:OrdinaryShareClass4 2024-01-01 2024-12-31 01045503 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 01045503 bus:OrdinaryShareClass5 2024-01-01 2024-12-31 01045503 bus:OrdinaryShareClass5 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01045503 (England and Wales)

ALLSOP & PITTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

ALLSOP & PITTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ALLSOP & PITTS LIMITED

BALANCE SHEET

As at 31 December 2024
ALLSOP & PITTS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 141,358 91,633
Tangible assets 4 260,455 273,232
Investment property 5 330,000 330,000
Investments 6 102 88,102
731,915 782,967
Current assets
Stocks 484,113 498,869
Debtors 7 613,186 589,593
Cash at bank and in hand 498,154 728,141
1,595,453 1,816,603
Creditors: amounts falling due within one year 8 ( 1,172,832) ( 1,238,685)
Net current assets 422,621 577,918
Total assets less current liabilities 1,154,536 1,360,885
Provision for liabilities ( 75,000) ( 79,000)
Net assets 1,079,536 1,281,885
Capital and reserves
Called-up share capital 9 750 788
Capital redemption reserve 38 0
Other reserves 466 466
Profit and loss account 1,078,282 1,280,631
Total shareholders' funds 1,079,536 1,281,885

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Allsop & Pitts Limited (registered number: 01045503) were approved and authorised for issue by the Board of Directors on 08 July 2025. They were signed on its behalf by:

Mr D C Purdie
Director
Miss D J Pitts
Director
ALLSOP & PITTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ALLSOP & PITTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Allsop & Pitts Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 102 Barton Road, Torquay, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Computer software 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 40 36

3. Intangible assets

Goodwill Computer software Total
£ £ £
Cost
At 01 January 2024 268,001 54,890 322,891
Transfer 88,000 0 88,000
At 31 December 2024 356,001 54,890 410,891
Accumulated amortisation
At 01 January 2024 187,600 43,658 231,258
Charge for the financial year 34,800 3,475 38,275
At 31 December 2024 222,400 47,133 269,533
Net book value
At 31 December 2024 133,601 7,757 141,358
At 31 December 2023 80,401 11,232 91,633

4. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 January 2024 407,403 180,887 233,545 821,835
Additions 80,746 16,791 2,343 99,880
Disposals ( 102,822) 0 0 ( 102,822)
At 31 December 2024 385,327 197,678 235,888 818,893
Accumulated depreciation
At 01 January 2024 161,545 163,831 223,227 548,603
Charge for the financial year 66,140 3,966 4,621 74,727
Disposals ( 64,892) 0 0 ( 64,892)
At 31 December 2024 162,793 167,797 227,848 558,438
Net book value
At 31 December 2024 222,534 29,881 8,040 260,455
At 31 December 2023 245,858 17,056 10,318 273,232

5. Investment property

Investment property
£
Valuation
As at 01 January 2024 330,000
As at 31 December 2024 330,000

6. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 88,102
Transfer (88,000)
At 31 December 2024 102
Carrying value at 31 December 2024 102
Carrying value at 31 December 2023 88,102

7. Debtors

2024 2023
£ £
Trade debtors 541,096 546,871
Amounts owed by related parties 32,350 4,392
Prepayments 39,486 36,120
Other debtors 254 2,210
613,186 589,593

8. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 14,167 0
Trade creditors 457,620 585,028
Amounts owed to directors 227,197 201,805
Accruals and deferred income 271,867 222,459
Taxation and social security 201,981 181,393
Other creditors 0 48,000
1,172,832 1,238,685

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
584 Ordinary shares of £ 1.00 each 584 584
50 Ordinary A shares of £ 1.00 each 50 50
1 Ordinary B share of £ 1.00 1 1
1 Ordinary C share of £ 1.00 1 1
636 636
Allotted, called-up and not yet paid
114 Management ordinary shares of £ 1.00 each (2023: 152 shares of £ 1.00 each) 114 152

10. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 632,698 686,329