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REGISTERED NUMBER: 04591817 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 December 2024

for

Pettitt Limited

Pettitt Limited (Registered number: 04591817)






Contents of the Financial Statements
for the Year Ended 30 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pettitt Limited

Company Information
for the Year Ended 30 December 2024







DIRECTORS: G A Pettitt
Mrs M M Pettitt





REGISTERED OFFICE: 1A New High Street
Ruabon
Wrexham
LL14 6NL





REGISTERED NUMBER: 04591817 (England and Wales)





ACCOUNTANTS: Guy Walmsley Limited
3 Grove Road
Wrexham
LL11 1DY

Pettitt Limited (Registered number: 04591817)

Balance Sheet
30 December 2024

30.12.24 30.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,670 4,670
Tangible assets 5 117,240 108,034
121,910 112,704

CURRENT ASSETS
Stocks 60,821 67,650
Debtors 6 14,495 16,716
Cash at bank and in hand 261,312 263,057
336,628 347,423
CREDITORS
Amounts falling due within one year 7 81,876 82,413
NET CURRENT ASSETS 254,752 265,010
TOTAL ASSETS LESS CURRENT
LIABILITIES

376,662

377,714

PROVISIONS FOR LIABILITIES 20,430 4,329
NET ASSETS 356,232 373,385

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 356,231 373,384
356,232 373,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Pettitt Limited (Registered number: 04591817)

Balance Sheet - continued
30 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by:




G A Pettitt - Director



Mrs M M Pettitt - Director


Pettitt Limited (Registered number: 04591817)

Notes to the Financial Statements
for the Year Ended 30 December 2024

1. STATUTORY INFORMATION

Pettitt Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separate from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less residual values over their useful lives on the following bases:

Patents & licences - Not depreciated

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, and is being amortised over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Not depreciated
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Pettitt Limited (Registered number: 04591817)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 31 December 2023
and 30 December 2024 25,000 4,670 29,670
AMORTISATION
At 31 December 2023
and 30 December 2024 25,000 - 25,000
NET BOOK VALUE
At 30 December 2024 - 4,670 4,670
At 30 December 2023 - 4,670 4,670

Pettitt Limited (Registered number: 04591817)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 31 December 2023 53,595 198,872 252,467
Additions - 20,439 20,439
At 30 December 2024 53,595 219,311 272,906
DEPRECIATION
At 31 December 2023 - 144,433 144,433
Charge for year - 11,233 11,233
At 30 December 2024 - 155,666 155,666
NET BOOK VALUE
At 30 December 2024 53,595 63,645 117,240
At 30 December 2023 53,595 54,439 108,034

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.24 30.12.23
£    £   
Trade debtors 8,899 10,181
Other debtors 5,596 6,535
14,495 16,716

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.24 30.12.23
£    £   
Trade creditors 49,885 63,340
Taxation and social security 199 9,909
Other creditors 31,792 9,164
81,876 82,413