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Company Registration number: 06016140

Trevor Atkinson & Co Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended 31 March 2025

 

Trevor Atkinson & Co Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 9

 

Trevor Atkinson & Co Limited

Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

978,635

1,029,803

Investment property

6

875,000

875,000

 

1,853,635

1,904,803

Current assets

 

Stocks

7

54,707

50,906

Debtors

8

316,537

358,042

Cash at bank and in hand

 

6,299

690

 

377,543

409,638

Creditors: Amounts falling due within one year

9

(537,541)

(605,793)

Net current liabilities

 

(159,998)

(196,155)

Total assets less current liabilities

 

1,693,637

1,708,648

Creditors: Amounts falling due after more than one year

9

(257,751)

(305,847)

Provisions for liabilities

(111,226)

(94,255)

Net assets

 

1,324,660

1,308,546

Capital and reserves

 

Called up share capital

66

66

Retained earnings

1,324,594

1,308,480

Shareholders' funds

 

1,324,660

1,308,546

 

Trevor Atkinson & Co Limited

Balance Sheet as at 31 March 2025 (continued)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 06016140

Approved and authorised by the director on 10 June 2025
 

.........................................
Mr R W Atkinson
Director

 

Trevor Atkinson & Co Limited

Notes to the financial statements for the Year Ended 31 March 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:
Cobbler Yard
Mickleton
Barnard Castle
DL12 0LE

These financial statements were authorised for issue by the director on 10 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.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

 

Trevor Atkinson & Co Limited

Notes to the financial statements for the Year Ended 31 March 2025 (continued)

2

ACCOUNTING POLICIES (continued)

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.

Taxation

The tax expense for the period comprises corporation 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 corporation 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.

 

Trevor Atkinson & Co Limited

Notes to the financial statements for the Year Ended 31 March 2025 (continued)

2

ACCOUNTING POLICIES (continued)

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

7.5% reducing balance

Fixtures and fittings

15% reducing balance

Freehold property

No depreciation

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

 

Trevor Atkinson & Co Limited

Notes to the financial statements for the Year Ended 31 March 2025 (continued)

2

ACCOUNTING POLICIES (continued)

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including the director) during the year, was 14 (2024 - 14).

 

Trevor Atkinson & Co Limited

Notes to the financial statements for the Year Ended 31 March 2025 (continued)

4

INTANGIBLE ASSETS

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

100,000

100,000

At 31 March 2025

100,000

100,000

Amortisation

At 1 April 2024

100,000

100,000

At 31 March 2025

100,000

100,000

Carrying amount

At 31 March 2025

-

-

5

TANGIBLE ASSETS

Freehold property
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2024

549,717

6,567

1,001,659

1,557,943

Disposals

-

-

(31,600)

(31,600)

At 31 March 2025

549,717

6,567

970,059

1,526,343

Depreciation

At 1 April 2024

15,990

3,315

508,835

528,140

Charge for the year

-

488

36,820

37,308

Eliminated on disposal

-

-

(17,740)

(17,740)

At 31 March 2025

15,990

3,803

527,915

547,708

Carrying amount

At 31 March 2025

533,727

2,764

442,144

978,635

At 31 March 2024

533,727

3,252

492,824

1,029,803

 

Trevor Atkinson & Co Limited

Notes to the financial statements for the Year Ended 31 March 2025 (continued)

6

INVESTMENT PROPERTIES

2025
£

At 1 April 2024

875,000

At 31 March 2025

875,000

The investment properties were revalued as at 31 March 2025 by the director. The carrying amount of the investment property is £875,000. The director considers this to be the fair value of the property.

7

STOCKS

2025
£

2024
£

Work in progress

54,707

50,906

8

DEBTORS

Current

2025
£

2024
£

Trade debtors

13,000

-

Prepayments

3,976

-

Other debtors

299,561

358,042

 

316,537

358,042

 

Trevor Atkinson & Co Limited

Notes to the financial statements for the Year Ended 31 March 2025 (continued)

9

CREDITORS

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Loans and borrowings

345,737

345,545

Trade creditors

117,205

152,866

Taxation and social security

65,052

50,351

Accruals and deferred income

3,135

2,850

Other creditors

6,412

54,181

537,541

605,793


Included within creditors: amounts falling due within one year is £219,540 (2024: £204,344) of bank loans and overdrafts, £69,400 (2024: £64,624) of other loans and £56,797 (2024: £76,577) of hire purchase agreements which are secured on the tangible fixed assets of the company.

Creditors: amounts falling due after more than one year

2025
£

2024
£

Due after one year

Loans and borrowings

205,730

202,252

Other financial liabilities

52,021

103,595

257,751

305,847


Included within creditors: amounts falling due after more than one year is £130,229 (2024: £156,657) of bank loans and overdrafts, £69,400 (2024: £45,594) of other loans and £56,797 (2024: £103,596) of hire purchase agreements which are secured on the tangible fixed assets of the company.