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REGISTERED NUMBER: 04619218 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 December 2024

for

D R Price Associates Limited

D R Price Associates Limited (Registered number: 04619218)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


D R Price Associates Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: D R Price
Mrs G J Price
Mrs J S Thompson



SECRETARY: Mrs G J Price



REGISTERED OFFICE: Prince William House
10 Lower Church Street
Ashby-de-la-Zouch
Leicestershire
LE65 1AB



REGISTERED NUMBER: 04619218 (England and Wales)



ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB



BANKERS: Handelsbanken
5 Hargreaves Court
Dyson Way
Staffordshire Technology Park
Staffordshire
ST18 0WN

D R Price Associates Limited (Registered number: 04619218)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 461,673 478,609
461,673 478,609

CURRENT ASSETS
Stocks 795 795
Debtors 6 682 52,607
Cash at bank and in hand 362,182 244,435
363,659 297,837
CREDITORS
Amounts falling due within one year 7 121,754 70,849
NET CURRENT ASSETS 241,905 226,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

703,578

705,597

PROVISIONS FOR LIABILITIES 5,277 5,182
NET ASSETS 698,301 700,415

CAPITAL AND RESERVES
Called up share capital 9 400 400
Revaluation reserve 10 475,255 475,255
Retained earnings 222,646 224,760
SHAREHOLDERS' FUNDS 698,301 700,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

D R Price Associates Limited (Registered number: 04619218)

Statement of Financial Position - continued
31 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 9 July 2025 and were signed on its behalf by:




D R Price - Director



Mrs G J Price - Director


D R Price Associates Limited (Registered number: 04619218)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

D R Price Associates 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 as modified by the revaluation of certain assets.

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 ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

D R Price Associates Limited (Registered number: 04619218)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Loans from directors
Any loans from the Director's to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 1
AMORTISATION
At 1 January 2024
and 31 December 2024 1
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

D R Price Associates Limited (Registered number: 04619218)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 January 2024 700,000 30,693 16,904
Additions - - -
At 31 December 2024 700,000 30,693 16,904
DEPRECIATION
At 1 January 2024 267,750 8,116 8,582
Charge for year 14,000 614 833
At 31 December 2024 281,750 8,730 9,415
NET BOOK VALUE
At 31 December 2024 418,250 21,963 7,489
At 31 December 2023 432,250 22,577 8,322

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2024 28,531 50,095 15,214 841,437
Additions - - 3,033 3,033
At 31 December 2024 28,531 50,095 18,247 844,470
DEPRECIATION
At 1 January 2024 24,959 38,207 15,214 362,828
Charge for year 539 2,972 1,011 19,969
At 31 December 2024 25,498 41,179 16,225 382,797
NET BOOK VALUE
At 31 December 2024 3,033 8,916 2,022 461,673
At 31 December 2023 3,572 11,888 - 478,609

Cost or valuation at 31 December 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2004 475,255 - -
Cost 224,745 30,693 16,904
700,000 30,693 16,904

D R Price Associates Limited (Registered number: 04619218)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2004 - - - 475,255
Cost 28,531 50,095 18,247 369,215
28,531 50,095 18,247 844,470

If the Freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 224,745 224,745
Aggregate depreciation 92,897 88,402

Freehold property was valued on an open market basis on 18 November 2004 by Pinders Business Appraisers and Valuers .

The directors have re assessed the carrying value of the freehold property in the accounts and consider £700,000 to be a realistic valuation as at the year end.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 36,883
Other debtors 682 15,724
682 52,607

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 8,092
Tax 55,751 44,392
Social security and other taxes 8,971 10,365
Other creditors 52,829 3,873
Directors' current accounts 427 403
Accrued expenses 3,776 3,724
121,754 70,849

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 8,092

D R Price Associates Limited (Registered number: 04619218)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
300 Ordinary A - C £1 300 300
400 400

10. RESERVES
Revaluation
reserve
£   
At 1 January 2024
and 31 December 2024 475,255

11. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments totalling £15,455 (2023 - £19,867) over the remaining period of the leases.