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COMPANY REGISTRATION NUMBER: 5586397
PETER BELLWOOD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 October 2024
PETER BELLWOOD LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2024
CONTENTS
PAGE
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
The following pages do not form part of the financial statements
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
9
PETER BELLWOOD LIMITED
DIRECTOR'S REPORT
YEAR ENDED 31 OCTOBER 2024
The director presents his report and the unaudited financial statements of the company for the year ended 31 October 2024 .
PRINCIPAL ACTIVITIES
The principal activity of the company during the year was that of agricultural engineering.
DIRECTOR
The director who served the company during the year was as follows:
P Bellwood
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 July 2025 and signed on behalf of the board by:
S Bellwood
Company Secretary
Registered office:
8 York Road
Sheriff Hutton
York
YO60 6QH
PETER BELLWOOD LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED 31 OCTOBER 2024
2024
2023
Note
£
£
TURNOVER
92,825
93,500
Cost of sales
42,905
46,325
--------
--------
GROSS PROFIT
49,920
47,175
Administrative expenses
24,087
22,837
--------
--------
OPERATING PROFIT
25,833
24,338
Other interest receivable and similar income
353
176
--------
--------
PROFIT BEFORE TAXATION
5
26,186
24,514
Tax on profit
4,975
4,658
--------
--------
PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME
21,211
19,856
--------
--------
Dividends paid and payable
( 20,000)
( 20,000)
RETAINED EARNINGS AT THE START OF THE YEAR
5,505
5,649
--------
--------
RETAINED EARNINGS AT THE END OF THE YEAR
6,716
5,505
--------
--------
All the activities of the company are from continuing operations.
PETER BELLWOOD LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
6
5,001
6,606
CURRENT ASSETS
Stocks and work in progress
10,073
12,256
Debtors
7
54,376
44,337
Cash at bank and in hand
16,799
16,633
--------
--------
81,248
73,226
CREDITORS: amounts falling due within one year
8
78,582
73,081
--------
--------
NET CURRENT ASSETS
2,666
145
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
7,667
6,751
PROVISIONS
Taxation including deferred tax
950
1,245
-------
-------
NET ASSETS
6,717
5,506
-------
-------
PETER BELLWOOD LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2024
2024
2023
Note
£
£
£
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
6,716
5,505
-------
-------
SHAREHOLDERS FUNDS
6,717
5,506
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 October 2024 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 July 2025 , and are signed on behalf of the board by:
P Bellwood
Director
Company registration number: 5586397
PETER BELLWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 York Road, Sheriff Hutton, York, YO60 6QH.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
In March 2020, the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
20% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
20 % reducing balance
(g) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(h) Financial instruments
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 entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to Nil (2023: 2 ).
5. PROFIT BEFORE TAXATION
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
1,605
2,129
-------
-------
6. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 November 2023 and 31 October 2024
9,286
18,750
948
28,984
-------
--------
----
--------
Depreciation
At 1 November 2023
8,606
13,042
730
22,378
Charge for the year
134
1,427
44
1,605
-------
--------
----
--------
At 31 October 2024
8,740
14,469
774
23,983
-------
--------
----
--------
Carrying amount
At 31 October 2024
546
4,281
174
5,001
-------
--------
----
--------
At 31 October 2023
680
5,708
218
6,606
-------
--------
----
--------
7. DEBTORS
2024
2023
£
£
Trade debtors
53,709
43,327
Other debtors
667
1,010
--------
--------
54,376
44,337
--------
--------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,013
5,433
Corporation tax
5,270
5,059
Social security and other taxes
12,001
9,876
Directors current account
53,864
51,415
Other creditors
1,434
1,298
--------
--------
78,582
73,081
--------
--------
PETER BELLWOOD LIMITED
MANAGEMENT INFORMATION
YEAR ENDED 31 OCTOBER 2024
The following pages do not form part of the financial statements.
PETER BELLWOOD LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PETER BELLWOOD LIMITED
YEAR ENDED 31 OCTOBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peter Bellwood Limited for the year ended 31 October 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Peter Bellwood Limited in accordance with the terms of our engagement letter dated 13 July 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Peter Bellwood Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peter Bellwood Limited and its director for our work or for this report.
It is your duty to ensure that Peter Bellwood Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Peter Bellwood Limited. You consider that Peter Bellwood Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Peter Bellwood Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
TOWNENDS ACCOUNTANTS LLP Chartered Accountants
Fulford Lodge 1 Heslington Lane Fulford York YO10 4HW
30 July 2025