Company registration number 00517034 (England and Wales)
PERCY LORD AND SON LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
PERCY LORD AND SON LIMITED
COMPANY INFORMATION
Directors
P M Lord
A M Lord
Company number
00517034
Registered office
West Walk Building
110 Regent Road
Leicester
LE1 7LT
Accountants
Newby Castleman LLP
West Walk Building
110 Regent Road
Leicester
LE1 7LT
Business address
63 Blaby Road
South Wigston
Leicester
LE18 4PA
PERCY LORD AND SON LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
PERCY LORD AND SON LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
73,571
84,323
Investment properties
5
-
0
290,000
Investments
6
91,093
88,983
164,664
463,306
Current assets
Stocks
368,311
440,650
Debtors
7
25,005
24,806
Cash at bank and in hand
233,537
479
626,853
465,935
Creditors: amounts falling due within one year
8
(178,603)
(114,657)
Net current assets
448,250
351,278
Total assets less current liabilities
612,914
814,584
Creditors: amounts falling due after more than one year
9
(6,381)
(155,841)
Net assets
606,533
658,743
Capital and reserves
Called up share capital
10
150,000
150,000
Fair value reserve
88,239
153,867
Profit and loss reserves
368,294
354,876
Total equity
606,533
658,743

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 19 August 2025 and are signed on its behalf by:
P M Lord
Director
Company Registration No. 00517034
PERCY LORD AND SON LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
Share capital
Fair value reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 May 2023
150,000
153,737
350,195
653,932
Year ended 30 April 2024:
Profit and total comprehensive income for the year
-
-
4,811
4,811
Transfers
-
130
(130)
-
Balance at 30 April 2024
150,000
153,867
354,876
658,743
Year ended 30 April 2025:
Loss and total comprehensive income for the year
-
-
(52,210)
(52,210)
Transfers
-
(65,628)
65,628
-
Balance at 30 April 2025
150,000
88,239
368,294
606,533
PERCY LORD AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Percy Lord and Son Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Walk Building, 110 Regent Road, Leicester, LE1 7LT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over 2 years 8 months.

1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

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

TV Receivers & videos for rental
Colour - 1/60 of cost per month.
Video - 1/60 of cost per month.
Washing machines - 1/48 of cost per month.
Land and buildings Leasehold
2% per annum of cost
Plant and machinery
20% per annum of cost
Fixtures, fittings & equipment
10% per annum of cost
Motor vehicles
25% per annum of net book value
1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

PERCY LORD AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost comprises direct purchase costs. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

1.8
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.11
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

PERCY LORD AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
17
17
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
281,240
Amortisation and impairment
At 1 May 2024 and 30 April 2025
281,240
Carrying amount
At 30 April 2025
-
0
At 30 April 2024
-
0
PERCY LORD AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2024
55,748
683,903
739,651
Additions
-
10,054
10,054
Disposals
-
(20,795)
(20,795)
At 30 April 2025
55,748
673,162
728,910
Depreciation and impairment
At 1 May 2024
31,723
623,605
655,328
Depreciation charged in the year
1,115
17,203
18,318
Eliminated in respect of disposals
-
(18,307)
(18,307)
At 30 April 2025
32,838
622,501
655,339
Carrying amount
At 30 April 2025
22,910
50,661
73,571
At 30 April 2024
24,025
60,298
84,323
5
Investment property
2025
£
Fair value
At 1 May 2024
290,000
Disposals
(290,000)
At 30 April 2025
-
0

6
Fixed asset investments
2025
2024
£
£
Investments
91,093
88,983

PERCY LORD AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
10,344
15,535
Prepayments and accrued income
14,661
9,271
25,005
24,806
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
0
2,017
Payments received on account
2,218
3,109
Trade creditors
71,205
62,239
Corporation tax
9,036
-
0
Other taxation and social security
28,176
29,758
Other creditors
62,786
12,000
Accruals and deferred income
5,182
5,534
178,603
114,657
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
6,381
155,841
Amounts included above which fall due after five years are as follows:
Payable other than by instalments
6,381
155,841
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
150,000
150,000
150,000
150,000
PERCY LORD AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
198,333
226,333
2025-04-30 2024-05-01 false false false 20 August 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity P M Lord A M Lord 00517034 2024-05-01 2025-04-30 00517034 bus:Director1 2024-05-01 2025-04-30 00517034 bus:Director2 2024-05-01 2025-04-30 00517034 bus:RegisteredOffice 2024-05-01 2025-04-30 00517034 2025-04-30 00517034 2024-04-30 00517034 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 00517034 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 00517034 core:CurrentFinancialInstruments 2025-04-30 00517034 core:CurrentFinancialInstruments 2024-04-30 00517034 core:Non-currentFinancialInstruments 2025-04-30 00517034 core:Non-currentFinancialInstruments 2024-04-30 00517034 core:ShareCapital 2025-04-30 00517034 core:ShareCapital 2024-04-30 00517034 core:RevaluationReserve 2025-04-30 00517034 core:RevaluationReserve 2024-04-30 00517034 core:RetainedEarningsAccumulatedLosses 2025-04-30 00517034 core:RetainedEarningsAccumulatedLosses 2024-04-30 00517034 core:ShareCapital 2023-04-30 00517034 core:RevaluationReserve 2023-04-30 00517034 core:RetainedEarningsAccumulatedLosses 2023-04-30 00517034 2023-04-30 00517034 core:ShareCapitalOrdinaryShareClass1 2025-04-30 00517034 core:ShareCapitalOrdinaryShareClass1 2024-04-30 00517034 2023-05-01 2024-04-30 00517034 core:RevaluationReserve 2023-05-01 2024-04-30 00517034 core:RevaluationReserve 2024-05-01 2025-04-30 00517034 core:Goodwill 2024-05-01 2025-04-30 00517034 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-01 2025-04-30 00517034 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-05-01 2025-04-30 00517034 core:PlantMachinery 2024-05-01 2025-04-30 00517034 core:FurnitureFittings 2024-05-01 2025-04-30 00517034 core:MotorVehicles 2024-05-01 2025-04-30 00517034 core:NetGoodwill 2024-04-30 00517034 core:NetGoodwill 2025-04-30 00517034 core:NetGoodwill 2024-04-30 00517034 2024-04-30 00517034 bus:OrdinaryShareClass1 2024-05-01 2025-04-30 00517034 bus:OrdinaryShareClass1 2025-04-30 00517034 bus:OrdinaryShareClass1 2024-04-30 00517034 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 00517034 bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 00517034 bus:FRS102 2024-05-01 2025-04-30 00517034 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 00517034 bus:FullAccounts 2024-05-01 2025-04-30 xbrli:pure xbrli:shares iso4217:GBP