REGISTERED NUMBER: 00409254 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

CHARLES TWITE & CO LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss R L Smith

SECRETARY:

Miss R L Smith

REGISTERED OFFICE:

Magna Road

South Wigston

Leicester

LE18 4ZD

REGISTERED NUMBER:

00409254 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

488,695

472,761

488,695

472,761

CURRENT ASSETS

Stocks

456,102

481,056

Debtors

6

129,618

190,460

Cash at bank and in hand

434,929

562,313

1,020,649

1,233,829

CREDITORS

Amounts falling due within one year

7

136,426

181,221

NET CURRENT ASSETS

884,223

1,052,608

TOTAL ASSETS LESS CURRENT LIABILITIES

1,372,918

1,525,369

CREDITORS

Amounts falling due after more than one year

8

41,483

17,945

NET ASSETS

1,331,435

1,507,424

CAPITAL AND RESERVES

Called up share capital

5,074

5,374

Revaluation reserve

9

378,655

383,765

Capital redemption reserve

9

15,126

14,826

Other reserves

9

12,651

12,651

Retained earnings

9

919,929

1,090,808

SHAREHOLDERS' FUNDS

1,331,435

1,507,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 30 July 2025 and were signed by:

Miss R L Smith - Director

1.	STATUTORY INFORMATION

Charles Twite & Co Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice value less estimated rebates, returns and settlement discounts.

The company supplies products to customers from its warehouses, under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on delivery of the goods.

Goodwill

Goodwill representing the excess of the purchase price compared with the fair value of net assets acquired is capitalised and written off evenly over 3 years as in the opinion of the directors this represents the period over which the goodwill is effective. Goodwill is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

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 excluding land

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

30% on reducing balance

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of fair value less costs to sell and value-in-use, are recognised as impairment losses. Impairments of revalued assets are treated as a revaluation decrease. All other impairment losses are recognised in profit and loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Taxation

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transition that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the group has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2024

and 30 April 2025

20,000

AMORTISATION

At 1 May 2024

and 30 April 2025

20,000

NET BOOK VALUE

At 30 April 2025

-

At 30 April 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 May 2024

420,000

166,482

68,167

654,649

Additions

-

2,352

46,101

48,453

Disposals

-

(624

)

-

(624

)

At 30 April 2025

420,000

168,210

114,268

702,478

DEPRECIATION

At 1 May 2024

31,472

121,614

28,802

181,888

Charge for year

5,351

9,434

17,568

32,353

Eliminated on disposal

-

(458

)

-

(458

)

At 30 April 2025

36,823

130,590

46,370

213,783

NET BOOK VALUE

At 30 April 2025

383,177

37,620

67,898

488,695

At 30 April 2024

388,528

44,868

39,365

472,761

Included in cost or valuation of land and buildings is freehold land of £ 133,776 (2024 - £ 133,776 ) which is not depreciated.

Cost or valuation at 30 April 2025 is represented by:

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

Valuation in 2019

420,000

168,210

114,268

702,478

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

18,672

18,672

Aggregate depreciation

12,448

12,448

Freehold land and buildings were valued on a fair value basis on 29 January 2019 by P G Tew FRICS of Peter Tew and Company .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

114,588

160,905

Taxation

1,943

-

Prepayments

13,087

29,555

129,618

190,460

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

16,372

12,667

Trade creditors

36,232

86,113

Taxation

-

2,422

Paye/Ni payable

5,265

4,650

VAT

52,778

52,867

Other creditors

13,138

12,634

Accrued expenses

12,641

9,868

136,426

181,221

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

41,483

17,945

9.

RESERVES

Capital

Retained

Revaluation

redemption

Other

earnings

reserve

reserve

reserves

Totals

£

£

£

£

£

At 1 May 2024

1,090,808

383,765

14,826

12,651

1,502,050

Deficit for the year

(73,628

)

(73,628

)

Dividends

(2,294

)

(2,294

)

Purchase of own shares

(100,067

)

-

300

-

(99,767

)

Transfer to P & L account

5,110

(5,110

)

-

-

-

At 30 April 2025

919,929

378,655

15,126

12,651

1,326,361

10.	PENSION COMMITMENTS

The company operates a pension scheme. The assets of the scheme are held separately from those of the company within independently administered funds. The charge for the year was £4,688 (2024: £4,401).

11.	RELATED PARTY DISCLOSURES

During the year, dividends on preference shares £Nil (2024: £Nil) were paid to directors of the company.