ACCOUNTS - Final Accounts preparation

Company registration number: 00573725

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	P.M. CLACK & SON LIMITED


P.M. CLACK & SON LIMITED

COMPANY INFORMATION

Directors	P L Clack
	D R Routledge
	L Routledge
	C Clack
	L K Routledge (appointed 9 December 2024)


Company secretary	C Clack


Registered number	00573725


Registered office	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


Accountants	Menzies LLP
	Chartered Accountants
	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


P.M. CLACK & SON LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 5


P.M. CLACK & SON LIMITED REGISTERED NUMBER:00573725

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		3,225,486		2,850,076
			3,225,486		2,850,076
Current assets
Debtors: amounts falling due within one year	5	4,025		3,979
Cash at bank and in hand		496,889		451,168
		500,914		455,147
Creditors: amounts falling due within one year	6	(49,177)		(53,390)
Net current assets			451,737		401,757
Total assets less current liabilities			3,677,223		3,251,833
Creditors: amounts falling due after more than one year	7		(100,000)		(100,000)
Provisions for liabilities
Deferred tax		(437,516)		(348,664)
			(437,516)		(348,664)
Net assets			3,139,707		2,803,169

Page 1


P.M. CLACK & SON LIMITED REGISTERED NUMBER:00573725

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

	2024	2023
	£	£

Capital and reserves
Allotted, called-up and fully-paid share capital	1,000	1,000
Profit and loss account	3,138,707	2,802,169
	3,139,707	2,803,169

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P L Clack

Director

Date: 9 June 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2


P.M. CLACK & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

P.M. Clack & Son Limited is a private company limited by shares incorporated in England and Wales. The registered office address is disclosed on the company information page. There is no principal place of business.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover comprises rents receivable in connection with the company's freehold investment properties.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

The estimated useful lives range as follows:

Equipment

33% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

2.4

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

2.5

Operating leases: the Company as lessor

Rental income from operating leases is credited to the Statement of Income and Retained Earnings on a straight line basis over the term of the relevant lease.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

Page 3


P.M. CLACK & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

4.	Tangible fixed assets

	Investment property	Equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	2,850,000	1,852	2,851,852
Additions	-	580	580
Revaluations	375,000	-	375,000
At 31 December 2024	3,225,000	2,432	3,227,432
Depreciation
At 1 January 2024	-	1,776	1,776
Charge for the year	-	170	170
At 31 December 2024	-	1,946	1,946
Net book value
At 31 December 2024	3,225,000	486	3,225,486
At 31 December 2023	2,850,000	76	2,850,076

The freehold investment property was valued by Perry Hill Chartered Surveyors on 23 April 2024 at £3,225,000.

Debtors

					2024	2023
					£	£


Prepayments and accrued income	4,025	3,979
	4,025	3,979

Page 4


P.M. CLACK & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	1,980	684
Corporation tax	12,889	18,865
Other taxation and social security	2,291	2,152
Other creditors	6,000	6,000
Accruals and deferred income	26,017	25,689
	49,177	53,390

7.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Other creditors	100,000	100,000
	100,000	100,000

8.	Transactions with directors
	Included within other creditors are the following transactions with the directors.

		2024	2023
		£	£

Balance outstanding at start of year	100,000	100,000
Amounts advanced	6,000	6,000
Amounts repaid	(6,000)	(6,000)
	100,000	100,000

Interest was charged at a rate of between 10 and 15% per annum. The loan is repayable on demand.

Page 5