E W Button & Son Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

E W Button & Son Limited

Balance Sheet

28 February 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	-	3,230
Tangible assets	5	5,410,774	3,374,694
Investment property	6	150,000	-
		5,560,774	3,377,924
Current assets
Stocks	7	1,980,471	1,710,796
Debtors	8	1,076,418	1,166,138
Cash at bank and in hand		894	932
		3,057,783	2,877,866
Creditors: Amounts falling due within one year	9	(2,124,529)	(2,125,651)
Net current assets		933,254	752,215
Total assets less current liabilities		6,494,028	4,130,139
Creditors: Amounts falling due after more than one year	9	(4,030,779)	(2,264,879)
Provisions for liabilities		(687,309)	(509,635)
Net assets		1,775,940	1,355,625
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		1,774,940	1,354,625
Shareholders' funds		1,775,940	1,355,625

E W Button & Son Limited

Balance Sheet

28 February 2025

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 7 September 2025 and signed on its behalf by:
 

Mr A J Button Director

Company Registration Number: 06660262

E W Button & Son Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tregawn Michaelstow
St Trudy
Bodmin
Cornwall
PL30 3PB

These financial statements were authorised for issue by the Board on 7 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

E W Button & Son Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and equipment	15% Reducing balance and 10% Straight line
Motor vehicles	25% Reducing balance
Tenants improvements	5% Straight line
Freehold land	Not depreciated

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Entitlements	9% Straight line

E W Button & Son Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

E W Button & Son Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 37 (2024 - 37).

4	Intangible assets

	BPS entitlements  £	Total £
Cost or valuation
At 1 March 2024	16,669	16,669
Disposals	(16,669)	(16,669)
At 28 February 2025	-	-
Amortisation
At 1 March 2024	13,439	13,439
Amortisation eliminated on disposals	(13,439)	(13,439)
At 28 February 2025	-	-
Carrying amount
At 28 February 2025	-	-
At 29 February 2024	3,230	3,230

E W Button & Son Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

6	Investment properties

	2025 £
Additions	150,000
At 28 February	150,000

The fair value of the investment property has been arrived at on the basis of valuation carried out as at 8 November 2024 by an independent valuer.

The directors have reviewed the market value of properties held by the company at 28 February 2025 and confirm that there has been no material movement in the value of any properties owned.

7

Stocks

	2025 £	2024 £
Other inventories	1,980,471	1,710,796

8

Debtors

	2025 £	2024 £
Trade debtors	1,029,358	986,745
Prepayments	4,811	3,131
Other debtors	42,249	176,262
	1,076,418	1,166,138

E W Button & Son Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	847,347	1,000,550
Trade creditors		732,492	762,769
Corporation tax		31,731	-
Taxation and social security		4,286	4,050
Other creditors		214,661	37,913
Accruals and deferred income		294,012	320,369
		2,124,529	2,125,651