R.J. Pryce & Co. Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 00559151

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		373,190		392,374
Investments	6		920		920

			374,110		393,294
CURRENT ASSETS
Stocks	7	413,307		651,395
Debtors	8	561,699		373,135
Cash at bank and in hand		826,577		672,707

		1,801,583		1,697,237
Creditors: Amounts Falling Due Within One Year	9	(1,463,097 )		(260,015 )

NET CURRENT ASSETS (LIABILITIES)			338,486		1,437,222

TOTAL ASSETS LESS CURRENT LIABILITIES			712,596		1,830,516

Creditors: Amounts Falling Due After More Than One Year	10		(25,000 )		(25,000 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(9,702 )

NET ASSETS			687,596		1,795,814

CAPITAL AND RESERVES
Called up share capital	12		1,000		1,000
Revaluation reserve	14		322,933		322,933
Other reserves			148,479		148,479
Profit and Loss Account			215,184		1,323,402

SHAREHOLDERS' FUNDS			687,596		1,795,814

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R.J. Pryce & Co. Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr S Pryce

Director

29 September 2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

R.J. Pryce & Co. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00559151 . The registered office is 3a Quay View Business Park, Barnards Way, Lowestoft, Suffolk, NR32 2HD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% on cost
Plant & Machinery	15% to 30% on reducing balance
Motor Vehicles	20% on reducing balance and 20% on cost
Fixtures & Fittings	15% to 30% on reducing balance
Computer Equipment	15% to 30% on reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

...CONTINUED

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R.J. Pryce & Co. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 16 (2023: 16)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	27,500

As at 31 December 2024	27,500

Amortisation
As at 1 January 2024	27,500

As at 31 December 2024	27,500

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 January 2024	550,000	65,398	68,293	42,862	726,553
Additions	-	-	-	244	244
Disposals	-	(195 )	-	-	(195 )

As at 31 December 2024	550,000	65,203	68,293	43,106	726,602

Depreciation
As at 1 January 2024	197,987	48,528	51,221	36,443	334,179
Provided during the period	11,000	3,317	3,242	1,868	19,427
Disposals	-	(194 )	-	-	(194 )

As at 31 December 2024	208,987	51,651	54,463	38,311	353,412

Net Book Value
As at 31 December 2024	341,013	13,552	13,830	4,795	373,190

As at 1 January 2024	352,013	16,870	17,072	6,419	392,374

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R.J. Pryce & Co. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Cost or valuation as at 31 December 2024 represented by:

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
At cost	550,000	65,203	68,293	43,106	726,602

	550,000	65,203	68,293	43,106	726,602

Freehold property was revalued to £550,000 at 30 November 2005.

6. Investments

	Unlisted
	£
Cost or Valuation
As at 1 January 2024	920

As at 31 December 2024	920

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	920

As at 1 January 2024	920

7. Stocks

	2024	2023
	£	£
Stock	413,307	651,395

8. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	291,576	342,516
Other debtors	270,123	30,619

	561,699	373,135

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R.J. Pryce & Co. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	124,374	153,040
Bank loans and overdrafts	39,921	21,190
Other creditors	1,040,194	38,474
Taxation and social security	258,608	47,311

	1,463,097	260,015

10. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Other creditors	25,000	25,000

11. Secured Creditors

The bank overdraft is secured by a legal charge over the land and freehold property of the land and freehold of the company dated 13 March 1998 and by a floating charge over the assets of the company by way of a debenture dated 19 July 2003.

	2024		2023
	£		£
Bank loans and overdrafts	39,921		21,190

12. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1,000	1,000

13. Financial Instruments

During the year, the company received a non-refundable payment of £1,000,000 from a third party in respect of an option agreement granting the right to purchase Trinity Road owned by the company.

The option agreement provides the counterparty with the exclusive right to acquire the property at a fixed price withing a defined period. The payment received does not confer any ownership rigts and is not refundable under the terms of the agreement.

In accordance with FRS 102 Section 1A, the payment has been recognised as deferred income within the current liabilities on the balance sheet. The income will be recognised as follows:

- If the otpion is exercised, the deferred income will be induced as part of the total consideration for the sale of the property.

- If the option expires unexercised, the deferred income will be recognised as other operating income in the profit and loss account.

14. Reserves

	Revaluation Reserve
	£
As at 1 January 2024	322,933

As at 31 December 2024	322,933

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