REGISTERED NUMBER: 00420115 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

W S PETTIT & CO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Pettit

Mrs S Pettit

P Pettit

REGISTERED OFFICE:

4 High Street

Mexborough

South Yorkshire

S64 9AW

REGISTERED NUMBER:

00420115 (England and Wales)

ACCOUNTANTS:

Hodgson & Oldfield

Aizlewood's Mill

Nursery Street

Sheffield

S3 8GG

FIXED ASSETS

Tangible assets

4

484,161

486,633

Investments

5

1

1

484,162

486,634

CURRENT ASSETS

Stocks

200,522

174,866

Debtors

6

15,421

15,006

Cash in hand

372

372

216,315

190,244

CREDITORS

Amounts falling due within one year

7

421,400

356,035

NET CURRENT LIABILITIES

(205,085

)

(165,791

)

TOTAL ASSETS LESS CURRENT LIABILITIES

279,077

320,843

CREDITORS

Amounts falling due after more than one year

8

(108,740

)

(137,513

)

PROVISIONS FOR LIABILITIES

(7,274

)

(7,506

)

NET ASSETS

163,063

175,824

CAPITAL AND RESERVES

Called up share capital

4,400

4,400

Revaluation reserve

10

148,571

145,985

Retained earnings

10,092

25,439

SHAREHOLDERS' FUNDS

163,063

175,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

P Pettit - Director

1.	STATUTORY INFORMATION

W S Pettit & Co Limited 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 (£).

Monetary amounts in these financial statements are rounded to the nearest £.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

1% on cost

Fixtures & improvements

-

15% on cost

Motor vehicles

-

25% on cost and 10% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investment in subsidiaries are measured at fair value with changes in fair value being recognised in the profit and loss account.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Consolidation

Exemption has been taken from preparing group financial statements as the group qualifies as a small size group.

The financial statements present information about the company as an individual undertaking.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2024 - 34 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 February 2024

480,939

471,607

952,546

Additions

-

4,049

4,049

Revaluations

4,218

-

4,218

At 31 January 2025

485,157

475,656

960,813

DEPRECIATION

At 1 February 2024

54,686

411,227

465,913

Charge for year

4,218

6,521

10,739

At 31 January 2025

58,904

417,748

476,652

NET BOOK VALUE

At 31 January 2025

426,253

57,908

484,161

At 31 January 2024

426,253

60,380

486,633

Included in cost or valuation of land and buildings is freehold land of £ 59,222 (2024 - £ 59,222 ) which is not depreciated.

Cost or valuation at 31 January 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2025

167,325

-

167,325

Cost

317,832

475,656

793,488

485,157

475,656

960,813

If Freehold property had not been revalued they would have been included at the following historical cost:

31.1.25

31.1.24

£

£

Cost

317,832

317,832

Value of land in freehold land and buildings

59,222

59,222

Freehold property was valued on an open market basis on 31 January 2025 by the directors .

Should the freehold properties be disposed of at their revalued amounts, it is estimated that no material tax liability would arise on the sale.

The net book value of fixed assets on hire purchase is £44,443, (2024: £48,566).

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2024

and 31 January 2025

1

NET BOOK VALUE

At 31 January 2025

1

At 31 January 2024

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

6,258

5,843

Other debtors

9,163

9,163

15,421

15,006

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

134,303

72,101

Hire purchase contracts

7,194

7,194

Trade creditors

198,167

187,256

Taxation and social security

58,692

66,572

Other creditors

23,044

22,912

421,400

356,035

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

81,539

103,118

Hire purchase contracts

27,201

34,395

108,740

137,513

Amounts falling due in more than five years:

Repayable by instalments

Bank Loan > 5 Years

9,378

24,765

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Bank overdrafts

112,723

51,161

Bank loans

103,119

124,058

Hire purchase contracts

34,395

41,589

250,237

216,808

The bank hold a legal charge and a debenture over the property and other assets of the company.

The H P companies hold a charge over the individual assets financed.

10.

RESERVES

Revaluation

reserve

£

At 1 February 2024

145,985

Revaluation reserve

2,586

At 31 January 2025

148,571

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £55,400 (2024 - £55,500) were paid to the directors .

12.	ULTIMATE CONTROLLING PARTY

The company is owned by the directors who own 100% of the issued share capital.