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J.M. PRATT LIMITED

Registered Number
00803525
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2025

J.M. PRATT LIMITED
Company Information
for the year from 1 June 2024 to 31 May 2025

Directors | ATHERTON, Shaun Francis
| BENVILLE, Anne
| BILLINGTON, Mark John Holme
| FEARNHEAD, Jillian
| PRATT, Denis

Registered Address | Birks Mill
| -
| Sedbergh
| LA10 5HQ

Registered Number | 00803525 (England and Wales)

J.M. PRATT LIMITED
Statement of Financial Position
31 May 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 1,067,251 |  |  |  | 910,640
|  |  |  | 1,067,251 |  |  |  | 910,640
Current assets |  |  |  |  |  |  |  |
Stocks |  | 662,903 |  |  |  | 735,292 |  |
Debtors | 4 | 778,181 |  |  |  | 837,275 |  |
Current asset investments |  | 215,595 |  |  |  | 209,200 |  |
Cash at bank and on hand |  | 292,857 |  |  |  | 406,534 |  |
|  | 1,949,536 |  |  |  | 2,188,301 |  |
Creditors amounts falling due within one year | 5 | (985,432) |  |  |  | (999,788) |  |
Net current assets (liabilities) |  |  |  | 964,104 |  |  |  | 1,188,513
Total assets less current liabilities |  |  |  | 2,031,355 |  |  |  | 2,099,153
Provisions for liabilities | 6 |  |  | (75,000) |  |  |  | (30,000)
Net assets |  |  |  | 1,956,355 |  |  |  | 2,069,153
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 16,000 |  |  |  | 16,000
Revaluation reserve |  |  |  | 212,209 |  |  |  | 212,209
Profit and loss account |  |  |  | 1,728,146 |  |  |  | 1,840,944
Shareholders' funds |  |  |  | 1,956,355 |  |  |  | 2,069,153

- The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 16 October 2025, and are signed on its behalf by:
BENVILLE, Anne Director Registered Company No. 00803525

J.M. PRATT LIMITED
Notes to the Financial Statements
for the year ended 31 May 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Basis of preparation
--- | ---
| The financial statements have been prepared under the historical cost convention on a going concern basis 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.

| Functional and presentation currency
--- | ---
| The financial statements are presented in sterling and this is the functional currency of the company.

| Going concern
--- | ---
| The company continues to adopt the going concern basis of accounting in preparing the financial statements.

| Turnover policy
--- | ---
| 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

| Operating leases
--- | ---
| Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

| Employee benefits
--- | ---
| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows: Plant and machinery - between 5% and 25% on cost Plant and machinery includes office equipment.

| Investments
--- | ---
| Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period. Investments in listed company shares are recognised as current when they can be readily accessed and converted to liquid funds within one month, in line with an arrangement with investment managers.

| Finance leases and hire purchase contracts
--- | ---
| Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

| Stocks and work in progress
--- | ---
| Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.

| Financial instruments
--- | ---
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 41 |  | 41

3. | Tangible fixed assets
--- | ---

|  | Land & buildings |  | Plant & machinery |  | Vehicles |  | Total
--- | --- | --- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
| Cost or valuation
| At 01 June 24 | 619,577 |  | 459,566 |  | 1,217,613 |  | 2,296,756
| Additions | - |  | 120,789 |  | 173,644 |  | 294,433
| Disposals | - |  | (56,980) |  | (145,468) |  | (202,448)
| At 31 May 25 | 619,577 |  | 523,375 |  | 1,245,789 |  | 2,388,741
| Depreciation and impairment
| At 01 June 24 | 44,341 |  | 421,240 |  | 920,535 |  | 1,386,116
| Charge for year | 11,482 |  | 16,395 |  | 109,945 |  | 137,822
| On disposals | - |  | (56,980) |  | (145,468) |  | (202,448)
| At 31 May 25 | 55,823 |  | 380,655 |  | 885,012 |  | 1,321,490
| Net book value
| At 31 May 25 | 563,754 |  | 142,720 |  | 360,777 |  | 1,067,251
| At 31 May 24 | 575,236 |  | 38,326 |  | 297,078 |  | 910,640

| Included in land and buildings is freehold land at an estimated cost of £45,500 (2024 - £45,500) which is not depreciated. Freehold land and buildings is included at the revalued amount of £575,000 based on a valuation by WBW Chartered Surveyors at an open market value on 31 May 2020. The directors confirm the valuation remains appropriate at the year end. If the land and buildings had not been included at valuation, they would have been included under the historical cost convention as follows: 2025 £ 2024 £ Cost 545,835 545,835 Accumulated depreciation (205,770) (194,289) Net book value 340,065 351,546

4. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 749,163 |  | 783,880
| Other debtors | 25,500 |  | 18,216
| Prepayments and accrued income | 3,518 |  | 35,179
| Total | 778,181 |  | 837,275

| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

5. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 777,541 |  | 727,433
| Taxation and social security | 138,233 |  | 236,769
| Other creditors | 1,060 |  | 534
| Accrued liabilities and deferred income | 68,598 |  | 35,052
| Total | 985,432 |  | 999,788

| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6. | Provisions for liabilities
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Net deferred tax liability (asset) | 75,000 |  | 30,000
| Total | 75,000 |  | 30,000

7. | Pension commitments
--- | ---
| The company operates a number of defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £81,034 (2024 - £60,981).