N B Pitts Limited

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

Registered number: 04693437

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		29,394		72,407

			29,394		72,407
CURRENT ASSETS
Stocks	6	1,288		973
Debtors	7	852,616		877,432
Cash at bank and in hand		290,154		231,804

		1,144,058		1,110,209
Creditors: Amounts Falling Due Within One Year	8	(726,287 )		(794,035 )

NET CURRENT ASSETS (LIABILITIES)			417,771		316,174

TOTAL ASSETS LESS CURRENT LIABILITIES			447,165		388,581

PROVISIONS FOR LIABILITIES
Deferred Taxation			(7,348 )		(18,101 )

NET ASSETS			439,817		370,480

CAPITAL AND RESERVES
Called up share capital	9		200		200
Profit and Loss Account			439,617		370,280

SHAREHOLDERS' FUNDS			439,817		370,480

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N B Pitts Limited

Balance Sheet (continued)

As At 31 May 2025

For the year ending 31 May 2025 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 William Pitts

Director

27 November 2025

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

1. General Information

N B Pitts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04693437 . The registered office is Unit 3 Atlas House, West Devon Business Park, Tavistock, Devon, PL19 9DP.

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 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 sales/value added tax, returns, rebates and discounts.

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.

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.

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

Goodwill 10% straight line

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	5% straight line
Plant & Machinery	25% reducing balance
Computer Equipment	3 years straight line

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

The tax expense for the period comprises current and deferred 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 income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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N B Pitts Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

2.7. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

2.8. 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.

2.9. Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If

contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 4)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 June 2024	515,000

As at 31 May 2025	515,000

Amortisation
As at 1 June 2024	515,000

As at 31 May 2025	515,000

Net Book Value
As at 31 May 2025	-

As at 1 June 2024	-

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N B Pitts Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 June 2024	40,527	96,510	6,392	143,429
Disposals	-	(61,983 )	-	(61,983 )

As at 31 May 2025	40,527	34,527	6,392	81,446

Depreciation
As at 1 June 2024	14,404	51,750	4,868	71,022
Provided during the period	2,027	1,506	741	4,274
Disposals	-	(23,244 )	-	(23,244 )

As at 31 May 2025	16,431	30,012	5,609	52,052

Net Book Value
As at 31 May 2025	24,096	4,515	783	29,394

As at 1 June 2024	26,123	44,760	1,524	72,407

6. Stocks

	2025	2024
	£	£
Stock	1,288	973

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	739,585	849,382
Other debtors	113,031	28,050

	852,616	877,432

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	665,771	736,861
Other creditors	1,096	1,020
Taxation and social security	59,420	56,154

	726,287	794,035

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200	200

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N B Pitts Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

10. Related Party Transactions

Other Debtor includes the overdrawn director's loan at the year end the outstanding of £106,520 (2024 : £22,246 ). Interest was charged at the HMRC standard rate on the outstanding balance on a monthly basis. All loans to the directors are repayable on demand.

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