Registration number: 07552694

J H Pitts & Sons Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

J H Pitts & Sons Ltd

Company Information

Director

Mr DJ Pitts

Company secretary

Manningtons Ltd

Registered office

8 High Street Heathfield East Sussex TN21 8LS

Accountants

Manningtons 8 High Street Heathfield East Sussex TN21 8LS

J H Pitts & Sons Ltd

(Registration number: 07552694)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,286,859	2,278,981
Current assets
Stocks	5	78,145	32,264
Debtors	6	553,605	618,099
Cash at bank and in hand		122,252	58,388
		754,002	708,751
Creditors: Amounts falling due within one year	7	(2,154,191)	(2,141,095)
Net current liabilities		(1,400,189)	(1,432,344)
Total assets less current liabilities		886,670	846,637
Provisions for liabilities		(57,492)	(55,995)
Net assets		829,178	790,642
Capital and reserves
Called up share capital		2,000,000	2,000,000
Retained earnings		(1,170,822)	(1,209,358)
Shareholders' funds		829,178	790,642

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 December 2025
 

......................................... Mr DJ Pitts Director

J H Pitts & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

The principal place of business is:
Footland Farm
Battle Road
Staplecross
East Sussex
TN32 5QU

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 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).

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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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.

Tax

The tax expense for the period comprises 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.

J H Pitts & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

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
Land and buildings	Not depreciated
Plant and Machinery	10% reducing balance
Motor vehicles	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 inventories 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.

J H Pitts & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

4	Tangible assets

	Land and buildings £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	1,984,272	20,550	511,690	2,516,512
Additions	-	35,050	105,600	140,650
Disposals	-	(19,250)	(141,000)	(160,250)
At 31 March 2025	1,984,272	36,350	476,290	2,496,912
Depreciation
At 1 April 2024	-	17,811	219,720	237,531
Charge for the year	-	8,804	31,972	40,776
Eliminated on disposal	-	(16,680)	(51,574)	(68,254)
At 31 March 2025	-	9,935	200,118	210,053
Carrying amount
At 31 March 2025	1,984,272	26,415	276,172	2,286,859
At 31 March 2024	1,984,272	2,739	291,970	2,278,981

Included within the net book value of land and buildings above is £1,984,272 (2024 - £1,984,272) in respect of freehold land and buildings.
 

J H Pitts & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Stocks

	2025 £	2024 £
Other inventories	78,145	32,264

6

Debtors

	2025 £	2024 £
Trade debtors	3,685	13,768
Other debtors	549,920	604,331
	553,605	618,099

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	8,632	38,281
Taxation and social security	2,638	-
Accruals and deferred income	1,000	1,000
Director loan account	2,141,921	2,101,814
	2,154,191	2,141,095