ACCOUNTS - Final Accounts preparation

Company Registration Number: 14864550

PRINGLE AND COLLINS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

PRINGLE AND COLLINS LIMITED

REGISTERED NUMBER: 14864550

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		2,306		4,610
			2,306		4,610
Current assets
Stocks		-		1,034,697
Debtors: amounts falling due within one year	5	57,492		1,282
Cash at bank and in hand	6	435,353		3,969
		492,845		1,039,948
Creditors: amounts falling due within one year	7	(1,054,964)		(1,599,813)
Net current liabilities			(562,119)		(559,865)
Total assets less current liabilities			(559,813)		(555,255)

Net liabilities			(559,813)		(555,255)

Capital and reserves
Called up share capital	8	3	3
Profit and loss account	9	(559,816)	(555,258)
		(559,813)	(555,255)

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PRINGLE AND COLLINS LIMITED

REGISTERED NUMBER: 14864550

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

R P Brocklesby

Director

Date: 27 July 2026

The notes on pages 3 to 7 form part of these financial statements.

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PRINGLE AND COLLINS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1.	General information

Pringle and Collins Limited is a private company limited by shares, incorporated and registered in England and Wales under company number 14864550.

The Company's registered office is The Dovecote Hesslewood Office Park, Ferriby Road, Hessle, HU13 0QF.

The Company's principle activities are the manufacture of oils and fats.

The financial statements are for a 12 month period to 31 October 2025, and therefore not entirely comparable with the comparative 17 month period to 31 October 2024.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The accounts have been prepared on a going concern basis notwithstanding the operating loss and net liabilities position.

In reaching their conclusion, the directors have considered their cash flow from a period of 12 months from the date of sign off and considered the various financial support measures that the company has access to if required.

After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Majority of foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. Raw material purchases utilise forward contracts at the time of the sale.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

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PRINGLE AND COLLINS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Website

years

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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PRINGLE AND COLLINS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Intangible assets

		Computer software
		£
	Cost
	At 1 November 2024	4,610
	At 31 October 2025	4,610
	Amortisation
	Charge for the year on owned assets	2,304
	At 31 October 2025	2,304
	Net book value
	At 31 October 2025	2,306
	At 31 October 2024	4,610

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PRINGLE AND COLLINS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Debtors

					2025	2024
					£	£


Trade debtors	4,818	-
Other debtors	52,674	136
Prepayments and accrued income	-	1,146
	57,492	1,282

6.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	435,353	3,969

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	977	51,691
Other taxation and social security	640	-
Other creditors	1,049,997	1,544,997
Accruals and deferred income	3,350	3,125
	1,054,964	1,599,813

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

3 (2024 - 3) Ordinary shares of £1.00 each	3	3

Reserves

Profit and loss account

The reserve comprises of accumulated, distributable profits and losses.

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PRINGLE AND COLLINS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

10.

Related party transactions

During the year the following transactions with related parties took place:

Included within other debtors is a balance owed by Adams and Green Limited, a company under common control, of £52,674 (2024: £495,000 owed to and included in other creditors). Purchases totalling £1,956 (2024: £6,001) were made from Adams and Green Limited during the year.

Included within other creditors is amounts owed to the Directors. At 31 October 2025, the amount owed to the Directors totalled £1,049,997 (2024: £1,049,997). No interest is charged on the loans from Directors and the amounts are repayable on demand.

11.	Controlling party

The ultimate controlling party is R P Brocklesby.

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