Pascoe & Waite Limited - Filleted accounts


PASCOE & WAITE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2025

































Company Registration Number: 05323549

PASCOE & WAITE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 8

PASCOE & WAITE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2025


DIRECTORS

Christopher Pascoe
Martin Waite


SECRETARY

Martin Waite


REGISTERED OFFICE

48 Crawley Road
Witney
Oxon
OX28 1HT


COMPANY REGISTRATION NUMBER

05323549 England and Wales

PASCOE & WAITE LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2025


	Notes	2025		2024
		£		£

FIXED ASSETS
Tangible assets	6		5,623		35,194

CURRENT ASSETS
Stock		1,790		6,050
Debtors	7	235,783		23,259
Cash at bank and in hand		-		11,853


		237,573		41,162

CREDITORS: Amounts falling due within one year	8	122,752		45,842
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS / (LIABILITIES)			114,821		(4,680)


TOTAL ASSETS LESS CURRENT LIABILITIES			120,444		30,514

CREDITORS: Amounts falling due after more than one year	9		-		2,643
CREDITORS: Amounts falling due after more than one year

Provisions for liabilities and charges			1,406		263


NET ASSETS			119,038		27,608


CAPITAL AND RESERVES
Called up share capital			2		2
Distributable profit and loss account			119,036		27,606


SHAREHOLDERS' FUNDS			119,038		27,608

PASCOE & WAITE LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2025


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

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

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors' Report.


Signed on behalf of the board of directors




Martin Waite						Christopher Pascoe
Director						Director

Date approved by the board: 4 September 2026

PASCOE & WAITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025


1	GENERAL INFORMATION

	Pascoe & Waite Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	48 Crawley Road
	Witney
	Oxon
	OX28 1HT

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of electrical services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Buildings					Not provided
	Motor vehicles					25% reducing balance
	Office equipment					25% reducing balance

	Depreciation has not been provided in respect of land and buildings. The company adopts a policy of fully maintaining these and as such the residual value is so high, and the expected useful life is so long, that the depreciation charge would be immaterial, both in terms of the depreciation charged for the period and the cumulative charge to the balance sheet.

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

PASCOE & WAITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Financial Instruments

	A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.

	Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.

	Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.


	Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.

PASCOE & WAITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Work in progress

	Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises the cost of materials and direct labour relevant to the stage of construction.

	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

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

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	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 taxable profits.

	Deferred tax is measured using 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.

	Current and deferred tax assets and liabilities are not discounted.

	Pensions

	The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

PASCOE & WAITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

4	RESTATEMENT OF COMPARATIVES

	Direct salaries totalling £37,627 have been reclassified from Administrative Expenses to Cost of Sales within the comparative figures.

5	EMPLOYEES

	The average number of persons employed by the company (including directors) during the year was:

				2025	2024
	Average number of employees			3	3


6	TANGIBLE ASSETS
		Buildings	Motor vehicles	Office equipment	Total
		£	£	£	£
	Cost
	At 1 January 2025	33,808	46,163	7,116	87,087

	Additions	-	5,500	-	5,500

	Disposals	(33,808)	-	-	(33,808)


	At 31 December 2025	-	51,663	7,116	58,779


	Accumulated depreciation
	At 1 January 2025	-	45,204	6,689	51,893

	Charge for year	-	1,156	107	1,263


	At 31 December 2025	-	46,360	6,796	53,156


	Net book value
	At 1 January 2025	33,808	959	427	35,194


	At 31 December 2025	-	5,303	320	5,623


7	DEBTORS
				2025	2024
				£	£
	Trade debtors			3,737	21,160
	Prepayments and accrued income			25,170	1,157
	Other debtors			206,876	942


				235,783	23,259

PASCOE & WAITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025


8	CREDITORS: Amounts falling due within one year
					2025		2024
					£		£
	Bank loans and overdrafts				17,632		5,188
	Trade creditors				6,261		5,300
	Taxation and social security				95,067		32,149
	Accruals and deferred income				2,132		1,307
	Other creditors				1,660		1,898


					122,752		45,842


9	CREDITORS: Amounts falling due after more than one year
					2025		2024
					£		£
	Bank loans and overdrafts				-		2,643


10	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

	The following directors' advances, credits and guarantees took place during the year:

		Balance at 1 January 2025		Amounts advanced	Amounts repaid	Balance at 31 December 2025
			£	£	£		£
	Christopher Pascoe		-	101,048	23,711		77,337
	Martin Waite		-	101,048	23,711		77,337


			-	202,096	47,422		154,674

Interest has been charged on these advances at the beneficial loan arrangement official rate as prescribed by HM Revenue and Customs. These advances are repayable on demand.