| Registered number: 01243441 | ||||||||
| FOR THE YEAR ENDED 31/12/2025 | ||||||||
| Prepared By: | ||||||||
| Ian Dalzell Ltd | ||||||||
| Broughton Lodge Mews | ||||||||
| Field Broughton | ||||||||
| Grange-over-Sands | ||||||||
| Cumbria | ||||||||
| LA11 6HL | ||||||||
| PRICE WESTERN LEATHER CO LTD | ||||||||
| ACCOUNTS | ||||||||
| FOR THE YEAR ENDED 31/12/2025 | ||||||||
| DIRECTORS | ||||||||
| SECRETARY | ||||||||
| REGISTERED OFFICE | ||||||||
| COMPANY DETAILS | ||||||||
| Private company limited by shares registered in EW - England and Wales, registered number 01243441 | ||||||||
| ACCOUNTANTS | ||||||||
| Ian Dalzell Ltd | ||||||||
| Broughton Lodge Mews | ||||||||
| Field Broughton | ||||||||
| Grange-over-Sands | ||||||||
| Cumbria | ||||||||
| LA11 6HL | ||||||||
| PRICE WESTERN LEATHER CO LTD | ||||||||
| ACCOUNTS | ||||||||
| FOR THEYEARENDED31/12/2025 | ||||||||
| CONTENTS | ||||||||
| Page | ||||||||
| Directors' Report | - | |||||||
| Accountants' Report | - | |||||||
| Statement Of Comprehensive Income | - | |||||||
| Balance Sheet | 3 | |||||||
| Notes To The Accounts | 4 | |||||||
| The following do not form part of the statutory financial statements: | ||||||||
| Trading And Profit And Loss Account | - | |||||||
| Profit And Loss Account Summaries | - | |||||||
| PRICE WESTERN LEATHER CO LTD | ||||||||
| BALANCE SHEET AT | ||||||||||
| 2025 | 2024 | |||||||||
| Notes | £ | £ | ||||||||
| FIXED ASSETS | ||||||||||
| Intangible assets | 2 | |||||||||
| Tangible assets | 3 | |||||||||
| Investment Assets | 4 | |||||||||
| CURRENT ASSETS | ||||||||||
| Stock | ||||||||||
| Debtors | 6 | |||||||||
| Cash at bank and in hand | ||||||||||
| 1,802,229 | 1,866,593 | |||||||||
| CREDITORS: Amounts falling due within one year | 7 | |||||||||
| NET CURRENT ASSETS | 1,480,263 | |||||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
| CREDITORS: Amounts falling due after more than one year | 8 | 660,988 | 764,248 | |||||||
| PROVISIONS FOR LIABILITIES AND CHARGES | 10 | |||||||||
| NET ASSETS | ||||||||||
| CAPITAL AND RESERVES | ||||||||||
| Called up share capital | 11 | |||||||||
| Profit and loss account | 2,116,408 | 2,223,850 | ||||||||
| SHAREHOLDERS' FUNDS | ||||||||||
| Approved by the board on | ||||||||||
| ............................. | ||||||||||
| Director | ||||||||||
| PRICE WESTERN LEATHER CO LTD | ||||||||
| NOTES TO THE ACCOUNTS | ||||||||||
| FOR THE YEAR ENDED 31/12/2025 | ||||||||||
| 1. ACCOUNTING POLICIES |
| 1a. Basis Of Accounting | ||||||||
| The accounts have been prepared under the historical cost convention. | ||||||||
| The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . | ||||||||
| 1b. Depreciation | ||||||||
| Land And Buildings | reducing balance 15% | |||||||
| Plant and Machinery | reducing balance 15 to 33.3% | |||||||
| 1c. Stocks | ||||||||
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
| When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. | ||||||||
| 1d. Foreign Currency | ||||||||
| Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated. | ||||||||
| 1e. Investments | ||||||||
| Fixed asset investments are shown at cost less amounts written off. | ||||||||
| Provisions are not made for temporary fluctuations in value but where a value is deemed to be materially lower, then a provison is made. | ||||||||
| 1f . Deferred Tax | ||||||||
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. | ||||||||
| 1g . Leases | ||||||||
| Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term. | ||||||||
| PRICE WESTERN LEATHER CO LTD | ||||||||
| 2. INTANGIBLE FIXED ASSETS | ||||
| Patents | Total | |||
| £ | £ | |||
| Cost | ||||
| At 01/01/2025 | 1,400 | 1,400 | ||
| At 31/12/2025 | 1,400 | 1,400 | ||
| Depreciation | ||||
| At 01/01/2025 | 583 | 583 | ||
| For the year | 140 | 140 | ||
| At 31/12/2025 | 723 | 723 | ||
| Net Book Amounts | ||||
| At 31/12/2025 | ||||
| At 31/12/2024 | ||||
| 3. TANGIBLE FIXED ASSETS | ||||||
| Land And | Plant and | |||||
| Buildings | Machinery | Total | ||||
| £ | £ | £ | ||||
| Cost | ||||||
| At 01/01/2025 | 970,324 | 1,908,989 | 2,879,313 | |||
| Additions | 1,285 | 3,174 | 4,459 | |||
| Disposals | - | (290) | (290) | |||
| At 31/12/2025 | 971,609 | 1,911,873 | 2,883,482 | |||
| Depreciation | ||||||
| At 01/01/2025 | 71,321 | 1,054,951 | 1,126,272 | |||
| Disposals | - | (290) | (290) | |||
| For the year | 35,603 | 136,543 | 172,146 | |||
| At 31/12/2025 | 106,924 | 1,191,204 | 1,298,128 | |||
| Net Book Amounts | ||||||
| At 31/12/2025 | 1,585,354 | |||||
| At 31/12/2024 | 1,753,041 | |||||
| 4. FINANCIAL ASSETS | |||||||||
| Other | |||||||||
| Investments | Total | ||||||||
| £ | £ | ||||||||
| Cost | |||||||||
| At 01/01/2025 | 1,070 | 1,070 | |||||||
| At 31/12/2025 | 1,070 | 1,070 | |||||||
| Amortisation | |||||||||
| Net Book Amounts | |||||||||
| At 31/12/2025 | 1,070 | 1,070 | |||||||
| At 31/12/2024 | 1,070 | 1,070 | |||||||
| Other Investment Assets comprise Deactivated Weapons. | |||||||||
| PRICE WESTERN LEATHER CO LTD | ||||||||
| 5. STOCK | 2025 | 2024 | ||||
| £ | £ | |||||
| Stock comprises: | ||||||
| Stock raw materials | 344,439 | 386,104 | ||||
| Work in progress | ||||||
| Stock of finished goods | ||||||
| 6. DEBTORS | 2025 | 2024 | ||||||
| £ | £ | |||||||
| Amounts falling due within one year | ||||||||
| Trade debtors | 290,347 | 411,652 | ||||||
| UK corporation tax | - | 48,073 | ||||||
| Amounts due from group companies | 594,524 | 552,704 | ||||||
| Prepayments | 41,442 | 83,623 | ||||||
| 926,313 | 1,096,052 | |||||||
| Amount owing from Group Company due after one year £594,524 (2024: £552,704) | ||||||||
| 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
| 2025 | 2024 | |||||||
| £ | £ | |||||||
| UK corporation tax | 8,055 | - | ||||||
| VAT | 51,463 | 46,427 | ||||||
| PAYE control | 7,164 | 5,574 | ||||||
| Bank loans and overdrafts | 274 | 465 | ||||||
| Mortgage | 24,742 | 21,059 | ||||||
| Hire purchase | 52,435 | 62,694 | ||||||
| Payments received on account | 8,962 | 107 | ||||||
| Trade creditors | 180,329 | 189,780 | ||||||
| Pension schemes | 1,724 | 1,983 | ||||||
| Accruals | 67,784 | 58,241 | ||||||
| 402,932 | 386,330 | |||||||
| Included in Other Creditors is £77,177 (2024: £83,753) is repayable by instalments. | ||||||||
| 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
| 2025 | 2024 | |||||||
| £ | £ | |||||||
| Bank loans (secured) >1yr | 411,775 | 437,759 | ||||||
| Hire purchase >1yr | 108,454 | 160,889 | ||||||
| Deferred income>1yr | 140,759 | 165,600 | ||||||
| 660,988 | 764,248 | |||||||
| Hire Purchase and Finance Leases: £108,454 (2024: £160,889 is repayable by instalments after one year and within five years. £nil is repayable by instalments after 5 years. Bank Loan (secured): £99,181 (2024: £101,856) is repayable by instalments after one year and within five years. £312,594 (2024 £335,903) is repayable by instalments after 5 years. | ||||||||
| PRICE WESTERN LEATHER CO LTD | ||||||||
| 9. EMPLOYEES | ||||||
| 2025 | 2024 | |||||
| No. | No. | |||||
| Average number of employees | 39 | |||||
| 10. PROVISIONS FOR LIABILITIES | 2025 | 2024 | ||||||
| £ | £ | |||||||
| Deferred taxation | 208,902 | 246,993 | ||||||
| 208,902 | 246,993 | |||||||
| 11. SHARE CAPITAL | 2025 | 2024 | ||||||
| £ | £ | |||||||
| Allotted, issued and fully paid: | ||||||||
| 100 | 100 | |||||||
| 100 | 100 | |||||||
| 12. CONTROLLING PARTY | ||||||||
| The company is a wholly owned subsidiary of JJL Holding Company Ltd, a company registered in England. | ||||||||
| 13. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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