Prescott-Thomas Limited - Filleted accounts

Prescott-Thomas Limited
Registered number:		00600075
Balance Sheet
as at 30 June 2026

Notes			2026		2025
			£		£
Fixed assets
Tangible assets	3		77,052		97,410

Current assets
Stocks		120,000		105,000
Debtors	4	916,561		929,518
Cash at bank and in hand		2,008		1,831
		1,038,569		1,036,349

Creditors: amounts falling due within one year	5	(1,043,805)		(989,768)

Net current (liabilities)/assets			(5,236)		46,581

Total assets less current liabilities			71,816		143,991

Creditors: amounts falling due after more than one year	6		-		(10,850)



Net assets			£71,816		£133,141

Capital and reserves
Called up share capital			20,020		20,020
Profit and loss account			51,796		113,121

Shareholders' funds			£71,816		£133,141

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The 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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




P THOMAS
Director
Approved by the board on 6 January 2026

Prescott-Thomas Limited
Notes to the Accounts
for the year ended 30 June 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102 as applied to small entities by section 1A of the standard. The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor Vehicle		reducing balance @ 25%
	Plant and machinery		reducing balance @ 25%
	Fixtures, fittings, tools and equipment		reducing balance @ 25%

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2026	2025
				Number	Number

	Average number of persons employed by the company			52	52


3	Tangible fixed assets
		Fixtures & fittings	Plant and machinery etc	Motor vehicles	Total
		£	£	£	£
	Cost
	At 1 July 2025	195,003	208,865	278,382	682,250
	Additions	-	-	3,995	3,995
	At 30 June 2026	£195,003	£208,865	£282,377	£686,245

	Depreciation
	At 1 July 2025	193,963	208,571	182,306	584,840
	Charge for the year	260	74	24,019	24,353
	At 30 June 2026	£194,223	£208,645	£206,325	£609,193

	Net book value
	At 30 June 2026	£780	£220	£76,052	£77,052
	At 30 June 2025	£1,040	£294	£96,076	£97,410




4	Debtors			2026	2025
				£	£

	Trade debtors			777,474	803,586
	Other debtors			139,087	125,932
				£916,561	£929,518


5	Creditors: amounts falling due within one year			2026	2025
				£	£

	Bank loans and overdrafts			150,372	159,693
	Obligations under finance lease and hire purchase contracts			10,850	14,200
	Trade creditors			744,499	676,898
	Corporation tax			7,391	12,715
	Other taxes and social security costs			14,034	13,321
	Other creditors			116,659	112,941
				£1,043,805	£989,768


6	Creditors: amounts falling due after one year			2026	2025
				£	£

	Obligations under finance lease and hire purchase contracts			£0	£10,850


7	Other information

	Prescott-Thomas Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 1 Horner House
	21 Sherrin Road
	Leyton
	LONDON
	E10 5SQ