Pegram & Sons Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02532478 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

PEGRAM & SONS LTD

Page

Company Information

1

Chartered Certified Accountant's Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

R M Pegram

SECRETARY:

Mrs T M Pegram

REGISTERED OFFICE:

49 High Street

Burnham on Crouch

Essex

CM0 8AG

REGISTERED NUMBER:

02532478 (England and Wales)

ACCOUNTANT:

Courts & Co.

Lescott Courts Limited

Chartered Certified Accountants

49 High Street

Burnham on Crouch

Essex

CM0 8AG

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial

statements of Pegram & Sons Ltd for the year ended 30 September 2019 which comprise the Income Statement, Balance

Sheet and the related notes from the company's accounting records and from information and explanations you have

given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Pegram & Sons Ltd in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Pegram & Sons Ltd and state those matters that I have agreed to state to the director of Pegram & Sons Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report.

It is your duty to ensure that Pegram & Sons Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pegram & Sons Ltd. You consider that Pegram & Sons Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Pegram & Sons Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Courts & Co.

Lescott Courts Limited

Chartered Certified Accountants

49 High Street

Burnham on Crouch

Essex

CM0 8AG

30 June 2020

FIXED ASSETS

Tangible assets

4

451,399

508,990

CURRENT ASSETS

Debtors

5

414,484

546,478

Cash at bank and in hand

70,336

169,323

484,820

715,801

CREDITORS

Amounts falling due within one year

6

341,224

589,332

NET CURRENT ASSETS

143,596

126,469

TOTAL ASSETS LESS CURRENT LIABILITIES

594,995

635,459

CREDITORS

Amounts falling due after more than one year

7

(49,355

)

(79,355

)

PROVISIONS FOR LIABILITIES

8

(26,947

)

(25,005

)

NET ASSETS

518,693

531,099

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

518,543

530,949

SHAREHOLDERS' FUNDS

518,693

531,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 June 2020 and were signed by:

R M Pegram - Director

1.	STATUTORY INFORMATION

Pegram & Sons Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2018

1,083,155

Additions

92,876

At 30 September 2019

1,176,031

DEPRECIATION

At 1 October 2018

574,165

Charge for year

150,467

At 30 September 2019

724,632

NET BOOK VALUE

At 30 September 2019

451,399

At 30 September 2018

508,990

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2018

and 30 September 2019

220,000

DEPRECIATION

At 1 October 2018

55,000

Charge for year

41,250

At 30 September 2019

96,250

NET BOOK VALUE

At 30 September 2019

123,750

At 30 September 2018

165,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

407,008

542,987

Amounts owed by group undertakings

936

936

Other debtors

6,540

2,555

414,484

546,478

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

30,000

34,868

Trade creditors

148,397

370,583

Amounts owed to group undertakings

96,714

95,854

Taxation and social security

27,299

41,265

Other creditors

38,814

46,762

341,224

589,332

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

49,355

79,355

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

26,947

25,005

Deferred

tax

£

Balance at 1 October 2018

25,005

Movement

1,942

Balance at 30 September 2019

26,947

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed Pegram Holdings Ltd £96,713 (2018 : £95,853) the directors own

the holding company see note 12 to the accounts.

The company traded with RM & TM Pegram a plant hire business owned by the directors RM Pegram and TM

Pegram. During the year the company traded with the plant hire business as follows:

Hire of plant £165,934 (2018 : £361,000), balance on the purchase ledger at the 30th September 2019 (£72,261)

(2018 : £153,738). Balance on the Sales ledger at the 30th September 2019 £276,378 (2018 : £276,378).

At the year end the company owed the directors RM and Mrs TM Pegram £22,542 (2018 : £32,569).

The company received a loan of £32,000 in 2013 from a group company Pegram Developments Ltd, the balance

in at the year end (£935) (2018 : £935).

10.	ULTIMATE CONTROLLING PARTY

The company is 100% owned by Pegram Holdings Ltd. Mr R M Pegram a director of both companies is the

ultimate controlling party by virtue of his 60% shareholding in Pegram Holdings Ltd.