Pegram & Sons Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02532478 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

PEGRAM & SONS LTD

Page

Company Information

1

Chartered Certified Accountant's Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

R M Pegram

R R 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 directors 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 Directors 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 2022 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 Board of Directors of Pegram & Sons Ltd, as a body, 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 Board of Directors of Pegram & Sons Ltd, as a body, 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 Board of Directors, as a body, 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

29 June 2023

FIXED ASSETS

Tangible assets

4

417,099

354,564

CURRENT ASSETS

Debtors

5

353,646

351,097

Cash at bank

58,709

84,712

412,355

435,809

CREDITORS

Amounts falling due within one year

6

258,677

169,429

NET CURRENT ASSETS

153,678

266,380

TOTAL ASSETS LESS CURRENT LIABILITIES

570,777

620,944

CREDITORS

Amounts falling due after more than one year

7

(38,136

)

(48,305

)

PROVISIONS FOR LIABILITIES

8

(23,965

)

(27,777

)

NET ASSETS

508,676

544,862

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

508,526

544,712

SHAREHOLDERS' FUNDS

508,676

544,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 29 June 2023 and were signed on its behalf by:

R R 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 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2021

1,181,217

Additions

163,500

At 30 September 2022

1,344,717

DEPRECIATION

At 1 October 2021

826,653

Charge for year

100,965

At 30 September 2022

927,618

NET BOOK VALUE

At 30 September 2022

417,099

At 30 September 2021

354,564

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

Plant and

machinery

etc

£

COST

At 1 October 2021

220,000

Transfer to ownership

(220,000

)

At 30 September 2022

-

DEPRECIATION

At 1 October 2021

150,391

Transfer to ownership

(150,391

)

At 30 September 2022

-

NET BOOK VALUE

At 30 September 2022

-

At 30 September 2021

69,609

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

323,289

339,651

Amounts owed by group undertakings

-

2,222

Other debtors

30,357

9,224

353,646

351,097

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts

-

25,331

Trade creditors

227,287

130,234

Amounts owed to group undertakings

16,778

-

Taxation and social security

6,119

1,951

Other creditors

8,493

11,913

258,677

169,429

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

38,136

48,305

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

38,136

48,305

8.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

23,965

27,777

Deferred

tax

£

Balance at 1 October 2021

27,777

Movement

(3,812

)

Balance at 30 September 2022

23,965

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed Pegram Holdings Ltd £16,778 (2021 : -£2,222) 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:

Purchase of plant - £120,000 (2021 : £108,000), balance on the purchase ledger at the 30th September 2022 (-£1,600) (2021 : -£120,000). Balance on the Sales ledger at the 30th September 2022 £276,378 (2021 : £276,378).

At the year end the company owed the directors RM and Mrs TM Pegram -£1,396 (2021 : £3,430).

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.