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Unaudited Financial Statements for the Year Ended 5 April 2022 |
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A. Pearson & Sons Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 5 April 2022 |
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for |
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A. Pearson & Sons Limited |
A. Pearson & Sons Limited (Registered number: 00631518) |
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Contents of the Financial Statements |
for the Year Ended 5 April 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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A. Pearson & Sons Limited |
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Company Information |
for the Year Ended 5 April 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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84 Albion Court |
Attleborough Road |
Nuneaton |
CV11 4JJ |
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BANKERS: |
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422 Foleshill Road |
Coventry |
Warwickshire |
CV6 5AL |
A. Pearson & Sons Limited (Registered number: 00631518) |
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Balance Sheet |
5 April 2022 |
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5.4.22 | 5.4.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one
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6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
A. Pearson & Sons Limited (Registered number: 00631518) |
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Balance Sheet - continued |
5 April 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for
issue on
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A. Pearson & Sons Limited (Registered number: 00631518) |
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Notes to the Financial Statements |
for the Year Ended 5 April 2022 |
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1. | STATUTORY INFORMATION |
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A. Pearson & Sons Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £ |
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The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Revenue contracts for provision of services is recognised by reference to completion of the contracted supply of services or materials |
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Tangible fixed assets |
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Freehold property | - |
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Plant and equipment | - |
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Motor vehicles | - |
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No depreciation is charged in the year of revaluation. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
A. Pearson & Sons Limited (Registered number: 00631518) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments. |
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Financial instrumements are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously |
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Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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A. Pearson & Sons Limited (Registered number: 00631518) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2022 |
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4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 6 April 2021 |
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Additions |
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At 5 April 2022 |
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DEPRECIATION |
At 6 April 2021 |
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Charge for year |
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At 5 April 2022 |
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NET BOOK VALUE |
At 5 April 2022 |
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At 5 April 2021 |
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Cost or valuation at 5 April 2022 is represented by: |
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Freehold | Plant and | Motor |
property | equipment | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 2003 | 190,000 | - | - | 190,000 |
Cost | - | 32,812 | 455,274 | 488,086 |
190,000 | 32,812 | 455,274 | 678,086 |
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If freehold property had not been revalued it would have been included at the following historical cost: |
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5.4.22 | 5.4.21 |
£ | £ |
Cost | 42,089 | 42,089 |
Aggregate depreciation | 24,346 | 24,346 |
A. Pearson & Sons Limited (Registered number: 00631518) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2022 |
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5. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR |
5.4.22 | 5.4.21 |
£ | £ |
Trade debtors |
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Other debtors |
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6. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR |
5.4.22 | 5.4.21 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At the balance sheet date the directors Mr L J Pearson and Mr A Pearson were each owed £1402 in respect of company transactions paid by them. |