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REGISTERED NUMBER: 07261008 (England and Wales)















J Payne Services Limited

Unaudited Financial Statements

For The Year Ended

30th September 2022






J Payne Services Limited (Registered number: 07261008)

Contents of the Financial Statements
For The Year Ended 30th September 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7

Chartered Accountants' Report 8

J Payne Services Limited

Company Information
For The Year Ended 30th September 2022







DIRECTOR: J P Payne





REGISTERED OFFICE: Mill Lodge Farm
Lodge Lane
Bressingham
Diss
Norfolk
IP22 2BE





REGISTERED NUMBER: 07261008 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY

J Payne Services Limited (Registered number: 07261008)

Balance Sheet
30th September 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 867,479 844,197

CURRENT ASSETS
Stocks 4,000 3,050
Debtors 5 276,852 235,602
280,852 238,652
CREDITORS
Amounts falling due within one year 6 558,139 524,999
NET CURRENT LIABILITIES (277,287 ) (286,347 )
TOTAL ASSETS LESS CURRENT LIABILITIES 590,192 557,850

CREDITORS
Amounts falling due after more than one year 7 (197,765 ) (253,834 )

PROVISIONS FOR LIABILITIES (92,400 ) (92,174 )
NET ASSETS 300,027 211,842

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 300,025 211,840
SHAREHOLDERS' FUNDS 300,027 211,842

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2022 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.

J Payne Services Limited (Registered number: 07261008)

Balance Sheet - continued
30th September 2022


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 29th September 2023 and were signed by:





J P Payne - Director


J Payne Services Limited (Registered number: 07261008)

Notes to the Financial Statements
For The Year Ended 30th September 2022


1. STATUTORY INFORMATION

J Payne Services Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Freehold property - Not depreciated
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

J Payne Services Limited (Registered number: 07261008)

Notes to the Financial Statements - continued
For The Year Ended 30th September 2022


2. ACCOUNTING POLICIES - continued

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 18 (2021 - 18 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st October 2021 315,892 1,142,514 292,215 12,287 1,762,908
Additions 31,400 88,644 64,425 - 184,469
Disposals - (28,335 ) - - (28,335 )
At 30th September 2022 347,292 1,202,823 356,640 12,287 1,919,042
DEPRECIATION
At 1st October 2021 - 736,690 176,506 5,515 918,711
Charge for year - 110,145 37,644 1,693 149,482
Eliminated on disposal - (16,630 ) - - (16,630 )
At 30th September 2022 - 830,205 214,150 7,208 1,051,563
NET BOOK VALUE
At 30th September 2022 347,292 372,618 142,490 5,079 867,479
At 30th September 2021 315,892 405,824 115,709 6,772 844,197

J Payne Services Limited (Registered number: 07261008)

Notes to the Financial Statements - continued
For The Year Ended 30th September 2022


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st October 2021 505,047 74,759 579,806
Additions 49,850 48,935 98,785
Disposals (28,335 ) - (28,335 )
At 30th September 2022 526,562 123,694 650,256
DEPRECIATION
At 1st October 2021 235,415 24,388 259,803
Charge for year 72,054 18,821 90,875
Eliminated on disposal (16,630 ) - (16,630 )
At 30th September 2022 290,839 43,209 334,048
NET BOOK VALUE
At 30th September 2022 235,723 80,485 316,208
At 30th September 2021 269,632 50,371 320,003

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 276,439 235,189
Other debtors 413 413
276,852 235,602

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 55,487 52,583
Hire purchase contracts 109,427 115,189
Trade creditors 140,946 104,089
Taxation and social security 90,645 55,768
Other creditors 161,634 197,370
558,139 524,999

J Payne Services Limited (Registered number: 07261008)

Notes to the Financial Statements - continued
For The Year Ended 30th September 2022


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 103,863 130,021
Hire purchase contracts 93,902 123,813
197,765 253,834

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 8,750

8. SECURED DEBTS

HSBC Bank Plc Holds a Fixed and Floating Charge over the assets of the company and a Charge over the property held within Fixed Assets.

9. RELATED PARTY DISCLOSURES

At the end of the year the company owed the director £158,483 (2021 - £188,574) by way of an interest free loan with no set repayment terms.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
J Payne Services Limited


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, we have prepared for your approval the financial statements of J Payne Services Limited for the year ended 30th 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 us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of J Payne Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J Payne Services Limited and state those matters that we have agreed to state to the director of J Payne Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J Payne Services Limited and its director for our work or for this report.

It is your duty to ensure that J Payne Services Limited 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 J Payne Services Limited. You consider that J Payne Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J Payne Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
Chartered Accountants
Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY


Date: .............................................