Paul Eastwood Ltd.


FINANCIAL STATEMENTS


for the year ended 31st March 2023



Paul Eastwood Ltd.

CONTENTS

for the year ended 31st March 2023







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Paul Eastwood Ltd.

Company No. 07217928

STATEMENT OF FINANCIAL POSITION

as at 31st March 2023

20232022
Note£££
FIXED ASSETS
Property, plant and equipment429383058
29383058
CURRENT ASSETS
Stocks57342657102
Debtors650023779
Cash at bank and in hand7316778610
151595139491
CURRENT LIABILITIES
Creditors: amounts falling due
within one year7131378126324
NET CURRENT ASSETS2021713167
TOTAL ASSETS LESS CURRENT LIABILITIES2315516225
 
Creditors: amounts falling due
after more than one year--
 
NET ASSETS2315516225
 
CAPITAL AND RESERVES
Called up share capital22
Retained earnings2315316223
SHAREHOLDERS FUNDS2315516225

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st March 2023 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and 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.

Approved by the Board on 2 October 2023


P Eastwood

Director

Company Number 07217928 (England)

Paul Eastwood Ltd.

NOTES TO THE ACCOUNTS

for the year ended 31st March 2023


1   Statutory information

Paul Eastwood Ltd. is a private company limited by shares and registered under company number 07217928 in England. Its registered office address is 12, Hatherley Road, Sidcup, Kent, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, 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:

Plant, machinery and vehicles25% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Pensions

The Company operates a defined contribution pension scheme. Contributions are charged to the Income Statement as they become payable in accordance with the rules of the scheme.

3   Employee information

The average number of employees during the accounting period was 3 (2022 - 3).

4   Property, plant and equipment
 
PlantFixtures
andand
MachineryFittingsTotal
£££
Cost
At 1st April 2022 6575582012395
Additions-860860
At 31st March 20236575668013255
 
Depreciation
At 1st April 2022 565236859337
Charge for year231749980
At 31st March 20235883443410317
 
Net Book Value
At 31st March 202369222462938
At 31st March 202292321353058

5   Stocks20232022
££
 
Finished goods and goods for resale7342657102
7342657102

The difference between purchase price or production cost of stocks and their replacement cost is not material.


6   Debtors20232022
££
 
Trade Debtors50023779
50023779

7   Creditors: amounts falling due within one year20232022
££
 
Trade Creditors3895934217
Corporation tax112719611
Taxes and social security costs87016659
Other creditors7074474445
Accruals and deferred income17031392
131378126324

8   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20232022
££
 
P Eastwood6294466645
6294466645

2023-03-31false2022-04-012023-03-3107217928uk-bus:Director12022-04-012023-03-3107217928uk-gaap:ShareCapital2023-03-3107217928uk-gaap:ShareCapital2022-03-3107217928uk-gaap:RetainedEarningsAccumulatedLosses2023-03-3107217928uk-gaap:RetainedEarningsAccumulatedLosses2022-03-3107217928uk-gaap:VehiclesPlantMachinery2022-04-012023-03-3107217928uk-gaap:PlantMachinery2022-03-3107217928uk-gaap:FurnitureFittingsToolsEquipment2022-03-3107217928uk-gaap:PlantMachinery2022-04-012023-03-3107217928uk-gaap:FurnitureFittingsToolsEquipment2022-04-012023-03-3107217928uk-gaap:PlantMachinery2023-03-3107217928uk-gaap:FurnitureFittingsToolsEquipment2023-03-3107217928uk-gaap:WithinOneYear2023-03-3107217928uk-gaap:WithinOneYear2022-03-31072179282022-04-012023-03-31072179282021-04-012022-03-31072179282023-03-31072179282022-03-3107217928uk-bus:SmallEntities2022-04-012023-03-3107217928uk-bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3107217928uk-bus:FullAccounts2022-04-012023-03-3107217928uk-bus:PrivateLimitedCompanyLtd2022-04-012023-03-3107217928countries:EnglandWales2022-04-012023-03-3107217928uk-bus:Director112022-03-3107217928uk-bus:Director112023-03-31iso4217:GBPxbrli:purexbrli:shares