Company registration number:
09502980
Paul Hall Plastering Ltd
Unaudited filleted financial statements
31 March 2023
PAUL HALL PLASTERING LTD
STATEMENT OF FINANCIAL POSITION
31 MARCH 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
8,999 |
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11,998 |
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_______ |
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_______ |
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8,999 |
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11,998 |
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Current assets |
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Stocks |
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250 |
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250 |
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Debtors |
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6 |
16,833 |
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20,685 |
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Cash at bank and in hand |
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10,849 |
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9,879 |
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_______ |
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_______ |
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27,932 |
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30,814 |
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Creditors: amounts falling due |
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within one year |
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8 |
(
13,267) |
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(
12,409) |
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_______ |
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_______ |
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Net current assets |
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14,665 |
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18,405 |
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_______ |
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_______ |
Total assets less current liabilities |
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23,664 |
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30,403 |
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Creditors: amounts falling due |
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after more than one year |
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9 |
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(
7,754) |
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(
10,754) |
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Provisions for liabilities |
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(
1,709) |
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(
2,279) |
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_______ |
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_______ |
Net assets |
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14,201 |
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17,370 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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1 |
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1 |
Profit and loss account |
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10 |
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14,200 |
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17,369 |
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_______ |
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_______ |
Shareholders funds |
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14,201 |
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17,370 |
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_______ |
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_______ |
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For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
16 October 2023
, and are signed on behalf of the board by:
Mr Paul Hall
Director
Company registration number:
09502980
PAUL HALL PLASTERING LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is
Paul Hall Plastering Ltd
, Plym House, 3 Longbridge Road, Plymouth, PL6 8LT.
Principal activity
The principal activity of the company is that of a plastering contractor.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Motor vehicles |
- |
25 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
2
).
5.
Tangible assets
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Motor vehicles |
Total |
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£ |
£ |
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Cost |
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At 1 April 2022 and 31 March 2023 |
21,330 |
21,330 |
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_______ |
_______ |
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Depreciation |
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At 1 April 2022 |
9,332 |
9,332 |
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Charge for the year |
2,999 |
2,999 |
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_______ |
_______ |
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At 31 March 2023 |
12,331 |
12,331 |
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_______ |
_______ |
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Carrying amount |
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At 31 March 2023 |
8,999 |
8,999 |
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_______ |
_______ |
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At 31 March 2022 |
11,998 |
11,998 |
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_______ |
_______ |
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6.
Debtors
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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3,569 |
3,140 |
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Other debtors |
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13,264 |
17,545 |
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_______ |
_______ |
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16,833 |
20,685 |
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_______ |
_______ |
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7.
Cash and cash equivalents
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2023 |
2022 |
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£ |
£ |
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Cash at bank and in hand |
|
10,849 |
9,879 |
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_______ |
_______ |
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8.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
|
3,000 |
3,000 |
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Trade creditors |
|
1,200 |
1,104 |
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Accruals and deferred income |
|
2,700 |
2,575 |
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Social security and other taxes |
|
6,367 |
5,730 |
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_______ |
_______ |
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13,267 |
12,409 |
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_______ |
_______ |
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9.
Creditors: amounts falling due after more than one year
|
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2023 |
2022 |
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£ |
£ |
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Other creditors |
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7,754 |
10,754 |
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_______ |
_______ |
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10.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
11.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company: |
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2023 |
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Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
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£ |
£ |
£ |
£ |
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The Director |
17,545 |
25,025 |
(
29,306) |
13,264 |
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_______ |
_______ |
_______ |
_______ |
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2022 |
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Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
|
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£ |
£ |
£ |
£ |
|
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|
The Director |
16,587 |
17,545 |
(
16,587) |
17,545 |
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_______ |
_______ |
_______ |
_______ |
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Overdrawn loans are subject to interest at the standard market rate and are repayable on demand.