Company Registration No. SC258906 (Scotland)
ROBERT PAUL ASSOCIATES LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
THE A9 PARTNERSHIP LIMITED
Chartered Accountants
57/59 High Street
Dunblane
FK15 0EE
ROBERT PAUL ASSOCIATES LTD.
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ROBERT PAUL ASSOCIATES LTD.
BALANCE SHEET
AS AT 30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
-
0
2,627
Current assets
Stocks
-
6,330
Debtors
6
7,192
12,403
Cash at bank and in hand
15,119
9,420
22,311
28,153
Creditors: amounts falling due within one year
7
(12,273)
(9,997)
Net current assets
10,038
18,156
Total assets less current liabilities
10,038
20,783
Provisions for liabilities
-
0
(257)
Net assets
10,038
20,526
Capital and reserves
Called up share capital
8
3
3
Profit and loss reserves
10,035
20,523
Total equity
10,038
20,526

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 5 October 2023
Mr R I Paul
Director
Company Registration No. SC258906
ROBERT PAUL ASSOCIATES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -
1
Accounting policies
Company information

Robert Paul Associates Ltd. is a private company limited by shares incorporated in Scotland. The registered office is 57/59 High Street, Dunblane, Perthshire, Scotland, FK15 0EE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from services is recognised when the services have been provided and the right to consideration has been earned.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tenant Improvements
20% straight line
Plant and machinery
25% reducing balance
Office equipment
20% reducing balance
Computer equipment
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Work in progress is valued on the basis of direct costs plus attributable overheads based on the normal level of activity.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ROBERT PAUL ASSOCIATES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 3 -
1.6
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 of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ROBERT PAUL ASSOCIATES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
ROBERT PAUL ASSOCIATES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022
40,750
Disposals
(40,750)
At 30 April 2023
-
0
Amortisation and impairment
At 1 May 2022
40,750
Disposals
(40,750)
At 30 April 2023
-
0
Carrying amount
At 30 April 2023
-
0
At 30 April 2022
-
0
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2022
6,765
6,526
13,291
Additions
-
0
1,535
1,535
Disposals
(6,765)
(8,061)
(14,826)
At 30 April 2023
-
0
-
0
-
0
Depreciation and impairment
At 1 May 2022
6,765
3,899
10,664
Depreciation charged in the year
-
0
818
818
Eliminated in respect of disposals
(6,765)
(4,717)
(11,482)
At 30 April 2023
-
0
-
0
-
0
Carrying amount
At 30 April 2023
-
0
-
0
-
0
At 30 April 2022
-
0
2,627
2,627
ROBERT PAUL ASSOCIATES LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
6,900
11,680
Other debtors
292
723
7,192
12,403
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
158
-
0
Corporation tax
5,290
2,294
Other taxation and social security
3,029
5,218
Other creditors
3,796
2,485
12,273
9,997
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
3
3
3
3
2023-04-302022-05-01false05 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr Robert I PaulMrs L S PaulSC2589062022-05-012023-04-30SC2589062023-04-30SC2589062022-04-30SC258906core:LandBuildings2023-04-30SC258906core:OtherPropertyPlantEquipment2023-04-30SC258906core:LandBuildings2022-04-30SC258906core:OtherPropertyPlantEquipment2022-04-30SC258906core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-30SC258906core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-30SC258906core:CurrentFinancialInstruments2023-04-30SC258906core:CurrentFinancialInstruments2022-04-30SC258906core:ShareCapital2023-04-30SC258906core:ShareCapital2022-04-30SC258906core:RetainedEarningsAccumulatedLosses2023-04-30SC258906core:RetainedEarningsAccumulatedLosses2022-04-30SC258906bus:Director12022-05-012023-04-30SC258906core:LandBuildingscore:OwnedOrFreeholdAssets2022-05-012023-04-30SC258906core:PlantMachinery2022-05-012023-04-30SC258906core:FurnitureFittings2022-05-012023-04-30SC258906core:ComputerEquipment2022-05-012023-04-30SC2589062021-05-012022-04-30SC258906core:NetGoodwill2022-04-30SC258906core:NetGoodwill2023-04-30SC258906core:NetGoodwill2022-05-012023-04-30SC258906core:NetGoodwill2022-04-30SC258906core:LandBuildings2022-04-30SC258906core:OtherPropertyPlantEquipment2022-04-30SC2589062022-04-30SC258906core:LandBuildings2022-05-012023-04-30SC258906core:OtherPropertyPlantEquipment2022-05-012023-04-30SC258906core:WithinOneYear2023-04-30SC258906core:WithinOneYear2022-04-30SC258906bus:PrivateLimitedCompanyLtd2022-05-012023-04-30SC258906bus:SmallCompaniesRegimeForAccounts2022-05-012023-04-30SC258906bus:FRS1022022-05-012023-04-30SC258906bus:AuditExemptWithAccountantsReport2022-05-012023-04-30SC258906bus:CompanySecretary12022-05-012023-04-30SC258906bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP