2022-04-012023-03-312023-03-31false08735383PAUL GOY HOMES 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PAUL GOY HOMES LIMITED

Registered Number
08735383
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

PAUL GOY HOMES LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

Mr P Goy

Registered Address

3 Wrays Yard School Road
Nocton
Lincoln
LN4 2BJ

Registered Number

08735383 (England and Wales)
PAUL GOY HOMES LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property7155,904155,904
155,904155,904
Current assets
Stocks8571,880568,655
Debtors93,398976
Cash at bank and on hand4,55258,707
579,830628,338
Creditors amounts falling due within one year10(276,286)(314,989)
Net current assets (liabilities)303,544313,349
Total assets less current liabilities459,448469,253
Creditors amounts falling due after one year11(124,680)(134,690)
Net assets334,768334,563
Capital and reserves
Called up share capital100100
Profit and loss account334,668334,463
Shareholders' funds334,768334,563
The financial statements were approved and authorised for issue by the Director on 8 November 2023, and are signed on its behalf by:
Mr P GOY
Director
Registered Company No. 08735383
PAUL GOY HOMES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is property development and rental property.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Investment property policy
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
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.
Government grants and other government assistance policy
Government grants are accounted for using either the performance model or the accruals model, depending on the class of the grant. Income from grants classed under the performance model is recognised when any performance conditions are met, which may be immediately if there are no performance conditions. Income from grants classed under the accruals model is recognised systematically over the period in which related costs are recognised or, if related to an asset, over the useful life of that asset.
6.Employee information

20232022
Average number of employees during the year11
7.Investment property
There has been no valuation of investment property by an independent valuer.

£
Fair value at 01 April 22155,904
At 31 March 23155,904
8.Stocks

2023

2022

££
Work in progress571,880568,655
Total571,880568,655
9.Debtors

2023

2022

££
Other debtors576755
Prepayments and accrued income2,822221
Total3,398976
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,82527
Bank borrowings and overdrafts10,00010,000
Taxation and social security48835
Other creditors263,818303,818
Accrued liabilities and deferred income595309
Total276,286314,989
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts124,680134,690
Total124,680134,690
Bounce back loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 14 June 2026. The carrying amount at year end is £31,666 (2022 - £41,666). Mortgage is denominated in £ with a nominal interest rate of 3.59%, and the final instalment is due on 30 April 2030. The carrying amount at year end is £103,014 (2022 - £103,024). The mortgage is secured by fixed or floating charges over the assets of the company