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REGISTERED NUMBER: 03945293 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

PAUL & SONS CONVENIENCE STORES LIMITED

PAUL & SONS CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 03945293)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAUL & SONS CONVENIENCE STORES LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Surjit Singh Paul
Narinder Kaur Paul



REGISTERED OFFICE: 150-154 Masefield Drive
Leyfields
Tamworth
West Midlands
B79 8JA



REGISTERED NUMBER: 03945293 (England and Wales)



ACCOUNTANTS: Brindleys Limited
2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD



BANKERS: Barclays Bank plc
38 Hagley Road
Edgbaston
Birmingham
B16 8NY

PAUL & SONS CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 03945293)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 174,246 186,145

CURRENT ASSETS
Stocks 87,435 90,125
Debtors 5 736,367 670,525
Cash at bank and in hand 19,381 67,454
843,183 828,104
CREDITORS
Amounts falling due within one year 6 544,371 505,777
NET CURRENT ASSETS 298,812 322,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

473,058

508,472

CREDITORS
Amounts falling due after more than one
year

7

(20,740

)

(32,372

)

PROVISIONS FOR LIABILITIES (8,364 ) (8,364 )
NET ASSETS 443,954 467,736

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 443,948 467,730
SHAREHOLDERS' FUNDS 443,954 467,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PAUL & SONS CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 03945293)

Balance Sheet - continued
31 March 2023


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 Board of Directors and authorised for issue on 11 December 2023 and were signed on its behalf by:





Surjit Singh Paul - Director


PAUL & SONS CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 03945293)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Paul & Sons Convenience Stores 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.

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.
Short leasehold - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 13 ) .

PAUL & SONS CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 03945293)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2022
and 31 March 2023 329,227 118,875 66,300
DEPRECIATION
At 1 April 2022 190,912 97,876 52,653
Charge for year 3,888 2,794 1,921
At 31 March 2023 194,800 100,670 54,574
NET BOOK VALUE
At 31 March 2023 134,427 18,205 11,726
At 31 March 2022 138,315 20,999 13,647

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 23,018 825 538,245
DEPRECIATION
At 1 April 2022 9,966 693 352,100
Charge for year 3,263 33 11,899
At 31 March 2023 13,229 726 363,999
NET BOOK VALUE
At 31 March 2023 9,789 99 174,246
At 31 March 2022 13,052 132 186,145

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,000 2,000
Tamworth Investments Ltd 19,947 -
Paul & Sons Investments Ltd 700,840 652,261
Paul Supermarket 13,014 13,014
Prepayments 566 3,250
736,367 670,525

PAUL & SONS CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 03945293)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,429 20,796
Trade creditors 85,596 27,927
Corporation tax 22,684 43,347
Social security and other taxes 14,522 12,941
DWP Control A/c - 28
Pension Control Account 187 186
VAT 41,497 42,375
Wages Control Account - 721
Paul & Sons (UK) Ltd 329,442 329,442
Amington Convenience Ltd 28,014 28,014
544,371 505,777

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bounce Back Loan 20,740 32,372

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Surjit Singh Paul
Balance outstanding at start of year - 11,896
Amounts advanced 98,247 55,404
Amounts repaid (98,247 ) (67,300 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Dividends paid during the year £78,000 (£51,000 in 2022)

9. RELATED PARTY DISCLOSURES

There is a Current Assets due from Related Parties --
1) Paul & Son Investments Ltd - £700,840 (£652,261 in 2022)
2) Tamworth Investments Ltd - £19,947(Nil in 2022)

There is a Current Liabilities due to Related Parties --
1) Paul & Sons (UK) Ltd - £329,442 (£329,442 in 2022)
2) Amington Convenience Ltd - £28,014 (£28,014 in 2022)

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is not known.

Whilst there are significant family interests in the shares of the company, the directors consider that there is no one ultimate controlling party of the company.