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REGISTERED NUMBER: 08157495 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Paul Hussey Limited

Paul Hussey Limited (Registered number: 08157495)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paul Hussey Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: P Hussey





REGISTERED OFFICE: 2 Northside
Wells Road
Chilcompton
Radstock
BA3 4ET





REGISTERED NUMBER: 08157495 (England and Wales)





ACCOUNTANTS: Accounting Solutions
2 Northside
Wells Road
Chilcompton
Radstock
BA3 4ET

Paul Hussey Limited (Registered number: 08157495)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 47,813 63,946
47,813 63,946

CURRENT ASSETS
Stocks 19,000 17,000
Debtors 6 124,924 142,111
Cash at bank 130,810 76,298
274,734 235,409
CREDITORS
Amounts falling due within one year 7 72,692 82,452
NET CURRENT ASSETS 202,042 152,957
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,855

216,903

CREDITORS
Amounts falling due after more than one
year

8

48,273

56,681
NET ASSETS 201,582 160,222

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 201,580 160,220
SHAREHOLDERS' FUNDS 201,582 160,222

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

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

The director acknowledges his 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 Hussey Limited (Registered number: 08157495)

Balance Sheet - continued
31 July 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 director and authorised for issue on 10 February 2024 and were signed by:





P Hussey - Director


Paul Hussey Limited (Registered number: 08157495)

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

1. STATUTORY INFORMATION

Paul Hussey 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Paul Hussey Limited (Registered number: 08157495)

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

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 20,000
AMORTISATION
At 1 August 2022
and 31 July 2023 20,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

Paul Hussey Limited (Registered number: 08157495)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022
and 31 July 2023 1,208 2,904 91,691 7,802 103,605
DEPRECIATION
At 1 August 2022 796 2,539 28,867 7,457 39,659
Charge for year 103 120 15,706 204 16,133
At 31 July 2023 899 2,659 44,573 7,661 55,792
NET BOOK VALUE
At 31 July 2023 309 245 47,118 141 47,813
At 31 July 2022 412 365 62,824 345 63,946

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 91,691
Transfer to ownership (31,700 )
At 31 July 2023 59,991
DEPRECIATION
At 1 August 2022 28,867
Charge for year 11,248
Transfer to ownership (13,869 )
At 31 July 2023 26,246
NET BOOK VALUE
At 31 July 2023 33,745
At 31 July 2022 62,824

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,220 72,231
Other debtors 118,704 69,880
124,924 142,111

Paul Hussey Limited (Registered number: 08157495)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,000 6,000
Hire purchase contracts 2,810 3,810
Trade creditors 30,404 18,156
Taxation and social security 32,015 53,438
Other creditors 1,463 1,048
72,692 82,452

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 11,401 17,000
Hire purchase contracts 36,872 39,681
48,273 56,681

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company was under the control of the director throughout the period as stated in the report of the director.

Interest is charged on the overdrawn directors' loan account balances at the official rate of 2.00%.