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REGISTERED NUMBER: 01754669 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 March 2023

for

Paxman Holdings Limited

Paxman Holdings Limited (Registered number: 01754669)

Contents of the Financial Statements
For The Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Paxman Holdings Limited

Company Information
For The Year Ended 31 March 2023







DIRECTORS: Mrs S D Paxman
Mr N Paxman
Mr J Paxman





REGISTERED OFFICE: Copax Works
Marsh Lane
Ware
Hertfordshire
SG12 9QQ





REGISTERED NUMBER: 01754669 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Paxman Holdings Limited (Registered number: 01754669)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 271,672 279,105
Investments 5 1,500 1,500
Investment property 6 340,000 340,000
613,172 620,605

CURRENT ASSETS
Debtors 7 6,030 6,030
Cash at bank 45,469 17,149
51,499 23,179
CREDITORS
Amounts falling due within one year 8 76,175 75,965
NET CURRENT LIABILITIES (24,676 ) (52,786 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

588,496

567,819

PROVISIONS FOR LIABILITIES 9 3,976 4,034
NET ASSETS 584,520 563,785

CAPITAL AND RESERVES
Called up share capital 10 2,500 2,500
Revaluation reserve 11 161,586 161,586
Fair value reserve 11 207,525 207,525
Retained earnings 212,909 192,174
SHAREHOLDERS' FUNDS 584,520 563,785

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.

Paxman Holdings Limited (Registered number: 01754669)

Statement of Financial Position - 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 27 November 2023 and were signed on its behalf by:





Mr J Paxman - Director


Paxman Holdings Limited (Registered number: 01754669)

Notes to the Financial Statements
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

Paxman Holdings 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are 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 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.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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.
Freehold property - Straight line over 40 years
Plant and machinery - 25% on cost
Computer equipment - Straight line over 4 years

Recognition and impairment of tangible fixed assets

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

The entity reviews the carrying value's of its tangible fixed assets at each reporting date, to determine wether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the estimated recoverable value of the asset is used to determine the extent of the impairment loss (if any).

Freehold property is measured at its revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Paxman Holdings Limited (Registered number: 01754669)

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


2. ACCOUNTING POLICIES - continued

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

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Paxman Holdings Limited (Registered number: 01754669)

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


4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 285,000 15,234 600 300,834
DEPRECIATION
At 1 April 2022 7,125 14,004 600 21,729
Charge for year 7,125 308 - 7,433
At 31 March 2023 14,250 14,312 600 29,162
NET BOOK VALUE
At 31 March 2023 270,750 922 - 271,672
At 31 March 2022 277,875 1,230 - 279,105

Cost or valuation at 31 March 2023 is represented by:

Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
Valuation in 1997 99,618 - - 99,618
Valuation in 2001 57,990 - - 57,990
Valuation in 2017 13,452 - - 13,452
Cost 113,940 15,234 600 129,774
285,000 15,234 600 300,834

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 113,940 113,940

It is the directors opinion that the above amount represent fair value at the year end.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 1,500
NET BOOK VALUE
At 31 March 2023 1,500
At 31 March 2022 1,500

Paxman Holdings Limited (Registered number: 01754669)

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


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 340,000
NET BOOK VALUE
At 31 March 2023 340,000
At 31 March 2022 340,000

It is the directors opinion that the above amount represent fair value at the year end.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 1997 99,618
Valuation in 2001 57,990
Valuation in 2017 48,519
Cost 133,873
340,000

If freehold investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 133,873 133,873

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 6,030 6,030

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 8,562 8,201
Other creditors 67,613 67,764
76,175 75,965

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,976 4,034

Deferred
tax
£   
Balance at 1 April 2022 4,034
Utilised during year (58 )
Balance at 31 March 2023 3,976

Paxman Holdings Limited (Registered number: 01754669)

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


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,500 Ordinary £1 2,500 2,500

11. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 April 2022
and 31 March 2023 161,586 207,525 369,111