Registered Number:06295741 |
For the year ended 30 June 2023
England and Wales
Unaudited Financial Statements
For the year ended 30 June 2023
Paul Kenton Limited
Contents Page
1 to 2
Statement of Financial Position
3 to 7
Notes to the Financial Statements
Paul Kenton Limited
Statement of Financial Position
2022
2023
17,975
19,429
2
Property, plant and equipment |
1,121,189
436,507
3
4
363,307
351,891
1,502,471
807,827
82,701
62,170
5
Trade and other receivables |
307,490
66,834
6
250,897
Cash and cash equivalents |
135,198
264,202
641,088
Trade and other payables: amounts falling due within |
one year |
(200,053)
(184,232)
7
441,035
79,970
Net current assets
Total assets less current liabilities |
1,582,441
1,248,862
Trade and other payables: amounts falling due after |
more than one year |
(194,492)
(264,211)
8
(4,391)
(5,366)
Provisions for liabilities |
1,313,839
Net assets
1,049,004
2
2
1,313,837
1,049,002
1,313,839
1,049,004
Shareholders' funds
For the year ended 30 June 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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For the year ended 30 June 2023
Paul Kenton Limited
Statement of Financial Position Continued
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 21 February 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 30 June 2023
Paul Kenton Limited
Notes to the Financial Statements
Statutory Information
Paul Kenton Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 06295741. |
Lower Whitestone
Courtledge
Lincombe
Lee, Devon
EX34 8LN
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic |
of Ireland' and the Companies Act 2006. The financial statements have been prepared under the |
historical costs convention as modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of 10 years from 1 July 2015 in accordance with FRS 102. |
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Property (studio)
Fixtures fittings & equipment
Vehicles
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For the year ended 30 June 2023
Paul Kenton Limited
Notes to the Financial Statements Continued
Investment property
Investment property is shown at its current market value as provided by the director. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss. |
Government grants
Government grants are reported on an accruals basis. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
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. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis. |
2. Intangible fixed assets |
Goodwill
36,000
53,148
17,148
7,810
-
7,810
60,958
36,000
24,958
33,719
26,928
6,791
9,264
3,024
6,240
Charge for year
42,983
29,952
13,031
17,975
6,048
11,927
9,072
10,357
19,429
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For the year ended 30 June 2023
Paul Kenton Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment |
Vehicles
Fixtures |
fittings & |
equipment |
581,255
61,250
117,008
402,997
777,882
69,319
16,342
692,221
(61,250)
(23,368)
-
(84,618)
1,095,218
109,982
69,319
1,274,519
Provision for depreciation and impairment |
144,748
41,870
73,234
29,644
Charge for year
65,119
17,330
27,618
20,171
(56,537)
(41,870)
(14,667)
-
153,330
17,330
86,185
49,815
1,045,403
23,797
51,989
1,121,189
373,353
43,774
19,380
436,507
409,179
20,000
429,179
57,288
8,584
65,872
363,307
351,891
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For the year ended 30 June 2023
Paul Kenton Limited
Notes to the Financial Statements Continued
2022
2023
62,170
82,701
Inventories are valued at the lower of cost and selling price less costs to complete and sell. Cost is defined as the actual cost of materials. Provision is made for obsolete and slow-moving items. In respect of work in progress this is the percentage of any sales contract that has been completed within the year but invoiced after the year-end and is based on the sales invoice total. |
6. Trade and other receivables |
2022
2023
61,032
128,715
5,802
178,775
307,490
66,834
The debtors above include the following amounts falling due after more than one year: |
(55,962)
(8,357)
7. Trade and other payables: amounts falling due within one year |
2022
2023
Bank loans and overdraft (secured) |
(85,171)
26,484
9,582
1,990
Amounts owed to group undertaking and undertaking in which |
the company has a participating interest |
116,143
-
Taxation and social security |
18,924
155,330
124,754
16,249
184,232
200,053
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For the year ended 30 June 2023
Paul Kenton Limited
Notes to the Financial Statements Continued
8. Trade and other payables: amounts falling due after more than one year |
2022
2023
Bank loans and overdraft (secured) |
264,211
194,492
There is a legal charge registered on the freehold property known as Hele Business Park in relation to the mortgage on the property. |
9. Guarantees and other financial commitments |
10. Average number of persons employed |
During the year the average number of employees was 7 (2022 : 6)
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