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REGISTERED NUMBER: 05485844 (England and Wales)
















Financial Statements

for the Year Ended 31 January 2024

for

Paul Buckingham Limited
Trading as
Global Furniture

Paul Buckingham Limited (Registered number: 05485844)
Trading as Global Furniture

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Paul Buckingham Limited
Trading as Global Furniture

Company Information
for the Year Ended 31 January 2024







DIRECTOR: P S Buckingham





SECRETARY: S Buckingham





REGISTERED OFFICE: 701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT





REGISTERED NUMBER: 05485844 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Paul Buckingham Limited
Trading as Global Furniture

Report of the Accountants to the Director of
Paul Buckingham Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GCSD Accountants Limited


12 March 2024

Paul Buckingham Limited (Registered number: 05485844)
Trading as Global Furniture

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,876 2,345
Tangible assets 5 13,307 17,537
15,183 19,882

CURRENT ASSETS
Stocks 254,500 340,000
Debtors 6 15,721 11,747
270,221 351,747
CREDITORS
Amounts falling due within one year 7 248,463 316,901
NET CURRENT ASSETS 21,758 34,846
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,941

54,728

CREDITORS
Amounts falling due after more than
one year

8

(13,950

)

(24,111

)

PROVISIONS FOR LIABILITIES (2,862 ) (2,901 )
NET ASSETS 20,129 27,716

Paul Buckingham Limited (Registered number: 05485844)
Trading as Global Furniture

Balance Sheet - continued
31 January 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 20,029 27,616
SHAREHOLDERS' FUNDS 20,129 27,716

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2024 and were signed by:





P S Buckingham - Director


Paul Buckingham Limited (Registered number: 05485844)
Trading as Global Furniture

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Paul Buckingham 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 2008, 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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.


Paul Buckingham Limited (Registered number: 05485844)
Trading as Global Furniture

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

Paul Buckingham Limited (Registered number: 05485844)
Trading as Global Furniture

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 502,000 4,690 506,690
AMORTISATION
At 1 February 2023 502,000 2,345 504,345
Charge for year - 469 469
At 31 January 2024 502,000 2,814 504,814
NET BOOK VALUE
At 31 January 2024 - 1,876 1,876
At 31 January 2023 - 2,345 2,345

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 76,660
DEPRECIATION
At 1 February 2023 59,123
Charge for year 4,230
At 31 January 2024 63,353
NET BOOK VALUE
At 31 January 2024 13,307
At 31 January 2023 17,537

Paul Buckingham Limited (Registered number: 05485844)
Trading as Global Furniture

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,391 9,532
Other debtors 1,330 2,215
15,721 11,747

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,323 18,831
Trade creditors 54,244 57,625
Taxation and social security 33,320 54,395
Other creditors 120,576 186,050
248,463 316,901

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,950 24,111

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100