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REGISTERED NUMBER: 04589023 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

PAUL MEAKIN ESTATE AGENTS LIMITED

PAUL MEAKIN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04589023)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


PAUL MEAKIN ESTATE AGENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: P.R. Meakin
E.J. Meakin





SECRETARY: E.J. Meakin





REGISTERED OFFICE: Norman House
8 Burnell Road
Sutton
Surrey
SM1 4BW





REGISTERED NUMBER: 04589023 (England and Wales)





ACCOUNTANTS: Myrus Smith
Chartered Accountants
Norman House
8 Burnell Road
Sutton
Surrey
SM1 4BW

PAUL MEAKIN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04589023)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,266 47,062

CURRENT ASSETS
Debtors 5 72,100 79,146
Cash at bank and in hand 292,150 282,519
364,250 361,665
CREDITORS
Amounts falling due within one year 6 489,257 447,787
NET CURRENT LIABILITIES (125,007 ) (86,122 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(89,741

)

(39,060

)

CREDITORS
Amounts falling due after more than one
year

7

20,995

42,894
NET LIABILITIES (110,736 ) (81,954 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (110,836 ) (82,054 )
SHAREHOLDERS' FUNDS (110,736 ) (81,954 )

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 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 MEAKIN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04589023)

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 Board of Directors and authorised for issue on 24 April 2024 and were signed on its behalf by:





P.R. Meakin - Director


PAUL MEAKIN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04589023)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Paul Meakin Estate Agents 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.
Improvements to property - 15% on reducing balance
Plant and machinery - 15% on cost
Motor vehicles - 25% on reducing balance

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairments are recognised in expenditure.

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.

PAUL MEAKIN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04589023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

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.

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 13 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 140,339
Disposals (22,160 )
At 31 July 2023 118,179
DEPRECIATION
At 1 August 2022 93,277
Charge for year 10,962
Eliminated on disposal (21,326 )
At 31 July 2023 82,913
NET BOOK VALUE
At 31 July 2023 35,266
At 31 July 2022 47,062

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,433 17,612
Other debtors 57,667 61,534
72,100 79,146

PAUL MEAKIN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04589023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 43,488 46,090
Hire purchase contracts (see note 8) 11,515 11,515
Trade creditors 22,662 17,916
Taxation and social security 113,122 72,969
Other creditors 298,470 299,297
489,257 447,787

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,036 30,420
Hire purchase contracts (see note 8) 959 12,474
20,995 42,894

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 11,515 11,515
Between one and five years 959 12,474
12,474 23,989

Non-cancellable operating leases
2023 2022
£    £   
Within one year 747 4,482
Between one and five years - 747
747 5,229

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 12,474 23,989

PAUL MEAKIN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04589023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


10. RELATED PARTY DISCLOSURES

Details of related party transactions occurring during the year are as follows:


Related party Relationship Details Amount Balance
£ £
2023

Paul Meakin & Partners
Directors/ Partners in
Common

Rent payable

2,000

-

Paul Meakin & Partners
Directors / Partners in
Common

Loan account

-

(468

)
Paul Meakin Director Loan account - 36,000

2022

Paul Meakin & Partners
Directors / Partners in
Common

Rent payable

28,500

-

Paul Meakin & Partners
Directors / Partners in
Common

Loan account

-

(468

)
Paul Meakin Director Loan account - 36,000


11. CONTROLLING PARTY

The controlling party is P. R. Meakin.

12. CLIENT ACCOUNT

Included in cash at bank are balances totalling £290,802 (2022: £269,618) in respect of monies held under the Tenants Deposit Scheme and Client Account balances. The corresponding creditor is included in other creditors (Note 8) .