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REGISTERED NUMBER: 04918995 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Paul Brereton Limited

Paul Brereton Limited (Registered number: 04918995)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

Paul Brereton Limited

Company Information
for the year ended 31 October 2023







DIRECTORS: P H Brereton
P Brereton





SECRETARY: P Brereton





REGISTERED OFFICE: 19 Trinity Square
Llandudno
CONWY
LL30 2RD





REGISTERED NUMBER: 04918995 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Chartered Accountants
19 Trinity Square
Llandudno
CONWY
LL30 2RD

Paul Brereton Limited (Registered number: 04918995)

Balance Sheet
31 October 2023

2023 2022
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 96,432 70,902
96,432 70,902

CURRENT ASSETS
Stocks 188,000 155,000
Debtors 6 28,211 45,576
Cash at bank 13,092 10,107
229,303 210,683
CREDITORS
Amounts falling due within one year 7 (256,240 ) (214,594 )
NET CURRENT LIABILITIES (26,937 ) (3,911 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,495

66,991

CREDITORS
Amounts falling due after more than one year 8 (62,423 ) (71,541 )

PROVISIONS FOR LIABILITIES (6,059 ) (942 )
NET ASSETS/(LIABILITIES) 1,013 (5,492 )

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Retained earnings (87 ) (6,592 )
SHAREHOLDERS' FUNDS 1,013 (5,492 )

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

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

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 30 July 2024 and were signed on its behalf by:



P H Brereton - Director


Paul Brereton Limited (Registered number: 04918995)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Paul Brereton 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated remaining useful life of five 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
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Long leasehold - in accordance with the property
Plant & machinery- 25% on reducing balance
Fixtures and fittings- 25% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 25 % on reducing balance

No depreciation has been provided for on the land and buildings as ongoing expenditure is incurred to ensure that their residual value is maintained, and so any depreciation would be immaterial.

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

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 Brereton Limited (Registered number: 04918995)

Notes to the Financial Statements - continued
for the year ended 31 October 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.

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.

Share capital
Ordinary shares are classed as equity.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 November 2022
and 31 October 2023 67,000
AMORTISATION
At 1 November 2022
and 31 October 2023 67,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Paul Brereton Limited (Registered number: 04918995)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£ £ £
COST
At 1 November 2022 42,530 82,896 22,178
Additions - - -
At 31 October 2023 42,530 82,896 22,178
DEPRECIATION
At 1 November 2022 - 73,158 20,969
Charge for year - 2,435 303
At 31 October 2023 - 75,593 21,272
NET BOOK VALUE
At 31 October 2023 42,530 7,303 906
At 31 October 2022 42,530 9,738 1,209

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 November 2022 50,905 3,353 201,862
Additions 43,500 - 43,500
At 31 October 2023 94,405 3,353 245,362
DEPRECIATION
At 1 November 2022 33,556 3,277 130,960
Charge for year 15,213 19 17,970
At 31 October 2023 48,769 3,296 148,930
NET BOOK VALUE
At 31 October 2023 45,636 57 96,432
At 31 October 2022 17,349 76 70,902

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 November 2022 47,100 50,905 98,005
Additions - 43,500 43,500
At 31 October 2023 47,100 94,405 141,505
DEPRECIATION
At 1 November 2022 37,912 33,556 71,468
Charge for year 1,934 14,338 16,272
At 31 October 2023 39,846 47,894 87,740
NET BOOK VALUE
At 31 October 2023 7,254 46,511 53,765
At 31 October 2022 9,188 17,349 26,537

Paul Brereton Limited (Registered number: 04918995)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 22,006 45,354
Other debtors 6,205 222
28,211 45,576

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 15,298 15,015
Hire purchase contracts 23,625 15,000
Trade creditors 38,373 25,433
Taxation and social security 542 4,555
Other creditors 178,402 154,591
256,240 214,594

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 32,211 47,791
Hire purchase contracts 30,212 23,750
62,423 71,541

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Paul Brereton Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 of Paul Brereton Limited for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Paul Brereton Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Paul Brereton Limited and state those matters that we have agreed to state to the Board of Directors of Paul Brereton Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paul Brereton Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Paul Brereton Limited 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 of Paul Brereton Limited. You consider that Paul Brereton Limited 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 Paul Brereton Limited. 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.






Bennett Brooks & Co Ltd
Chartered Accountants
19 Trinity Square
Llandudno
CONWY
LL30 2RD


30 July 2024