REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st May 2024 |
for |
PAYNE ADJUSTING LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st May 2024 |
for |
PAYNE ADJUSTING LIMITED |
PAYNE ADJUSTING LIMITED (REGISTERED NUMBER: 04545888) |
Contents of the Financial Statements |
for the Year Ended 31st May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PAYNE ADJUSTING LIMITED |
Company Information |
for the Year Ended 31st May 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
38 Salisbury Road |
Worthing |
West Sussex |
BN11 1RD |
PAYNE ADJUSTING LIMITED (REGISTERED NUMBER: 04545888) |
Balance Sheet |
31st May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
PAYNE ADJUSTING LIMITED (REGISTERED NUMBER: 04545888) |
Notes to the Financial Statements |
for the Year Ended 31st May 2024 |
1. | STATUTORY INFORMATION |
Payne Adjusting Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been 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. |
Tangible fixed assets |
Office equipment | - |
Computer equipment | - |
Investment property |
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
Income from operating leases. |
Income generated from operating leases is credited to the profit & loss account in accordance with the period to which the rentals relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Office | Computer |
equipment | equipment | Totals |
£ | £ | £ |
COST |
At 1st June 2023 |
and 31st May 2024 |
DEPRECIATION |
At 1st June 2023 |
Charge for year |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
PAYNE ADJUSTING LIMITED (REGISTERED NUMBER: 04545888) |
Notes to the Financial Statements - continued |
for the Year Ended 31st May 2024 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1st June 2023 |
and 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
Cost or valuation at 31st May 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2010 | (21,004 | ) |
Valuation in 2012 | 2,040 |
Valuation in 2016 | 18,964 |
Cost | 143,956 |
143,956 |
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 143,956 | 143,956 |
Fixed asset investments were valued on an open market basis on 31st May 2024 by the director . |
Investment properties included in unlisted investments are held for use in operating leases. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Director's loan account | 221 | 118 |
Accrued expenses |