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REGISTERED NUMBER: 04545888 (England and Wales)
















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: R J Payne





SECRETARY: Mrs C A Payne





REGISTERED OFFICE: 38 Salisbury Road
Worthing
West Sussex
BN11 1RD





REGISTERED NUMBER: 04545888 (England and Wales)





ACCOUNTANTS: MastersFuller
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 4 429 782
Investments 5 143,956 143,956
144,385 144,738

CREDITORS
Amounts falling due within one year 6 1,049 851
NET CURRENT LIABILITIES (1,049 ) (851 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,336

143,887

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 142,336 142,887
SHAREHOLDERS' FUNDS 143,336 143,887

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th July 2024 and were signed by:





R J Payne - Director


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 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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 20% on cost
Computer equipment - 33% on cost

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 4,291 6,385 10,676
DEPRECIATION
At 1st June 2023 4,283 5,611 9,894
Charge for year - 353 353
At 31st May 2024 4,283 5,964 10,247
NET BOOK VALUE
At 31st May 2024 8 421 429
At 31st May 2023 8 774 782

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 143,956
NET BOOK VALUE
At 31st May 2024 143,956
At 31st May 2023 143,956

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 828 733
1,049 851