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Registered Number: 08801749
England and Wales

 

 

 

PAUL'S MINI SKIPS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with technical guidance issued by the Association of International Accountants and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the balance sheet as at year ended 30 November 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements



....................................................
Josh Botham Tax & Accounting Services Ltd
Archer House Britland Estate
Northbourne Road
Eastbourne
East Sussex
BN22 8PW
31 October 2023
1
 
 
Notes
 
30/11/2023
£
  30/11/2022
£
Fixed assets      
Tangible fixed assets 5 1,524,360    1,029,007 
1,524,360    1,029,007 
Current assets      
Debtors: amounts falling due within one year 136,372   
Cash at bank and in hand 5,615    163,380 
141,987    163,380 
Creditors: amount falling due within one year (174,760)   (251,696)
Net current assets (32,773)   (88,316)
 
Total assets less current liabilities 1,491,587    940,691 
Creditors: amount falling due after more than one year (1,009,718)   (458,918)
Provisions for liabilities   (47,086)
Net assets 481,869    434,687 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 481,769    434,587 
Shareholders' funds 481,869    434,687 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 31 October 2023 and were signed by:


-------------------------------
Paul Dawber
Director
2
General Information
Paul's Mini Skips Ltd is a private company, limited by shares, registered in England and Wales, registration number 08801749, registration address Archer House, Britland Estate, Northbourne Road, Eastbourne, East Sussex, BN22 8PW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 4 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 4% Straight Line
Plant and Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

30/11/2023
£
  30/11/2022
£
Administrative Expenses
Directors Salaries 12,570    10,634 
Directors Pension Contributions (360)  
12,210    10,634 
During the year, no retirement benefits were accruing to the director (previous year nil) in respect of money purchase schemes. The highest paid director earned emoluments of £8,060 during the year.

3.

Average number of employees

Average number of employees during the year was 6 (2022 : 3).
4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022 10,000    10,000 
Additions  
Disposals  
At 30 November 2023 10,000    10,000 
Amortisation
At 01 December 2022 10,000    10,000 
Charge for year  
On disposals  
At 30 November 2023 10,000    10,000 
Net book values
At 30 November 2023  
At 30 November 2022  


5.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 December 2022 696,902    489,806    246,917    2,344    3,998    1,439,967 
Additions 434,000    54,933    123,586        612,519 
Disposals          
At 30 November 2023 1,130,902    544,739    370,503    2,344    3,998    2,052,486 
Depreciation
At 01 December 2022 27    333,065    71,526    2,344    3,998    410,960 
Charge for year   52,128    65,038        117,166 
On disposals          
At 30 November 2023 27    385,193    136,564    2,344    3,998    528,126 
Net book values
Closing balance as at 30 November 2023 1,130,875    159,546    233,939        1,524,360 
Opening balance as at 01 December 2022 696,875    156,741    175,391        1,029,007 


6.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
30/11/2023
£
  30/11/2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3