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REGISTERED NUMBER: 08596660 (England and Wales)















PAUL TERRY JOINERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PAUL TERRY JOINERY LIMITED (REGISTERED NUMBER: 08596660)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAUL TERRY JOINERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P A Terry
Mrs S Terry





REGISTERED OFFICE: 2 Denne Court Cottages
Hammill Woodnesborough
Sandwich
Kent
CT13 0EG





REGISTERED NUMBER: 08596660 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

PAUL TERRY JOINERY LIMITED (REGISTERED NUMBER: 08596660)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,184 4,166

CURRENT ASSETS
Stocks 1,385 2,941
Debtors 5 2,950 4,830
Cash at bank 25 64
4,360 7,835
CREDITORS
Amounts falling due within one year 6 (21,946 ) (24,059 )
NET CURRENT LIABILITIES (17,586 ) (16,224 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(13,402

)

(12,058

)

CREDITORS
Amounts falling due after more than one
year

7

(2,833

)

(4,833

)

PROVISIONS FOR LIABILITIES (795 ) (792 )
NET LIABILITIES (17,030 ) (17,683 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (17,033 ) (17,686 )
SHAREHOLDERS' FUNDS (17,030 ) (17,683 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 TERRY JOINERY LIMITED (REGISTERED NUMBER: 08596660)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





P A Terry - Director


PAUL TERRY JOINERY LIMITED (REGISTERED NUMBER: 08596660)

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

1. STATUTORY INFORMATION

Paul Terry Joinery 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.

The accounts are prepared on a going concern basis. As at the balance sheet date the company was insolvent.

The directors have considered the future trading of the company and are satisfied that the company has the ability to meet its liability as they fall due.

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.
Plant and machinery - 25% on reducing balance
Fixture and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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 TERRY JOINERY LIMITED (REGISTERED NUMBER: 08596660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixture
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 8,970 2,384 19,600 30,954
Additions 1,416 - - 1,416
At 31 December 2023 10,386 2,384 19,600 32,370
DEPRECIATION
At 1 January 2023 8,232 2,054 16,502 26,788
Charge for year 540 83 775 1,398
At 31 December 2023 8,772 2,137 17,277 28,186
NET BOOK VALUE
At 31 December 2023 1,614 247 2,323 4,184
At 31 December 2022 738 330 3,098 4,166

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts recoverable on contract 1,800 3,680
Other debtors 1,150 1,150
2,950 4,830

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,957 6,039
Trade creditors 26 2,341
Taxation and social security 8,137 8,382
Other creditors 7,826 7,297
21,946 24,059

PAUL TERRY JOINERY LIMITED (REGISTERED NUMBER: 08596660)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 2,833 4,833