Registered number
03004047
Paul Bott Homes Limited
Unaudited Filleted Accounts
31 March 2024
Paul Bott Homes Limited
Registered number: 03004047
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 77,882 27,645
Current assets
Stocks 107,201 119,096
Debtors 4 27,995 21,723
Cash at bank and in hand 432,512 652,750
567,708 793,569
Creditors: amounts falling due within one year 5 (73,889) (191,811)
Net current assets 493,819 601,758
Total assets less current liabilities 571,701 629,403
Creditors: amounts falling due after more than one year 6 (36,856) (34,261)
Provisions for liabilities (14,798) (6,911)
Net assets 520,047 588,231
Capital and reserves
Called up share capital 2 2
Profit and loss account 520,045 588,229
Shareholders' funds 520,047 588,231
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S A Bott
Director
Approved by the board on 10 September 2024
Paul Bott Homes Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 & 10 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 76,701 26,884 103,585
Additions 21,570 43,954 65,524
Disposals (12,704) (10,461) (23,165)
At 31 March 2024 85,567 60,377 145,944
Depreciation
At 1 April 2023 55,332 20,608 75,940
Charge for the year 4,616 5,441 10,057
On disposals (12,704) (5,231) (17,935)
At 31 March 2024 47,244 20,818 68,062
Net book value
At 31 March 2024 38,323 39,559 77,882
At 31 March 2023 21,369 6,276 27,645
4 Debtors 2024 2023
£ £
Trade debtors 1,515 4,462
Other debtors 26,480 17,261
27,995 21,723
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,980 9,980
Obligations under finance lease and hire purchase contracts 13,108 3,442
Trade creditors 18,646 85,700
Taxation and social security costs 5,100 35,905
Other creditors 27,055 56,784
73,889 191,811
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,520 22,520
Obligations under finance lease and hire purchase contracts 24,336 11,741
36,856 34,261
7 Loans 2024 2023
£ £
Creditors include:
Secured hire purchase contracts 37,444 15,183
Secured creditors are hire purchase liabilities which are secured on those fixed assets to which the contracts relate.
8 Other information
Paul Bott Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
Portland House
21 Narborough Road
Cosby
Leicester
LE9 1TA
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