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REGISTERED NUMBER: 00326369 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Payne & Son (Silversmiths) Limited

Payne & Son (Silversmiths) Limited (Registered number: 00326369)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Payne & Son (Silversmiths) Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: M D Payne
Mrs A L Payne





SECRETARY: Mrs A L Payne





REGISTERED OFFICE: 36 Cambridge Road
Hastings
East Sussex
TN34 1DU





REGISTERED NUMBER: 00326369 (England and Wales)





ACCOUNTANTS: Deeks Evans Audit Services Limited
Chartered Accountants
36 Cambridge Road
Hastings
East Sussex
TN34 1DU

Payne & Son (Silversmiths) Limited (Registered number: 00326369)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 121,246 121,898

CURRENT ASSETS
Stocks 121,951 120,580
Debtors 5 1,676 1,002
Cash at bank 64,540 70,939
188,167 192,521
CREDITORS
Amounts falling due within one year 6 6,114 6,780
NET CURRENT ASSETS 182,053 185,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

303,299

307,639

CAPITAL & RESERVES
Called up share capital 7 15,175 15,175
Retained earnings 288,124 292,464
303,299 307,639

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

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 20 September 2024 and were signed on its behalf by:





M D Payne - Director


Payne & Son (Silversmiths) Limited (Registered number: 00326369)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Payne & Son (Silversmiths) 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.

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.
Land and buildings - 1% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 130,844 463 131,307
Additions - 892 892
At 31 July 2024 130,844 1,355 132,199
DEPRECIATION
At 1 August 2023 9,055 354 9,409
Charge for year 1,294 250 1,544
At 31 July 2024 10,349 604 10,953
NET BOOK VALUE
At 31 July 2024 120,495 751 121,246
At 31 July 2023 121,789 109 121,898

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,676 1,002

Payne & Son (Silversmiths) Limited (Registered number: 00326369)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation & social security 3,014 3,679
Other creditors 3,100 3,101
6,114 6,780

7. CALLED UP SHARE CAPITAL

Allotted, called up an fully paid shares

2024 2023
£ £
Ordinary shares of £1 each 15,000 15,000 15000 15000
A ordinary shares of 5p each 500 25 500 25
B ordinary shares of 5p each 500 25 500 25
C ordinary shares of 5p each 500 25 500 25
D ordinary shares of 5p each 500 25 500 25
E ordinary shares of 5p each 500 25 500 25
F ordinary shares of 5p each 500 25 500 25
G ordinary shares of 5p each 500 25 500 25
18,500 15,175 18,500 15,175