8 01/09/2022 29/02/2024 2024-02-29 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2022-09-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 03764905 2022-09-01 2024-02-29 03764905 2024-02-29 03764905 2022-08-31 03764905 2021-09-01 2022-08-31 03764905 2022-08-31 03764905 2021-08-31 03764905 core:PlantMachinery 2022-09-01 2024-02-29 03764905 core:FurnitureFittingsToolsEquipment 2022-09-01 2024-02-29 03764905 core:MotorVehicles 2022-09-01 2024-02-29 03764905 bus:Director1 2022-09-01 2024-02-29 03764905 core:LandBuildings core:ShortLeaseholdAssets 2022-08-31 03764905 core:PlantMachinery 2022-08-31 03764905 core:FurnitureFittingsToolsEquipment 2022-08-31 03764905 core:MotorVehicles 2022-08-31 03764905 core:LandBuildings core:ShortLeaseholdAssets 2024-02-29 03764905 core:PlantMachinery 2024-02-29 03764905 core:FurnitureFittingsToolsEquipment 2024-02-29 03764905 core:MotorVehicles 2024-02-29 03764905 core:WithinOneYear 2024-02-29 03764905 core:WithinOneYear 2022-08-31 03764905 core:AfterOneYear 2024-02-29 03764905 core:AfterOneYear 2022-08-31 03764905 core:ShareCapital 2024-02-29 03764905 core:ShareCapital 2022-08-31 03764905 core:RetainedEarningsAccumulatedLosses 2024-02-29 03764905 core:RetainedEarningsAccumulatedLosses 2022-08-31 03764905 core:BetweenOneFiveYears 2024-02-29 03764905 core:BetweenOneFiveYears 2022-08-31 03764905 core:PlantMachinery 2022-08-31 03764905 core:FurnitureFittingsToolsEquipment 2022-08-31 03764905 core:MotorVehicles 2022-08-31 03764905 bus:SmallEntities 2022-09-01 2024-02-29 03764905 bus:AuditExemptWithAccountantsReport 2022-09-01 2024-02-29 03764905 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2024-02-29 03764905 bus:PrivateLimitedCompanyLtd 2022-09-01 2024-02-29 03764905 bus:FullAccounts 2022-09-01 2024-02-29
Company registration number: 03764905
Paben Windows Limited
Unaudited filleted financial statements
29 February 2024
Paben Windows Limited
Contents
Accountants report
Statement of financial position
Notes to the financial statements
Paben Windows Limited
Statement of financial position
29 February 2024
29/02/24 31/08/22
Note £ £ £ £
Fixed assets
Tangible assets 3 14,507 28,431
_______ _______
14,507 28,431
Current assets
Stocks 4 24,457 20,000
Debtors 5 116,016 187,753
Cash at bank and in hand 33,362 22,570
_______ _______
173,835 230,323
Creditors: amounts falling due
within one year 6 ( 201,339) ( 290,536)
_______ _______
Net current liabilities ( 27,504) ( 60,213)
_______ _______
Total assets less current liabilities ( 12,997) ( 31,782)
Creditors: amounts falling due
after more than one year 7 ( 14,814) ( 29,942)
Provisions for liabilities ( 2,921) ( 2,096)
_______ _______
Net liabilities ( 30,732) ( 63,820)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 30,832) ( 63,920)
_______ _______
Shareholders deficit ( 30,732) ( 63,820)
_______ _______
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 September 2024 , and are signed on behalf of the board by:
Mr Michael John Oben
Director
Company registration number: 03764905
Paben Windows Limited
Notes to the financial statements
Period ended 29 February 2024
1. General information
Paben Windows Limited (Company number 03764905 ) is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Albion Place, Maidstone, Kent, ME14 5DY.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
2. Employee numbers
The average number of persons employed by the company, including directors, during the period amounted to 8 (2022: 10).
3. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 September 2022 18,650 128,402 14,404 59,785 221,241
Disposals - - - ( 17,392) ( 17,392)
_______ _______ _______ _______ _______
At 29 February 2024 18,650 128,402 14,404 42,393 203,849
_______ _______ _______ _______ _______
Depreciation
At 1 September 2022 18,650 114,965 12,246 46,949 192,810
Charge for the year - 2,016 810 1,044 3,870
Disposals - - - ( 7,338) ( 7,338)
_______ _______ _______ _______ _______
At 29 February 2024 18,650 116,981 13,056 40,655 189,342
_______ _______ _______ _______ _______
Carrying amount
At 29 February 2024 - 11,421 1,348 1,738 14,507
_______ _______ _______ _______ _______
At 31 August 2022 - 13,437 2,158 12,836 28,431
_______ _______ _______ _______ _______
4. Stocks
29/02/24 31/08/22
£ £
Raw materials 15,000 15,000
Work in progress 9,457 5,000
_______ _______
24,457 20,000
_______ _______
5. Debtors
29/02/24 31/08/22
£ £
Trade debtors 52,923 162,672
Other debtors 63,093 25,081
_______ _______
116,016 187,753
_______ _______
6. Creditors: amounts falling due within one year
29/02/24 31/08/22
£ £
Bank loans and overdrafts 10,149 9,766
Trade creditors 14,086 157,223
Social security and other taxes 3,395 6,756
Other creditors 172,977 116,059
_______ _______
200,607 289,804
_______ _______
7. Creditors: amounts falling due after more than one year
29/02/24 31/08/22
£ £
Other creditors 14,814 29,942
_______ _______
8. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 32,168 32,168
Later than 1 year and not later than 5 years 2,681 34,849
_______ _______
34,849 67,017
_______ _______