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Registered number: 04221634
PARTONS BUILDING SUPPLIES LIMITED
Unaudited Financial Statements
For The Year Ended 31 January 2024
SWAIN & CO LIMITED.
2 BRAEMAR ROAD
PATTINGHAM
WOLVERHAMPTON
WV6 7DT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04221634
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,086 17,393
16,086 17,393
CURRENT ASSETS
Stocks 5 68,500 68,500
Debtors 6 14,412 23,142
Cash at bank and in hand 23,954 14,706
106,866 106,348
Creditors: Amounts Falling Due Within One Year 7 (48,157 ) (50,627 )
NET CURRENT ASSETS (LIABILITIES) 58,709 55,721
TOTAL ASSETS LESS CURRENT LIABILITIES 74,795 73,114
Creditors: Amounts Falling Due After More Than One Year 8 (5,055 ) (10,110 )
NET ASSETS 69,740 63,004
CAPITAL AND RESERVES
Called up share capital 10 572 572
Share premium account (7,266 ) (7,266 )
Profit and Loss Account 76,434 69,698
SHAREHOLDERS' FUNDS 69,740 63,004
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Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D A PARTON
Director
29/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PARTONS BUILDING SUPPLIES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 04221634 . The registered office is ADJACENT TO 319 ASPEN WAY, WOLVERHAMPTON, WEST MIDLANDS, WV3 0PZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Per annum reducing balance.
Motor Vehicles 25% Per annum reducing balance.
Fixtures & Fittings 25% Per annum reducing balance.
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 65,205 38,351 5,856 109,412
Additions - - 3,196 3,196
As at 31 January 2024 65,205 38,351 9,052 112,608
Depreciation
As at 1 February 2023 58,759 27,517 5,743 92,019
Provided during the period 967 2,709 827 4,503
As at 31 January 2024 59,726 30,226 6,570 96,522
Net Book Value
As at 31 January 2024 5,479 8,125 2,482 16,086
As at 1 February 2023 6,446 10,834 113 17,393
5. Stocks
2024 2023
£ £
Finished goods 68,500 68,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,106 21,836
Prepayments and accrued income 1,306 1,306
14,412 23,142
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,055 5,055
Trade creditors 34,320 31,865
Other taxes and social security 6,137 11,057
Other creditors 2,419 2,420
Accruals 226 230
48,157 50,627
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,055 10,110
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,055 5,055
Later than five years 5,055 10,110
10,110 15,165
10,110 15,165
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 572 572
Page 5