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REGISTERED NUMBER: 11178576 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PAUL FRAMPTON DESIGN LTD

PAUL FRAMPTON DESIGN LTD (REGISTERED NUMBER: 11178576)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

PAUL FRAMPTON DESIGN LTD

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: Mr S P Frampton
S L Clarke
Mrs S Clarke





REGISTERED OFFICE: 10 St Ann Street
Salisbury
Wiltshire
SP1 2DN





REGISTERED NUMBER: 11178576 (England and Wales)





ACCOUNTANTS: Rothmans LLP
10 St Ann Street
Salisbury
Wiltshire
SP1 2DN

PAUL FRAMPTON DESIGN LTD (REGISTERED NUMBER: 11178576)

BALANCE SHEET
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,225 500
Tangible assets 5 22,546 25,806
24,771 26,306

CURRENT ASSETS
Stocks 25,000 22,950
Debtors 6 1,757 10,261
Cash at bank 35,162 29,781
61,919 62,992
CREDITORS
Amounts falling due within one year 7 55,761 51,540
NET CURRENT ASSETS 6,158 11,452
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,929

37,758

CREDITORS
Amounts falling due after more than one
year

8

(23,171

)

(32,274

)

PROVISIONS FOR LIABILITIES (4,284 ) (2,786 )
NET ASSETS 3,474 2,698

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,374 2,598
3,474 2,698

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

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

PAUL FRAMPTON DESIGN LTD (REGISTERED NUMBER: 11178576)

BALANCE SHEET - continued
31 January 2024


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 29 October 2024 and were signed on its behalf by:





Mr S P Frampton - Director


PAUL FRAMPTON DESIGN LTD (REGISTERED NUMBER: 11178576)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Paul Frampton Design Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable for the sale of hand crafted furniture.

Revenue is recognised on the sale of furniture once the goods have been delivered to or collected by the customer, at which time the significant risks and rewards of ownership have passed to the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of two years.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

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 etc - 33% on cost and 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks
The company holds stocks of materials, consumables and finished goods. As these items are not subject to physical obsolescence they are valued at cost.

Materials are issued to production on a first in first out basis, unless materials have been purchased for a specific order.

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.


PAUL FRAMPTON DESIGN LTD (REGISTERED NUMBER: 11178576)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Debtors
Debtors do not carry and interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Creditors
Creditors are not interest bearing and are stated at their nominal value.

Cash and cash equivalents
These comprise cash at bank and other short term highly liquid deposits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023 6,614
Additions 3,450
At 31 January 2024 10,064
AMORTISATION
At 1 February 2023 6,114
Charge for year 1,725
At 31 January 2024 7,839
NET BOOK VALUE
At 31 January 2024 2,225
At 31 January 2023 500

PAUL FRAMPTON DESIGN LTD (REGISTERED NUMBER: 11178576)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 47,571
Additions 1,992
At 31 January 2024 49,563
DEPRECIATION
At 1 February 2023 21,765
Charge for year 5,252
At 31 January 2024 27,017
NET BOOK VALUE
At 31 January 2024 22,546
At 31 January 2023 25,806

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,757 8,525
Other debtors - 1,736
1,757 10,261

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 6,080 8,636
Trade creditors - 1
Taxation and social security 29,292 27,798
Other creditors 20,389 15,105
55,761 51,540

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 23,171 32,274

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and
31 January 2023:
31.1.2431.1.23
£ £
DIRECTOR
Balance outstanding at the start of year- -
Amounts advanced8,0947,420
Amounts repaid(8,094)(7,420)
Balance outstanding at the end of year- -
The loan is repayable on demand and subject to interest at commercial rates.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PAUL FRAMPTON DESIGN LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paul Frampton Design Ltd for the year ended 31 January 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Paul Frampton Design Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Paul Frampton Design Ltd and state those matters that we have agreed to state to the Board of Directors of Paul Frampton Design Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paul Frampton Design Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Paul Frampton Design Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Paul Frampton Design Ltd. You consider that Paul Frampton Design Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Paul Frampton Design Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
10 St Ann Street
Salisbury
Wiltshire
SP1 2DN


31 October 2024