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REGISTERED NUMBER: 08008283 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PAUL SELWAY LTD

PAUL SELWAY LTD (REGISTERED NUMBER: 08008283)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PAUL SELWAY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr P M Selway





REGISTERED OFFICE: Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH





BUSINESS ADDRESS: 1 Chapel Cottages
Brockhampton
CHELTENHAM
Gloucestershire
GL54 5XJ





REGISTERED NUMBER: 08008283 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

PAUL SELWAY LTD (REGISTERED NUMBER: 08008283)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,760 46,463

CURRENT ASSETS
Debtors 5 1,077 1,889
Cash at bank 64,330 14,079
65,407 15,968
CREDITORS
Amounts falling due within one year 6 25,349 5,321
NET CURRENT ASSETS 40,058 10,647
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,818

57,110

PROVISIONS FOR LIABILITIES 7 7,519 8,828
NET ASSETS 71,299 48,282

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 71,199 48,182
SHAREHOLDERS' FUNDS 71,299 48,282

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2024 and were signed by:




Mr P M Selway - Director


PAUL SELWAY LTD (REGISTERED NUMBER: 08008283)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Paul Selway 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.

Turnover
Turnover represents net invoiced work done, excluding value added tax.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

PAUL SELWAY LTD (REGISTERED NUMBER: 08008283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 31,603 46,838 4,502 82,943
Additions 5,036 - 1,041 6,077
Disposals - (18,088 ) - (18,088 )
At 31 March 2024 36,639 28,750 5,543 70,932
DEPRECIATION
At 1 April 2023 9,404 22,861 4,215 36,480
Charge for year 5,447 5,391 528 11,366
Eliminated on disposal - (15,674 ) - (15,674 )
At 31 March 2024 14,851 12,578 4,743 32,172
NET BOOK VALUE
At 31 March 2024 21,788 16,172 800 38,760
At 31 March 2023 22,199 23,977 287 46,463

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 450
Tax - 613
Prepayments 1,077 826
1,077 1,889

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 6,258 365
Tax 10,333 -
Social security and other taxes 1,186 833
VAT 4,674 1,707
Other creditors 711 -
Directors' current accounts 50 379
Accrued expenses 2,137 2,037
25,349 5,321

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 7,519 8,828

PAUL SELWAY LTD (REGISTERED NUMBER: 08008283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 8,828
Provided during year (1,309 )
Balance at 31 March 2024 7,519

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100