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REGISTERED NUMBER: 12470053 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PAYNE & SONS PROPERTY LTD

PAYNE & SONS PROPERTY LTD (REGISTERED NUMBER: 12470053)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PAYNE & SONS PROPERTY LTD

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: Mrs R A Payne
D L Payne





REGISTERED OFFICE: 69 Cairns Road
Sunderland
SR5 1QS





REGISTERED NUMBER: 12470053 (England and Wales)





ACCOUNTANTS: Robert Miller & Co.
Chartered Accountants
43a Front Street
Cleadon Village
Sunderland
SR6 7PG

PAYNE & SONS PROPERTY LTD (REGISTERED NUMBER: 12470053)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 197,852 197,852

CURRENT ASSETS
Cash at bank 2,011 706

CREDITORS
Amounts falling due within one
year

4

3,150

3,619
NET CURRENT LIABILITIES (1,139 ) (2,913 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,713

194,939

CREDITORS
Amounts falling due after more
than one year

5

194,944

194,254
NET ASSETS 1,769 685

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,569 485
SHAREHOLDERS' FUNDS 1,769 685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:




Mrs R A Payne - Director


PAYNE & SONS PROPERTY LTD (REGISTERED NUMBER: 12470053)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

3. TANGIBLE FIXED ASSETS
Properties
£   
COST
At 1 March 2023
and 29 February 2024 197,852
NET BOOK VALUE
At 29 February 2024 197,852
At 28 February 2023 197,852

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,946 2,788
Taxation and social security 724 411
Other creditors 480 420
3,150 3,619

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 78,152 79,054
Other creditors 116,792 115,200
194,944 194,254