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Registered number: 02969971
Paulco Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr Timothy Stone
Company Number 02969971
Registered Office 107-109 Towngate,
Leyland,
Lancashire,
England
PR25 2LQ
Page 1
Page 2
Balance Sheet
Registered number: 02969971
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 96 127
Investment Properties 5 1,355,000 1,355,000
1,355,096 1,355,127
CURRENT ASSETS
Debtors 6 49,182 7,925
Cash at bank and in hand 16,722 47,627
65,904 55,552
Creditors: Amounts Falling Due Within One Year 7 (7,487 ) (14,983 )
NET CURRENT ASSETS (LIABILITIES) 58,417 40,569
TOTAL ASSETS LESS CURRENT LIABILITIES 1,413,513 1,395,696
PROVISIONS FOR LIABILITIES
Deferred Taxation (277,008 ) (210,526 )
NET ASSETS 1,136,505 1,185,170
CAPITAL AND RESERVES
Called up share capital 1,047 1,047
Share premium account 231,381 231,381
Fair value reserve 9 831,024 897,506
Profit and Loss Account 73,053 55,236
SHAREHOLDERS' FUNDS 1,136,505 1,185,170
Page 2
Page 3
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Timothy Stone
Director
14th November 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Paulco Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02969971 . The registered office is 107-109 Towngate,, Leyland, , Lancashire,, England, PR25 2LQ.
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, excluding discounts, rebates, value added tax and other sales taxes. 
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 25% on reducing balance
2.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. 
2.5. 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 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 statement of financial position date.
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: NIL)
1 -
Page 4
Page 5
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2023 2,976
As at 29 February 2024 2,976
Depreciation
As at 1 March 2023 2,849
Provided during the period 31
As at 29 February 2024 2,880
Net Book Value
As at 29 February 2024 96
As at 1 March 2023 127
5. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 29 February 2024 1,355,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 246,968 246,968
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 49,182 7,925
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (2 )
Other creditors 3,300 8,077
Taxation and social security 4,187 6,908
7,487 14,983
Page 5
Page 6
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Timothy Stone 3,213 50,425 180 - 47,032
The above loan is unsecured, interest free and repayable on demand.
9. Reserves
Fair Value Reserve
£
As at 1 March 2023 897,506
Movements in fair value reserve (66,482)
As at 29 February 2024 831,024
Page 6