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REGISTERED NUMBER: 11851359 (England and Wales)


















PAUL MORGAN BUILDINGS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






PAUL MORGAN BUILDINGS LTD (REGISTERED NUMBER: 11851359)

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


PAUL MORGAN BUILDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: P Morgan





REGISTERED OFFICE: Maendy Isaf
Lower Machen
Newport
Newport
NP10 8GW





REGISTERED NUMBER: 11851359 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

PAUL MORGAN BUILDINGS LTD (REGISTERED NUMBER: 11851359)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 100 110

CURRENT ASSETS
Stocks 271,599 -
Debtors 5 2,987 205,134
Cash at bank - 1,923
274,586 207,057
CREDITORS
Amounts falling due within one year 6 (93,832 ) (20,542 )
NET CURRENT ASSETS 180,754 186,515
TOTAL ASSETS LESS CURRENT
LIABILITIES

180,854

186,625

CAPITAL AND RESERVES
Called up share capital 7 4 4
Retained earnings 180,850 186,621
SHAREHOLDERS' FUNDS 180,854 186,625

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 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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 13 November 2024 and were signed by:





P Morgan - Director


PAUL MORGAN BUILDINGS LTD (REGISTERED NUMBER: 11851359)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Paul Morgan Buildings Limited 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 company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover
The turnover shown in the profit and loss account is measured at fair value of the consideration receivable in respect of the sale of residential property, 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.
Motor vehicles - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

Financial instruments
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

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

PAUL MORGAN BUILDINGS LTD (REGISTERED NUMBER: 11851359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 March 2023
and 29 February 2024 2,667
DEPRECIATION
At 1 March 2023 2,557
Charge for year 10
At 29 February 2024 2,567
NET BOOK VALUE
At 29 February 2024 100
At 28 February 2023 110

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation and other tax 1,571 -
Director's current account - 201,102
VAT 896 4,032
Prepayments 520 -
2,987 205,134

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 386 512
Corporation tax - 16,691
Other creditors 1,273 -
Director's current account 89,832 -
Accruals and deferred income 2,341 3,339
93,832 20,542

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary 1 4 4

PAUL MORGAN BUILDINGS LTD (REGISTERED NUMBER: 11851359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
P Morgan
Balance outstanding at start of year 201,102 (531,421 )
Amounts advanced 79,036 788,794
Amounts repaid (369,970 ) (56,271 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (89,832 ) 201,102