IRIS Accounts Production v24.3.0.553 05654118 Board of Directors 28.2.23 27.2.24 27.2.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh056541182023-02-27056541182024-02-27056541182023-02-282024-02-27056541182022-02-28056541182022-03-012023-02-27056541182023-02-2705654118ns15:EnglandWales2023-02-282024-02-2705654118ns14:PoundSterling2023-02-282024-02-2705654118ns10:Director12023-02-282024-02-2705654118ns10:PrivateLimitedCompanyLtd2023-02-282024-02-2705654118ns10:SmallEntities2023-02-282024-02-2705654118ns10:AuditExempt-NoAccountantsReport2023-02-282024-02-2705654118ns10:SmallCompaniesRegimeForDirectorsReport2023-02-282024-02-2705654118ns10:SmallCompaniesRegimeForAccounts2023-02-282024-02-2705654118ns10:FullAccounts2023-02-282024-02-270565411812023-02-282024-02-2705654118ns10:Director22023-02-282024-02-2705654118ns10:RegisteredOffice2023-02-282024-02-2705654118ns5:CurrentFinancialInstruments2024-02-2705654118ns5:CurrentFinancialInstruments2023-02-2705654118ns5:Non-currentFinancialInstruments2024-02-2705654118ns5:Non-currentFinancialInstruments2023-02-2705654118ns5:ShareCapital2024-02-2705654118ns5:ShareCapital2023-02-2705654118ns5:RetainedEarningsAccumulatedLosses2024-02-2705654118ns5:RetainedEarningsAccumulatedLosses2023-02-2705654118ns5:NetGoodwill2023-02-282024-02-2705654118ns5:IntangibleAssetsOtherThanGoodwill2023-02-282024-02-2705654118ns5:PlantMachinery2023-02-282024-02-2705654118ns5:NetGoodwill2023-02-2705654118ns5:NetGoodwill2024-02-2705654118ns5:NetGoodwill2023-02-2705654118ns5:PlantMachinery2023-02-2705654118ns5:PlantMachinery2024-02-2705654118ns5:PlantMachinery2023-02-2705654118ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2705654118ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2705654118ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-02-2705654118ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-02-27
REGISTERED NUMBER: 05654118 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 27 FEBRUARY 2024

FOR

PAUL WINCHESTER & COMPANY LIMITED

PAUL WINCHESTER & COMPANY LIMITED (REGISTERED NUMBER: 05654118)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 FEBRUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PAUL WINCHESTER & COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 27 FEBRUARY 2024







DIRECTORS: P Winchester
W Winchester





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 05654118 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

PAUL WINCHESTER & COMPANY LIMITED (REGISTERED NUMBER: 05654118)

STATEMENT OF FINANCIAL POSITION
27 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,877 8,745
7,877 8,745

CURRENT ASSETS
Stocks 9,950 16,884
Debtors 6 36,014 52,789
Cash at bank and in hand 29,407 29,879
75,371 99,552
CREDITORS
Amounts falling due within one year 7 31,241 46,113
NET CURRENT ASSETS 44,130 53,439
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,007

62,184

CREDITORS
Amounts falling due after more than one
year

8

51,365

57,181
NET ASSETS 642 5,003

CAPITAL AND RESERVES
Called up and paid share capital 102 102
Retained earnings 540 4,901
SHAREHOLDERS' FUNDS 642 5,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 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.

PAUL WINCHESTER & COMPANY LIMITED (REGISTERED NUMBER: 05654118)

STATEMENT OF FINANCIAL POSITION - continued
27 FEBRUARY 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 November 2024 and were signed on its behalf by:





P Winchester - Director


PAUL WINCHESTER & COMPANY LIMITED (REGISTERED NUMBER: 05654118)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 FEBRUARY 2024


1. STATUTORY INFORMATION

Paul Winchester & Company 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 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of seven years.

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.

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 - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 statement of financial position date.


PAUL WINCHESTER & COMPANY LIMITED (REGISTERED NUMBER: 05654118)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 FEBRUARY 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 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.

Going concern
The financial statements have been prepared on the going concern concept. This assumes that the company will achieve a profitable level of trading and will continue to enjoy the support of its creditors and banks. The financial statements do not account for any adjustments that would be required if the company was unable to achieve these objectives.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 28 February 2023
and 27 February 2024 15,000
AMORTISATION
At 28 February 2023
and 27 February 2024 15,000
NET BOOK VALUE
At 27 February 2024 -
At 27 February 2023 -

PAUL WINCHESTER & COMPANY LIMITED (REGISTERED NUMBER: 05654118)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 FEBRUARY 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 28 February 2023 65,314
Additions 1,840
At 27 February 2024 67,154
DEPRECIATION
At 28 February 2023 56,569
Charge for year 2,708
At 27 February 2024 59,277
NET BOOK VALUE
At 27 February 2024 7,877
At 27 February 2023 8,745

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 28,589 52,632
Other debtors 1,109 157
29,698 52,789

Amounts falling due after more than one year:
Other debtors 6,316 -

Aggregate amounts 36,014 52,789

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,032 10,000
Trade creditors 12,276 18,145
Taxation and social security 7,658 16,622
Other creditors 1,275 1,346
31,241 46,113

PAUL WINCHESTER & COMPANY LIMITED (REGISTERED NUMBER: 05654118)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 FEBRUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,792 52,500
Other creditors 38,573 4,681
51,365 57,181

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors operated loans with the company with no fixed terms of repayment or interest. Amounts advanced during the year were £6,316 (2023 - £Nil). At the year end the amount owing to the company was £6,316 (2023 - £Nil).