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REGISTERED NUMBER: 08157495 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Paul Hussey Limited

Paul Hussey Limited (Registered number: 08157495)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paul Hussey Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr P Hussey





REGISTERED OFFICE: 2 Northside
Wells Road
Chilcompton
Radstock
BA3 4ET





REGISTERED NUMBER: 08157495 (England and Wales)





ACCOUNTANTS: Accounting Solutions
2 Northside
Wells Road
Chilcompton
Radstock
BA3 4ET

Paul Hussey Limited (Registered number: 08157495)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 36,218 47,813
36,218 47,813

CURRENT ASSETS
Stocks 7,000 19,000
Debtors 6 148,486 124,924
Cash at bank 111,111 130,810
266,597 274,734
CREDITORS
Amounts falling due within one year 7 55,977 72,692
NET CURRENT ASSETS 210,620 202,042
TOTAL ASSETS LESS CURRENT
LIABILITIES

246,838

249,855

CREDITORS
Amounts falling due after more than one
year

8

39,484

48,273
NET ASSETS 207,354 201,582

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 207,352 201,580
SHAREHOLDERS' FUNDS 207,354 201,582

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Paul Hussey Limited (Registered number: 08157495)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 January 2025 and were signed by:





Mr P Hussey - Director


Paul Hussey Limited (Registered number: 08157495)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Paul Hussey 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.

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 2013, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.


Paul Hussey Limited (Registered number: 08157495)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 20,000
AMORTISATION
At 1 August 2023
and 31 July 2024 20,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

Paul Hussey Limited (Registered number: 08157495)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 1,208 2,904 91,691 7,802 103,605
Additions - - - 724 724
At 31 July 2024 1,208 2,904 91,691 8,526 104,329
DEPRECIATION
At 1 August 2023 899 2,659 44,573 7,661 55,792
Charge for year 77 81 11,779 382 12,319
At 31 July 2024 976 2,740 56,352 8,043 68,111
NET BOOK VALUE
At 31 July 2024 232 164 35,339 483 36,218
At 31 July 2023 309 245 47,118 141 47,813

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023
and 31 July 2024 59,991
DEPRECIATION
At 1 August 2023 26,246
Charge for year 8,436
At 31 July 2024 34,682
NET BOOK VALUE
At 31 July 2024 25,309
At 31 July 2023 33,745

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,960 6,220
Other debtors 141,526 118,704
148,486 124,924

Paul Hussey Limited (Registered number: 08157495)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,000 6,000
Hire purchase contracts 2,806 2,810
Trade creditors 19,313 30,404
Taxation and social security 26,306 32,015
Other creditors 1,552 1,463
55,977 72,692

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 5,415 11,401
Hire purchase contracts 34,069 36,872
39,484 48,273

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company was under the control of the director throughout the period as stated in the report of the director.

Interest is charged on the overdrawn directors' loan account balances at the official rate of 2.25%.