Company registration number 05160757 (England and Wales)
PAUL GODDARD PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
PAUL GODDARD PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PAUL GODDARD PROPERTIES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
576,500
576,500
Current assets
Debtors
4
220,235
220,235
Cash at bank and in hand
6,432
3,046
226,667
223,281
Creditors: amounts falling due within one year
5
(352,057)
(355,201)
Net current liabilities
(125,390)
(131,920)
Total assets less current liabilities
451,110
444,580
Creditors: amounts falling due after more than one year
6
(216,750)
(216,750)
Provisions for liabilities
(8,252)
(8,252)
Net assets
226,108
219,578
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
225,108
218,578
Total equity
226,108
219,578

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

PAUL GODDARD PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 January 2025 and are signed on its behalf by:
P W Goddard
Director
Company Registration No. 05160757
PAUL GODDARD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Paul Goddard Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Fisher Street, Maidstone, Kent, United Kingdom, ME14 2RQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the rent receivable.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

PAUL GODDARD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2023:2)

 

PAUL GODDARD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
3
Investment property
2024
£
Fair value
At 1 May 2023 and 30 April 2024
576,500

The directors are of the opinion that the properties are valued at current fair value levels.

 

The historical cost of investment properties included above is £414,669.

 

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
220,235
220,235
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,760
2,460
Corporation tax
1,535
5,489
Other creditors
347,762
347,252
352,057
355,201
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
216,750
216,750
7
Undistributable reserves

The profit and loss account balance of the company includes the sum of £155,559 (2023: £155,559) representing the revaluation surplus on investment properties recognised at fair value less the potential deferred tax that would arise on the sale of those properties at their book value. Accordingly, this element of the company's reserves is not distributable.

2024-04-302023-05-01false20 January 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityP W GoddardS GoddardS Goddardfalsefalse051607572023-05-012024-04-30051607572024-04-30051607572023-04-3005160757core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3005160757core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3005160757core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3005160757core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3005160757core:CurrentFinancialInstruments2024-04-3005160757core:CurrentFinancialInstruments2023-04-3005160757core:ShareCapital2024-04-3005160757core:ShareCapital2023-04-3005160757core:RetainedEarningsAccumulatedLosses2024-04-3005160757core:RetainedEarningsAccumulatedLosses2023-04-3005160757bus:Director12023-05-012024-04-30051607572022-05-012023-04-30051607572023-04-3005160757core:WithinOneYear2024-04-3005160757core:WithinOneYear2023-04-3005160757core:Non-currentFinancialInstruments2024-04-3005160757core:Non-currentFinancialInstruments2023-04-3005160757bus:PrivateLimitedCompanyLtd2023-05-012024-04-3005160757bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005160757bus:FRS1022023-05-012024-04-3005160757bus:AuditExemptWithAccountantsReport2023-05-012024-04-3005160757bus:Director22023-05-012024-04-3005160757bus:CompanySecretary12023-05-012024-04-3005160757bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP