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Company No: 05753561 (England and Wales)

PATON HTAY LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

PATON HTAY LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

PATON HTAY LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
PATON HTAY LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 21,319 23,305
21,319 23,305
Current assets
Debtors
- due within one year 4 111,690 111,117
- due after more than one year 4 14,473 0
Cash at bank and in hand 17,252 26,281
143,415 137,398
Creditors: amounts falling due within one year 5 ( 70,569) ( 58,160)
Net current assets 72,846 79,238
Total assets less current liabilities 94,165 102,543
Net assets 94,165 102,543
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 94,065 102,443
Total shareholders' funds 94,165 102,543

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Paton Htay Ltd (registered number: 05753561) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

W J Htay
Director

27 January 2025

PATON HTAY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
PATON HTAY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Paton Htay Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 50,115 50,115
At 31 March 2024 50,115 50,115
Accumulated depreciation
At 01 April 2023 26,810 26,810
Charge for the financial year 1,986 1,986
At 01 April 2023 0 0
At 31 March 2024 28,796 28,796
Net book value
At 31 March 2024 21,319 21,319
At 31 March 2023 23,305 23,305

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 7,464 2,232
Other debtors 104,226 108,885
111,690 111,117
Debtors: amounts falling due after more than one year
Other debtors 14,473 0

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 4,998 6,450
Taxation and social security 65,491 51,630
Other creditors 80 80
70,569 58,160

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each (2023: nil shares) 100 0
Nil ordinary shares (2023: 100 shares of £ 1.00 each) 0 100
100 100

7. Related party transactions

Other related party transactions

2024 2023
£ £
Included within debtors, as of the year-end is £106,477 (2023: £108,882), an amount owed by the directors of the company. 106,477 108,882