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REGISTERED NUMBER: 01905432 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

J. H. PAYNE & SONS LIMITED

J. H. PAYNE & SONS LIMITED (REGISTERED NUMBER: 01905432)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J. H. PAYNE & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: D W Humphreys
Mrs J E Humphreys





REGISTERED OFFICE: 30 - 34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 01905432 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

J. H. PAYNE & SONS LIMITED (REGISTERED NUMBER: 01905432)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 155,535 130,247

CURRENT ASSETS
Stocks 127,528 155,295
Debtors 5 680,904 521,965
Cash at bank and in hand 723,941 587,018
1,532,373 1,264,278
CREDITORS
Amounts falling due within one year 6 (1,018,334 ) (880,086 )
NET CURRENT ASSETS 514,039 384,192
TOTAL ASSETS LESS CURRENT
LIABILITIES

669,574

514,439

CREDITORS
Amounts falling due after more than one
year

7

(39,996

)

(25,827

)

PROVISIONS FOR LIABILITIES (25,167 ) (23,820 )
NET ASSETS 604,411 464,792

CAPITAL AND RESERVES
Called up share capital 9 20 20
Capital redemption reserve 90 90
Retained earnings 604,301 464,682
SHAREHOLDERS' FUNDS 604,411 464,792

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

J. H. PAYNE & SONS LIMITED (REGISTERED NUMBER: 01905432)

BALANCE SHEET - continued
30 APRIL 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





D W Humphreys - Director


J. H. PAYNE & SONS LIMITED (REGISTERED NUMBER: 01905432)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

J. H. Payne & Sons 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.

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.
Short leasehold - in accordance with the property
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

J. H. PAYNE & SONS LIMITED (REGISTERED NUMBER: 01905432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023 135,562 230,450 66,263 210,621 642,896
Additions - 41,490 - 98,160 139,650
Disposals - - - (118,003 ) (118,003 )
At 30 April 2024 135,562 271,940 66,263 190,778 664,543
DEPRECIATION
At 1 May 2023 135,547 158,612 61,574 156,916 512,649
Charge for year - 11,333 1,162 16,662 29,157
Eliminated on disposal - - - (32,798 ) (32,798 )
At 30 April 2024 135,547 169,945 62,736 140,780 509,008
NET BOOK VALUE
At 30 April 2024 15 101,995 3,527 49,998 155,535
At 30 April 2023 15 71,838 4,689 53,705 130,247

J. H. PAYNE & SONS LIMITED (REGISTERED NUMBER: 01905432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 - 109,133 109,133
Additions 27,500 13,995 41,495
Transfer to ownership - (50,386 ) (50,386 )
At 30 April 2024 27,500 72,742 100,242
DEPRECIATION
At 1 May 2023 - 63,635 63,635
Charge for year (2,750 ) 14,870 12,120
Transfer to ownership - (34,467 ) (34,467 )
At 30 April 2024 (2,750 ) 44,038 41,288
NET BOOK VALUE
At 30 April 2024 30,250 28,704 58,954
At 30 April 2023 - 45,498 45,498

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 469,824 373,038
Amounts recoverable on contract 207,030 145,402
Other debtors 4,050 3,525
680,904 521,965

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 17,253 19,183
Trade creditors 699,423 645,272
Taxation and social security 227,716 144,966
Other creditors 73,942 70,665
1,018,334 880,086

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 39,996 25,827

8. SECURED DEBTS

Hire purchase assets are secured on the assets that they relate to.

J. H. PAYNE & SONS LIMITED (REGISTERED NUMBER: 01905432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
20 20

10. RELATED PARTY DISCLOSURES

At the year end the balance owed to the directors was £5,749 (2023 - £19,528). This amount is interest free and repayable on demand.