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Paul Scaife Associates Limited

Registered Number
08567590
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

Paul Scaife Associates Limited
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Paul Francis Scaife
Sarah Scaife

Registered Address

C/O Saint & Co 4 Mason Court, Gillan Way
Penrith 40 Business Park
Penrith
CA11 9GR

Registered Number

08567590 (England and Wales)
Paul Scaife Associates Limited
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors563,09441,659
Cash at bank and on hand14,99921,500
78,09363,159
Creditors amounts falling due within one year6(67,516)(44,411)
Net current assets (liabilities)10,57718,748
Total assets less current liabilities10,57718,748
Creditors amounts falling due after one year7(7,857)(12,905)
Net assets2,7205,843
Capital and reserves
Called up share capital100100
Profit and loss account2,6205,743
Shareholders' funds2,7205,843
The financial statements were approved and authorised for issue by the Board of Directors on 6 March 2025, and are signed on its behalf by:
Paul Francis Scaife
Director
Sarah Scaife
Director

Registered Company No. 08567590
Paul Scaife Associates Limited
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 July 232,2782,278
At 30 June 242,2782,278
Depreciation and impairment
At 01 July 232,2782,278
At 30 June 242,2782,278
Net book value
At 30 June 24--
At 30 June 23--
4.Impairment of tangible fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables6,000-
Other debtors57,09441,659
Total63,09441,659
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts5,9364,935
Taxation and social security55,33035,725
Accrued liabilities and deferred income6,2503,751
Total67,51644,411
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts7,85712,905
Total7,85712,905
8.Directors advances, credits and guarantees
Included within other debtors falling due within one year is £49,569 (2023 - £29,598) being the amount owed by the director. The net amounts advanced during the year were £19,971. These amounts were both repaid within nine months of the financial year. The loans where charged the official rate of interest were applicable and were repayable on demand.