Registered Number:06295741 |
For the year ended 30 June 2024
England and Wales
Unaudited Financial Statements
For the year ended 30 June 2024
Paul Kenton Limited
Contents Page
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Statement of Financial Position
3 to 7
Notes to the Financial Statements
Paul Kenton Limited
Statement of Financial Position
2023
2024
16,478
17,975
2
Property, plant and equipment |
1,078,922
1,121,189
3
4
354,723
363,307
1,450,123
1,502,471
62,170
58,042
5
Trade and other receivables |
66,834
207,504
6
135,198
Cash and cash equivalents |
664,120
929,666
264,202
Trade and other payables: amounts falling due within |
one year |
(184,232)
(417,366)
7
79,970
512,300
Net current assets
Total assets less current liabilities |
1,962,423
1,582,441
Trade and other payables: amounts falling due after |
more than one year |
(264,211)
(9,164)
8
(24,835)
(4,391)
Provisions for liabilities |
1,928,424
Net assets
1,313,839
2
2
1,928,422
1,313,837
1,928,424
1,313,839
Shareholders' funds
For the year ended 30 June 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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For the year ended 30 June 2024
Paul Kenton Limited
Statement of Financial Position Continued
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 21 February 2025 and were signed by: |
The notes form part of these financial statements |
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For the year ended 30 June 2024
Paul Kenton Limited
Notes to the Financial Statements
Statutory Information
Paul Kenton Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 06295741. |
Lower Whitestone
Courtledge
Lincombe
Lee, Devon
EX34 8LN
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic |
of Ireland' and the Companies Act 2006. The financial statements have been prepared under the |
historical costs convention as modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of 10 years from 1 July 2015 in accordance with FRS 102. |
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Property (studio)
Fixtures fittings & equipment
Vehicles
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For the year ended 30 June 2024
Paul Kenton Limited
Notes to the Financial Statements Continued
Investment property
Investment property is shown at its current market value as provided by the director. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss. |
Government grants
Government grants are reported on an accruals basis. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis. |
2. Intangible fixed assets |
Goodwill
36,000
60,958
24,958
10,355
-
10,355
71,313
36,000
35,313
42,983
29,952
13,031
11,852
3,024
8,828
Charge for year
54,835
32,976
21,859
16,478
3,024
13,454
6,048
11,927
17,975
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For the year ended 30 June 2024
Paul Kenton Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment |
Vehicles
Fixtures |
fittings & |
equipment |
1,274,519
69,319
109,982
1,095,218
113,750
-
113,750
-
(86,675)
-
-
(86,675)
1,008,543
223,732
69,319
1,301,594
Provision for depreciation and impairment |
153,330
17,330
86,185
49,815
Charge for year
69,342
21,662
27,509
20,171
222,672
38,992
113,694
69,986
938,557
110,038
30,327
1,078,922
1,045,403
23,797
51,989
1,121,189
429,179
429,179
65,872
8,584
74,456
354,723
363,307
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For the year ended 30 June 2024
Paul Kenton Limited
Notes to the Financial Statements Continued
2023
2024
58,042
62,170
Inventories are valued at the lower of cost and selling price less costs to complete and sell. Cost is defined as the actual cost of materials. Provision is made for obsolete and slow-moving items. In respect of work in progress this is the percentage of any sales contract that has been completed within the year but invoiced after the year end and is based on the sales invoice total. |
6. Trade and other receivables |
2023
2024
199,213
61,032
8,291
5,802
66,834
207,504
The debtors above include the following amounts falling due after more than one year: |
-
(55,962)
7. Trade and other payables: amounts falling due within one year |
2023
2024
Bank loans and overdraft (secured) |
10,001
(85,171)
722
9,582
Amounts owed to group undertaking and undertaking in which |
the company has a participating interest |
-
116,143
Taxation and social security |
334,873
18,924
71,770
124,754
417,366
184,232
8. Trade and other payables: amounts falling due after more than one year |
2023
2024
Bank loans and overdraft (secured) |
9,164
264,211
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For the year ended 30 June 2024
Paul Kenton Limited
Notes to the Financial Statements Continued
9. Related party transactions |
Transactions with directors |
The director's current account for the year: |
as at 1 April 2023 Received Withdrawn as at 31 March 2024 |
27,075 346,286 319,550 53.811 |
The director's current account did go overdrawn for a short period in the year and interest of £388 (2023 |
£496) has been paid lto the company. |
The director Paul Kenton has controlling interest in the company by way of his 100% shareholding. |
10. Guarantees and other financial commitments |
The pension commitments are those required through auto enrolement, there are no other pension |
schemes in place. |
Pension commitments
11. Average number of persons employed |
During the year the average number of employees was 6 (2023 : 7)
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