Company Registration No. 08160063 (England and Wales)
PATERSON AG LIMITED
Unaudited accounts
for the year ended 31 July 2024
PATERSON AG LIMITED
Unaudited accounts
Contents
PATERSON AG LIMITED
Company Information
for the year ended 31 July 2024
Directors
Luke Patterson
Victoria Patterson
Company Number
08160063 (England and Wales)
Registered Office
Hall Farm
Honing Road
Dilham
North Walsham
NR28 9PN
UK
PATERSON AG LIMITED
Statement of financial position
as at 31 July 2024
Tangible assets
1,805
4,541
Cash at bank and in hand
15,004
17,500
Creditors: amounts falling due within one year
(21,372)
(18,995)
Net current (liabilities)/assets
(3,327)
915
Total assets less current liabilities
(1,522)
5,456
Creditors: amounts falling due after more than one year
(6,742)
(13,877)
Provisions for liabilities
Net liabilities
(9,055)
(9,212)
Called up share capital
100
100
Profit and loss account
(9,155)
(9,312)
Shareholders' funds
(9,055)
(9,212)
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by
Luke Patterson
Director
Company Registration No. 08160063
PATERSON AG LIMITED
Notes to the Accounts
for the year ended 31 July 2024
PATERSON AG LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08160063. The registered office is Hall Farm, Honing Road, Dilham, North Walsham, NR28 9PN, UK.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 July 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant and machinery - 25% reducing balance
Fixtures and fittings - 15% reducing balance
Short-term debtors are measured at transaction price, less any impairment.
Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
PATERSON AG LIMITED
Notes to the Accounts
for the year ended 31 July 2024
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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 accounts. 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.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Tangible fixed assets
Total
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Average number of employees
During the year the average number of employees was 2 (2023: 2).