Company registration number 10301728 (England and Wales)
POULTER FAMILY RESTORATIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
POULTER FAMILY RESTORATIONS LIMITED
COMPANY INFORMATION
Director
Gregg Poulter
Company number
10301728
Registered office
Edinburgh House
1-5 Bellevue Road
Clevedon
Somerset
Wales
BS21 7NP
Accountants
Xeinadin South Wales & West Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT
POULTER FAMILY RESTORATIONS LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
POULTER FAMILY RESTORATIONS LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JULY 2024
- 1 -

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

POULTER FAMILY RESTORATIONS LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
179,250
160,515
Investment property
4
735,137
735,137
914,387
895,652
Current assets
Debtors
5
121,534
293,124
Cash at bank and in hand
132,104
27,302
253,638
320,426
Creditors: amounts falling due within one year
6
(1,073,811)
(1,137,912)
Net current liabilities
(820,173)
(817,486)
Total assets less current liabilities
94,214
78,166
Creditors: amounts falling due after more than one year
7
(20,397)
(7,075)
Net assets
73,817
71,091
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
73,717
70,991
Total equity
73,817
71,091
POULTER FAMILY RESTORATIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 3 -

For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 3 April 2025
Gregg Poulter
Director
Company registration number 10301728 (England and Wales)
POULTER FAMILY RESTORATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
1
Accounting policies
Company information

Poulter Family Restorations Limited is a private company limited by shares incorporated in England and Wales. The registered office is Edinburgh House, 1-5 Bellevue Road, Clevedon, Somerset, Wales, BS21 7NP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation
Plant and equipment
25% on reducing balance
Fixtures and fittings
20% on cost
Computers
33.33% on cost
Motor vehicles
25% on reducing balance

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.

POULTER FAMILY RESTORATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.6
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
POULTER FAMILY RESTORATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2023
27,352
159,764
187,116
Additions
-
0
52,535
52,535
At 31 July 2024
27,352
212,299
239,651
Depreciation and impairment
At 1 August 2023
1,731
24,870
26,601
Depreciation charged in the year
3,843
29,957
33,800
At 31 July 2024
5,574
54,827
60,401
Carrying amount
At 31 July 2024
21,778
157,472
179,250
At 31 July 2023
25,621
134,894
160,515
4
Investment property
2024
£
Fair value
At 1 August 2023 and 31 July 2024
735,137
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
99,742
175,534
Amounts owed by group undertakings
-
0
53,973
Other debtors
21,792
63,617
121,534
293,124
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
44,922
61,112
Amounts owed to group undertakings
7,381
-
0
Taxation and social security
7,612
-
0
Other creditors
1,013,896
1,076,800
1,073,811
1,137,912
POULTER FAMILY RESTORATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
20,397
7,075
8
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
16,464
5,948
In two to five years
20,397
7,075
36,861
13,023

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
100
100
100
100
10
Related party transactions

During the period the company made loans to a related company under common ownership, and whom owns a minority

shareholding in the company. As at the balance sheet date the company was owed £7,381. No interest is being charged on this balance.

The company also undertook various repair, maintenance and refurbishment works on properties owned personally by Mr G Poulter. During the period these amounted to £15,283 (2023: £18,645). These are deemed to have taken place at arms length.

The company also undertook various repair, maintenance and refurbishment works for properties owned by the above associated company. During the period these amounted to £248,379 (2023: £331,060). These are deemed to have taken place at arms length.

Finally, during this period the company leased commercial premises from the associated company. The rent charged in the period was £52,500 (2023: £35,000).

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