2023-08-012024-07-312024-07-31false07666541Paul Ravenscroft 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Paul Ravenscroft Limited

Registered Number
07666541
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

Paul Ravenscroft Limited
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

Paul Ravenscroft

Company Secretary

Claire Ravenscroft

Registered Address

774a - 776 Bristol Road
Selly Oak
Birmingham
B29 6NA

Registered Number

07666541 (England and Wales)
Paul Ravenscroft Limited
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets327,87831,908
Tangible assets4121236
27,99932,144
Current assets
Stocks51,8351,720
Debtors66,0963,784
Cash at bank and on hand118,876166,187
126,807171,691
Creditors amounts falling due within one year7(99,814)(120,696)
Net current assets (liabilities)26,99350,995
Total assets less current liabilities54,99283,139
Provisions for liabilities8(23)(115)
Net assets54,96983,024
Capital and reserves
Called up share capital11
Profit and loss account54,96883,023
Shareholders' funds54,96983,024
The financial statements were approved and authorised for issue by the Director on 22 April 2025, and are signed on its behalf by:
Paul Ravenscroft
Director
Registered Company No. 07666541
Paul Ravenscroft Limited
Notes to the Financial Statements
for the year ended 31 July 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).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made. Amortisation Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Asset class Amortisation method and rate Goodwill 5% straight line
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:

Reducing balance (%)
Fixtures and fittings33
Vehicles50
Office Equipment50
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 August 2380,00080,000
At 31 July 2480,00080,000
Amortisation and impairment
At 01 August 2348,09248,092
Charge for year4,0304,030
At 31 July 2452,12252,122
Net book value
At 31 July 2427,87827,878
At 31 July 2331,90831,908
4.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 August 236,9002,5001,00010,400
At 31 July 246,9002,5001,00010,400
Depreciation and impairment
At 01 August 236,6842,4801,00010,164
Charge for year1087-115
At 31 July 246,7922,4871,00010,279
Net book value
At 31 July 2410813-121
At 31 July 2321620-236
5.Stocks

2024

2023

££
Raw materials and consumables1,8351,720
Total1,8351,720
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables6,0962,082
Other debtors-1,702
Total6,0963,784
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables10,53310,055
Amounts owed to related parties73,08085,967
Taxation and social security16,20124,674
Total99,814120,696
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.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)23115
Total23115
9.Related party transactions
At the year end, the Company owed the Director and his wife £73,080 (2023: £85,967). These monies had been advanced on an unsecured, interest free basis, being repayable upon demand.