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REGISTERED NUMBER: 04315382 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

J.M. PAINE & S.W. PAINE PROPERTIES
LIMITED

J.M. PAINE & S.W. PAINE PROPERTIES
LIMITED (REGISTERED NUMBER: 04315382)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Balance sheet 1

Notes to the financial statements 2


J.M. PAINE & S.W. PAINE PROPERTIES
LIMITED (REGISTERED NUMBER: 04315382)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
Fixed assets
Investment property 4 200,000 200,000

Current assets
Cash at bank 3,431 4,435

Creditors
Amounts falling due within one year 5 33,816 34,156
Net current liabilities (30,385 ) (29,721 )
Total assets less current liabilities 169,615 170,279

Creditors
Amounts falling due after more than one year 6 (39,564 ) (42,411 )

Provisions for liabilities 8 (13,998 ) (10,639 )
Net assets 116,053 117,229

Capital and reserves
Called up share capital 9 100 100
Fair value reserve 10 95,609 98,968
Retained earnings 20,344 18,161
Shareholders' funds 116,053 117,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2025 and were signed by:





Mr J M Paine - Director


J.M. PAINE & S.W. PAINE PROPERTIES
LIMITED (REGISTERED NUMBER: 04315382)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. Statutory information

J.M. Paine & S.W. Paine Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04315382. The registered office and business address is Inglewood 15 Greenclose Lane, Wimborne, Dorset, BH21 2AL.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Fair value reserve.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

J.M. PAINE & S.W. PAINE PROPERTIES
LIMITED (REGISTERED NUMBER: 04315382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. Investment property
Total
£   
Fair value
At 1 August 2023
and 31 July 2024 200,000
Net book value
At 31 July 2024 200,000
At 31 July 2023 200,000

The investment property was valued at Open Market value in the year ended 31 July 2024 by the director.

The investment property was valued at Open Market value in the year ended 31 July 2024 by the director.

5. Creditors: amounts falling due within one year
2024 2023
£    £   
Tax 512 530
Directors' current accounts 32,190 32,577
Accruals and deferred income 1,114 1,049
33,816 34,156

6. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Other loans more 5yrs non-inst 39,564 42,411

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 39,564 42,411

7. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 39,564 42,411

All monies due to or to become due to Paratus Amc Limited are secured by way of a fixed charge over the property 21A Station Road, Wimborne, Dorset, BH21 1RG, dated 10 May 2018.

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 13,998 10,639

J.M. PAINE & S.W. PAINE PROPERTIES
LIMITED (REGISTERED NUMBER: 04315382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 August 2023 10,639
Charge to Income statement during year 3,359
Balance at 31 July 2024 13,998

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. Reserves
Fair
value
reserve
£   
At 1 August 2023 98,968
Taxation (3,359 )

At 31 July 2024 95,609

As required by FRS102 revaluation gains on investment property have been recognised through the statement of comprehensive income. As these are not realised profits available for distribution, these gains are included within a fair value reserve.

11. Ultimate controlling party

Mr J Paine and Mrs T Paine jointly own the entire share capital and therefore control the company.