3 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 132,738 39,822 13,274 53,096 79,642 92,916 xbrli:pure xbrli:shares iso4217:GBP 13182182 2024-04-01 2025-03-31 13182182 2025-03-31 13182182 2024-03-31 13182182 2023-04-01 2024-03-31 13182182 2024-03-31 13182182 2023-03-31 13182182 core:NetGoodwill 2024-04-01 2025-03-31 13182182 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 13182182 bus:OrdinaryShareClass2 2024-04-01 2025-03-31 13182182 bus:Director1 2024-04-01 2025-03-31 13182182 bus:Director2 2024-04-01 2025-03-31 13182182 core:NetGoodwill 2024-03-31 13182182 core:NetGoodwill 2025-03-31 13182182 core:MotorVehicles 2024-03-31 13182182 core:MotorVehicles 2025-03-31 13182182 core:MotorVehicles 2024-04-01 2025-03-31 13182182 core:WithinOneYear 2025-03-31 13182182 core:WithinOneYear 2024-03-31 13182182 core:AfterOneYear 2025-03-31 13182182 core:AfterOneYear 2024-03-31 13182182 core:ShareCapital 2025-03-31 13182182 core:ShareCapital 2024-03-31 13182182 core:RetainedEarningsAccumulatedLosses 2025-03-31 13182182 core:RetainedEarningsAccumulatedLosses 2024-03-31 13182182 core:NetGoodwill 2024-03-31 13182182 core:MotorVehicles 2024-03-31 13182182 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2025-03-31 13182182 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-03-31 13182182 bus:SmallEntities 2024-04-01 2025-03-31 13182182 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 13182182 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 13182182 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 13182182 bus:FullAccounts 2024-04-01 2025-03-31 13182182 bus:OrdinaryShareClass1 2025-03-31 13182182 bus:OrdinaryShareClass1 2024-03-31 13182182 bus:OrdinaryShareClass2 2025-03-31 13182182 bus:OrdinaryShareClass2 2024-03-31 13182182 bus:AllOrdinaryShares 2025-03-31 13182182 bus:AllOrdinaryShares 2024-03-31
COMPANY REGISTRATION NUMBER: 13182182
PAUL POUNDS GLAZING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2025
PAUL POUNDS GLAZING LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Intangible assets
5
79,642
92,916
Tangible assets
6
65,563
52,951
---------
---------
145,205
145,867
Current assets
Stocks
49,405
67,146
Debtors
7
205,743
238,551
Cash at bank and in hand
11,399
4
---------
---------
266,547
305,701
Creditors: amounts falling due within one year
8
335,150
410,980
---------
---------
Net current liabilities
68,603
105,279
---------
---------
Total assets less current liabilities
76,602
40,588
Creditors: amounts falling due after more than one year
9
57,320
37,162
Provisions
16,391
--------
--------
Net assets
2,891
3,426
--------
--------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
2,791
3,326
-------
-------
Shareholders funds
2,891
3,426
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PAUL POUNDS GLAZING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 6 May 2025 , and are signed on behalf of the board by:
P Pounds
Mrs S Pounds
Director
Director
Company registration number: 13182182
PAUL POUNDS GLAZING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 The Chambers, Vineyard, Abingdon-on-Thames, Oxfordshire.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
132,738
---------
Amortisation
At 1 April 2024
39,822
Charge for the year
13,274
---------
At 31 March 2025
53,096
---------
Carrying amount
At 31 March 2025
79,642
---------
At 31 March 2024
92,916
---------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 April 2024
81,623
2,316
83,939
Additions
40,170
40,170
Disposals
( 28,442)
( 28,442)
--------
-------
--------
At 31 March 2025
93,351
2,316
95,667
--------
-------
--------
Depreciation
At 1 April 2024
29,738
1,250
30,988
Charge for the year
14,993
566
15,559
Disposals
( 16,443)
( 16,443)
--------
-------
--------
At 31 March 2025
28,288
1,816
30,104
--------
-------
--------
Carrying amount
At 31 March 2025
65,063
500
65,563
--------
-------
--------
At 31 March 2024
51,885
1,066
52,951
--------
-------
--------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 March 2025
65,063
--------
At 31 March 2024
51,885
--------
7. Debtors
2025
2024
£
£
Trade debtors
148,424
195,762
Other debtors
57,319
42,789
---------
---------
205,743
238,551
---------
---------
The debtors above include the following amounts falling due after more than one year:
2025
2024
£
£
Other debtors
96
192
----
----
8. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
7,284
Trade creditors
57
Corporation tax
96,682
61,397
Social security and other taxes
42,933
56,289
Other creditors
195,535
285,953
---------
---------
335,150
410,980
---------
---------
9. Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
57,320
37,162
--------
--------
10. Called up share capital
Issued, called up and fully paid
2025
2024
No.
£
No.
£
Ordinary A shares of £ 1 each
51
51
51
51
Ordinary B shares of £ 1 each
49
49
49
49
----
----
----
----
100
100
100
100
----
----
----
----
11. Directors' advances, credits and guarantees
During the year advances were made to the Directors. There were repayments made throughout the year and the amount outstanding at the end of the year was £40,487. Interest was paid to the company by the Directors, using the official interest rate of 2.25%, and the loan is repayable on demand. The directors intend to repay the remainder of the advance before 30 September 2025