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REGISTERED NUMBER: 04557028 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Patrick Stephenson Limited

Patrick Stephenson Limited (Registered number: 04557028)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Patrick Stephenson Limited

Company Information
for the Year Ended 31 October 2024







Directors: Mr P J Stephenson
Mrs N C Stephenson





Registered office: Swainsea House
74 Middleton Road
Pickering
North Yorkshire
YO18 8NH





Registered number: 04557028 (England and Wales)





Accountants: Ullyott Limited
6 George Street
Driffield
East Yorkshire
YO25 6RA

Patrick Stephenson Limited (Registered number: 04557028)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,886 15,401
11,886 15,401

CURRENT ASSETS
Debtors 6 27,440 23,528
Cash at bank 8,556 44,459
35,996 67,987
CREDITORS
Amounts falling due within one year 7 24,506 32,377
NET CURRENT ASSETS 11,490 35,610
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,376

51,011

CREDITORS
Amounts falling due after more than one
year

8

20,000

50,000
NET ASSETS 3,376 1,011

CAPITAL AND RESERVES
Called up share capital 9 101 101
Retained earnings 3,275 910
SHAREHOLDERS' FUNDS 3,376 1,011

Patrick Stephenson Limited (Registered number: 04557028)

Balance Sheet - continued
31 October 2024


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

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

The directors acknowledge their 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 income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 May 2025 and were signed on its behalf by:





Mrs N C Stephenson - Director


Patrick Stephenson Limited (Registered number: 04557028)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Patrick Stephenson Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Patrick Stephenson Limited (Registered number: 04557028)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 1,020
AMORTISATION
At 1 November 2023
and 31 October 2024 1,020
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

Patrick Stephenson Limited (Registered number: 04557028)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023
and 31 October 2024 5,482 16,051 10,000 16,357 47,890
DEPRECIATION
At 1 November 2023 5,482 9,721 4,375 12,911 32,489
Charge for year - 1,584 1,406 525 3,515
At 31 October 2024 5,482 11,305 5,781 13,436 36,004
NET BOOK VALUE
At 31 October 2024 - 4,746 4,219 2,921 11,886
At 31 October 2023 - 6,330 5,625 3,446 15,401

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,717 19,814
Other debtors 299 -
Prepayments and accrued income 3,424 3,714
27,440 23,528

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,737 3,785
Corporation tax 9,646 4,215
Social security and other taxes - 332
VAT 7,914 7,678
Directors' current accounts 2,709 14,867
Accruals and deferred income 1,500 1,500
24,506 32,377

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Directors' loan accounts 20,000 50,000

Patrick Stephenson Limited (Registered number: 04557028)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
1 Ordinary B £1 1 1
101 101