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Company No: 08821159 (England and Wales)

PAUL FOSTER INTERIORS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

PAUL FOSTER INTERIORS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

PAUL FOSTER INTERIORS LTD

COMPANY INFORMATION

For the financial year ended 31 March 2025
PAUL FOSTER INTERIORS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025
DIRECTORS Paul Foster
Christine Foster
REGISTERED OFFICE United Kingdom
COMPANY NUMBER 08821159 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
PAUL FOSTER INTERIORS LTD

BALANCE SHEET

As at 31 March 2025
PAUL FOSTER INTERIORS LTD

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 31,510 0
31,510 0
Current assets
Debtors 4 370,280 179,486
Cash at bank and in hand 5 179,635 92,445
549,915 271,931
Creditors: amounts falling due within one year 6 ( 297,997) ( 120,820)
Net current assets 251,918 151,111
Total assets less current liabilities 283,428 151,111
Creditors: amounts falling due after more than one year 7 ( 23,583) ( 8,816)
Provision for liabilities 8 ( 7,877) 0
Net assets 251,968 142,295
Capital and reserves
Called-up share capital 9 10 10
Profit and loss account 251,958 142,285
Total shareholders' funds 251,968 142,295

For the financial 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 financial statements of Paul Foster Interiors Ltd (registered number: 08821159) were approved and authorised for issue by the Board of Directors on 22 May 2025. They were signed on its behalf by:

Paul Foster
Director
PAUL FOSTER INTERIORS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
PAUL FOSTER INTERIORS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Paul Foster Interiors Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is , United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 April 2024 0 0 0
Additions 417 34,755 35,172
At 31 March 2025 417 34,755 35,172
Accumulated depreciation
At 01 April 2024 0 0 0
Charge for the financial year 42 3,620 3,662
At 31 March 2025 42 3,620 3,662
Net book value
At 31 March 2025 375 31,135 31,510
At 31 March 2024 0 0 0

4. Debtors

2025 2024
£ £
Trade debtors 160,871 5,158
Other debtors 209,409 174,328
370,280 179,486

5. Cash and cash equivalents

2025 2024
£ £
Cash at bank and in hand 179,635 92,445

6. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 7,396 7,399
Trade creditors 86,129 42,090
Taxation and social security 138,558 58,494
Obligations under finance leases and hire purchase contracts 3,882 0
Other creditors 62,032 12,837
297,997 120,820

7. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans 1,597 8,816
Obligations under finance leases and hire purchase contracts 21,986 0
23,583 8,816

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

2025 2024
£ £
At the beginning of financial year 0 0
Charged to the Statement of Income and Retained Earnings ( 7,877) 0
At the end of financial year ( 7,877) 0

9. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10