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Registration number: 04684864

R W Paxman Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 September 2024

 

R W Paxman Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Abridged Balance Sheet

4 to 5

Notes to the Unaudited Abridged Financial Statements

6 to 7

 

R W Paxman Limited

Company Information

Directors

Ms P O'Toole

Mr RW Paxman

Registered office

3 Durham Street
Portsmouth
Hampshire
PO1 1NA

Accountants

Marshall Havard
Chartered Certified Accountants1 Portland Buildings
Stoke Road
Gosport
Hampshire
PO12 1JH

 

R W Paxman Limited

Directors' Report for the Year Ended 30 September 2024

The directors present their report and the abridged financial statements for the year ended 30 September 2024.

Directors of the company

The directors who held office during the year were as follows:

Ms P O'Toole

Mr RW Paxman

Principal activity

The principal activity of the company is the leasing of vehicles

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 13 June 2025 and signed on its behalf by:
 

.........................................
Ms P O'Toole
Director

.........................................
Mr RW Paxman
Director

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
R W Paxman Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R W Paxman Limited for the year ended 30 September 2024 as set out on pages 4 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of R W Paxman Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of R W Paxman Limited and state those matters that we have agreed to state to the Board of Directors of R W Paxman Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R W Paxman Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R W Paxman Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R W Paxman Limited. You consider that R W Paxman Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of R W Paxman Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Marshall Havard
Chartered Certified Accountants
1 Portland Buildings
Stoke Road
Gosport
Hampshire
PO12 1JH

13 June 2025

 

R W Paxman Limited

(Registration number: 04684864)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

2,153,059

2,437,066

Current assets

 

Debtors

495,945

404,842

Cash at bank and in hand

 

659,083

633,788

 

1,155,028

1,038,630

Creditors: Amounts falling due within one year

285,526

(471,941)

Net current assets

 

1,440,554

566,689

Total assets less current liabilities

 

3,593,613

3,003,755

Accruals and deferred income

 

(3,713)

(3,509)

Net assets

 

3,589,900

3,000,246

Capital and reserves

 

Called up share capital

2

2

Retained earnings

3,589,898

3,000,244

Shareholders' funds

 

3,589,900

3,000,246

For the financial year ending 30 September 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 13 June 2025 and signed on its behalf by:
 

 

R W Paxman Limited

(Registration number: 04684864)
Abridged Balance Sheet as at 30 September 2024 (continued)

.........................................
Ms P O'Toole
Director

.........................................
Mr RW Paxman
Director

 

R W Paxman Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
3 Durham Street
Portsmouth
Hampshire
PO1 1NA

These financial statements were authorised for issue by the Board on 13 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

R W Paxman Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% Reducing Balance Basis

Motor Vehicles

25% Reducing Balance Basis

Computer Equipment

50% Reducing Balance Basis

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Related party transactions

Summary of transactions with other related parties

The company leases vehicles to 486 Limited, a company owned by Mr R W Paxman, the controling shareholder of the company. The amount invoiced in respect of the period was £1,299,311 for vehicles (2023 £1,455,646). The balance owed to RWP Limited at 30 September 2024 was £525,801 (2023 £222,423 was owed to 486 Limited).