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REGISTERED NUMBER: 05032629 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

PUFFINS OF EXETER LTD

PUFFINS OF EXETER LTD (REGISTERED NUMBER: 05032629)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


PUFFINS OF EXETER LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: M E Gard
R Taylor
G Fawcett
G L Rolstone





SECRETARY: G Fawcett





REGISTERED OFFICE: 13 Mont Le Grand
Heavitree
Exeter
Devon
EX1 2PD





REGISTERED NUMBER: 05032629 (England and Wales)





ACCOUNTANTS: Sheppard Rockey & Williams Ltd
Sannerville Chase
Exminster
Exeter
Devon
EX6 8AT

PUFFINS OF EXETER LTD (REGISTERED NUMBER: 05032629)

BALANCE SHEET
31 MARCH 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 337,611 334,839
337,611 334,839

CURRENT ASSETS
Stocks 6,000 6,000
Debtors 6 55,033 25,845
Cash at bank and in hand 145,250 92,939
206,283 124,784
CREDITORS
Amounts falling due within one year 7 122,321 136,281
NET CURRENT ASSETS/(LIABILITIES) 83,962 (11,497 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

421,573

323,342

CREDITORS
Amounts falling due after more than one
year

8

(109,227

)

(122,577

)

PROVISIONS FOR LIABILITIES (6,681 ) (5,868 )
NET ASSETS 305,665 194,897

CAPITAL AND RESERVES
Called up share capital 11 250 250
Retained earnings 305,415 194,647
SHAREHOLDERS' FUNDS 305,665 194,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

PUFFINS OF EXETER LTD (REGISTERED NUMBER: 05032629)

BALANCE SHEET - continued
31 MARCH 2025


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2025 and were signed on its behalf by:




M E Gard - Director



R Taylor - Director


PUFFINS OF EXETER LTD (REGISTERED NUMBER: 05032629)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Puffins of Exeter Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the invoiced value of services supplied by the company.

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.
Short leasehold - 10% on cost
Equipment - 25% on reducing balance
Furniture & fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Fire & Safety Work - 15% on reducing balance

Freehold property is not depreciated since in the opinion of the directors the amount would be immaterial owing to the residual value of the property. This is a departure from Financial Reporting Standard 102 1A (the requirement to depreciate an asset over its useful economic life).

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


PUFFINS OF EXETER LTD (REGISTERED NUMBER: 05032629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The accounts have been prepared on the going concern basis. In the opinion of the directors adequate finance will be available to enable the company to continue trading for at least twelve months after the date of the approval of these accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 94 (2024 - 99 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 2,015,000
AMORTISATION
At 1 April 2024
and 31 March 2025 2,015,000
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

PUFFINS OF EXETER LTD (REGISTERED NUMBER: 05032629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

5. TANGIBLE FIXED ASSETS
Freehold Short
property leasehold Equipment
£    £    £   
COST
At 1 April 2024 307,533 57,875 288,436
Additions - - 12,752
At 31 March 2025 307,533 57,875 301,188
DEPRECIATION
At 1 April 2024 - 57,875 267,089
Charge for year - - 8,539
At 31 March 2025 - 57,875 275,628
NET BOOK VALUE
At 31 March 2025 307,533 - 25,560
At 31 March 2024 307,533 - 21,347

Fire &
Furniture Motor Safety
& fittings vehicles Work Totals
£    £    £    £   
COST
At 1 April 2024 97,855 21,467 12,542 785,708
Additions - - - 12,752
At 31 March 2025 97,855 21,467 12,542 798,460
DEPRECIATION
At 1 April 2024 95,929 17,944 12,032 450,869
Charge for year 484 881 76 9,980
At 31 March 2025 96,413 18,825 12,108 460,849
NET BOOK VALUE
At 31 March 2025 1,442 2,642 434 337,611
At 31 March 2024 1,926 3,523 510 334,839

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 500 2,500
Other debtors 54,533 23,345
55,033 25,845

PUFFINS OF EXETER LTD (REGISTERED NUMBER: 05032629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts 22,645 22,645
Trade creditors 25,278 3,685
Taxation and social security 49,353 25,603
Other creditors 25,045 84,348
122,321 136,281

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Bank loans 109,227 122,577

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 18,646 31,996

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.25 31.3.24
£    £   
Within one year 86,834 58,200
Between one and five years 335,000 180,167
In more than five years 108,333 -
530,167 238,367

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.25 31.3.24
£    £   
Bank loans 131,872 145,222

The loan is secured by a fixed charge on the company's freehold property. This charge was created on 19 August 2022 in favour of National Westminster Bank Plc.

In addition, for the benefit of the company, and in the interests of the company for the purpose of carrying on its business, a debenture to secure all the liabilities of the company to National Westminster Bank Plc was created on 29 March 2004.

PUFFINS OF EXETER LTD (REGISTERED NUMBER: 05032629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

11. CALLED UP SHARE CAPITAL

Allotted issued and fully paid:
Number: Class Nominal Value 31.3.25 31.3.24
£    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
50 C Ordinary £1 50 50
50 D Ordinary £1 50 50
25 E Ordinary £1 25 25
25 F Ordinary £1 25 25
250 250

The C D E and F Ordinary shares are non-voting

12. RELATED PARTY DISCLOSURES

Included in other creditors falling due within one year are loan accounts from directors with participating interests in the shares of the company of £21,925 (2024: £78,228). The loans are interest free, unsecured and repayable on demand.