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JOHN R PALEY ASSOCIATES LIMITED

Registered Number
04224264
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2025

JOHN R PALEY ASSOCIATES LIMITED
Company Information
for the year from 1 June 2024 to 31 May 2025

Directors | PALEY, John Robert
| PALEY, Patricia Linda
| WYNNE, Emma Victoria

Company Secretary | WYNNE, Emma Victoria

Registered Address | 14 Mariner Court
| Durkar
| Wakefield
| WF4 3FL

Registered Number | 04224264 (England and Wales)

JOHN R PALEY ASSOCIATES LIMITED
Statement of Financial Position
31 May 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 5 |  |  | 25,716 |  |  |  | 37,392
|  |  |  | 25,716 |  |  |  | 37,392
Current assets |  |  |  |  |  |  |  |
Debtors | 7 | 476,528 |  |  |  | 478,911 |  |
Cash at bank and on hand |  | 57,134 |  |  |  | 235 |  |
|  | 533,662 |  |  |  | 479,146 |  |
Creditors amounts falling due within one year | 8 | (420,270) |  |  |  | (413,925) |  |
Net current assets (liabilities) |  |  |  | 113,392 |  |  |  | 65,221
Total assets less current liabilities |  |  |  | 139,108 |  |  |  | 102,613
Creditors amounts falling due after one year | 9 |  |  | - |  |  |  | (10,567)
Provisions for liabilities | 10 |  |  | (5,570) |  |  |  | (8,209)
Net assets |  |  |  | 133,538 |  |  |  | 83,837
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 1,000 |  |  |  | 1,000
Profit and loss account |  |  |  | 132,538 |  |  |  | 82,837
Shareholders' funds |  |  |  | 133,538 |  |  |  | 83,837

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 9 September 2025, and are signed on its behalf by:
WYNNE, Emma Victoria Director Registered Company No. 04224264

JOHN R PALEY ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 31 May 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Basis of preparation
--- | ---
| The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

| Functional and presentation currency
--- | ---
| The financial statements are presented in sterling and this is the functional currency of the company.

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

| Employee benefits
--- | ---
| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

| Current taxation
--- | ---
| 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
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Intangible assets
--- | ---
| Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

|  | Reducing balance (%) |  | Straight line (years)
| Fixtures and fittings | 25 |  | -
| Office Equipment | - |  | 4

| Finance leases and hire purchase contracts
--- | ---
| Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

| Stocks and work in progress
--- | ---
| Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

| Financial instruments
--- | ---
| The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 14 |  | 13

3. | Intangible assets
--- | ---

|  | Goodwill |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 June 24 | 625,000 |  | 625,000
| At 31 May 25 | 625,000 |  | 625,000
| Amortisation and impairment
| At 01 June 24 | 625,000 |  | 625,000
| At 31 May 25 | 625,000 |  | 625,000
| Net book value
| At 31 May 25 | - |  | -
| At 31 May 24 | - |  | -

4. | Useful life of intangible assets
--- | ---
| Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of goodwill has been set at 20 years and the asset will be amortised on a straight line basis over that period.

5. | Tangible fixed assets
--- | ---

|  | Fixtures & fittings |  | Office Equipment |  | Total
--- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £
| Cost or valuation
| At 01 June 24 | 247,040 |  | 92,414 |  | 339,454
| Additions | 626 |  | 1,869 |  | 2,495
| At 31 May 25 | 247,666 |  | 94,283 |  | 341,949
| Depreciation and impairment
| At 01 June 24 | 233,636 |  | 68,426 |  | 302,062
| Charge for year | 3,457 |  | 10,714 |  | 14,171
| At 31 May 25 | 237,093 |  | 79,140 |  | 316,233
| Net book value
| At 31 May 25 | 10,573 |  | 15,143 |  | 25,716
| At 31 May 24 | 13,404 |  | 23,988 |  | 37,392

6. | Impairment of tangible fixed assets
--- | ---
| At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

7. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 437,393 |  | 446,289
| Prepayments and accrued income | 39,135 |  | 32,622
| Total | 476,528 |  | 478,911

| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 18,762 |  | 17,463
| Bank borrowings and overdrafts | 10,567 |  | 26,508
| Taxation and social security | 199,955 |  | 142,906
| Other creditors | 179,786 |  | 215,812
| Accrued liabilities and deferred income | 11,200 |  | 11,236
| Total | 420,270 |  | 413,925

| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

9. | Creditors: amounts due after one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | - |  | 10,567
| Total | - |  | 10,567

10. | Provisions for liabilities
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Net deferred tax liability (asset) | 5,570 |  | 8,209
| Total | 5,570 |  | 8,209

11. | Other commitments
--- | ---
| At 31 May 2024 the company had future minimum lease payments under non-cancellable operating leases of £90,087 (2024: £66,994).

12. | Further information regarding the company's financial position
--- | ---
| During the year, dividends were paid of £108,434 (2024: £108,434)