00746437falsethat of the manufacture and sale of high quality brass musical instruments and associated products and there was no change in this activity during the year2024-03-012025-02-28http://www.companieshouse.gov.uk/2024-02-29http://www.companieshouse.gov.uk/pt:PlantMachinery2024-02-29http://www.companieshouse.gov.uk/pt:ShareCapital2024-02-29http://www.companieshouse.gov.uk/cd:Director12024-03-012025-02-28http://www.companieshouse.gov.uk/pt:PlantMachinery2025-02-28http://www.companieshouse.gov.uk/pt:ShareCapital2025-02-28http://www.companieshouse.gov.uk/cd:Director22024-03-012025-02-28http://www.companieshouse.gov.uk/pt:FurnitureFittings2024-02-29http://www.companieshouse.gov.uk/pt:CapitalRedemptionReserve2024-02-29http://www.companieshouse.gov.uk/cd:Director32024-03-012025-02-28http://www.companieshouse.gov.uk/pt:ToolsEquipment2024-02-29http://www.companieshouse.gov.uk/pt:FurnitureFittings2025-02-28http://www.companieshouse.gov.uk/pt:CapitalRedemptionReserve2025-02-28http://www.companieshouse.gov.uk/cd:Director42024-03-012025-02-28http://www.companieshouse.gov.uk/pt:ToolsEquipment2025-02-28http://www.companieshouse.gov.uk/pt:PatentsTrademarksLicencesConcessionsSimilar2024-02-29http://www.companieshouse.gov.uk/cd:RegisteredOffice2024-03-012025-02-28http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22024-03-012025-02-28http://www.companieshouse.gov.uk/pt:PatentsTrademarksLicencesConcessionsSimilar2025-02-28http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2024-03-012025-02-28http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2025-02-28http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-02-29http://www.companieshouse.gov.uk/2024-03-012025-02-28http://www.companieshouse.gov.uk/2024-02-29http://www.companieshouse.gov.uk/cd:FRS1022024-03-012025-02-28http://www.companieshouse.gov.uk/2025-02-28http://www.companieshouse.gov.uk/cd:FullAccounts2024-03-012025-02-28http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2024-03-012025-02-28iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 00746437
Paxman Musical Instruments Ltd
ACCOUNTS
FOR THE YEAR ENDED 28/02/2025
Prepared By:
McEwen & Co LTD
Accountants
93 Green Lane
Chichester
West Sussex
PO19 7NU
Paxman Musical Instruments Ltd
ACCOUNTS
FOR THE YEAR ENDED 28/02/2025
DIRECTORS
Timothy Ian Jones
John Charles Rogers
Benjamin Kain
Ian Jackman
REGISTERED OFFICE
Unit A
197 Long Lane
London
England
SE1 4PD
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 00746437
ACCOUNTANTS
McEwen & Co LTD
Accountants
93 Green Lane
Chichester
West Sussex
PO19 7NU
Paxman Musical Instruments Ltd
ACCOUNTS
FOR THEYEARENDED28/02/2025
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Paxman Musical Instruments Ltd
BALANCE SHEET AT 28/02/2025
20252024
Notes££
FIXED ASSETS
Intangible assets2-1,493
Tangible assets324,02927,858
24,02929,351
CURRENT ASSETS
Stock273,474275,159
Debtors5205,544203,848
Cash at bank and in hand110,528103,511
589,546582,518
CREDITORS: Amounts falling due within one year6124,68393,386
NET CURRENT ASSETS464,863489,132
TOTAL ASSETS LESS CURRENT LIABILITIES488,892518,483
CAPITAL AND RESERVES
Called up share capital816,00016,000
Capital redemption reserve9500500
Profit and loss account472,392501,983
SHAREHOLDERS' FUNDS488,892518,483
For the year ending 28/02/2025 the company was entitled to exemption 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 12/09/2025 and signed on their behalf by
.............................
John Charles Rogers
Director
Paxman Musical Instruments Ltd
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28/02/2025
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant And Machineryreducing balance25%
Fixtures And Fittingsreducing balance15%
Equipmentreducing balance25%
1c. Stocks
Stock are valued at the lower of cost and and net realisable value, after due regard for obsolete and slow moving stocks.
1d. Pension Costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
1e. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.
1f. Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.
1g. Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Paxman Musical Instruments Ltd
1h. Hire Purchase And Leasing Commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2. INTANGIBLE FIXED ASSETS
PatentsTotal
££
Cost
At 01/03/202421,35921,359
At 28/02/202521,35921,359
Depreciation
At 01/03/202419,86619,866
For the year1,4931,493
At 28/02/202521,35921,359
Net Book Amounts
At 28/02/2025--
At 29/02/20241,4931,493
3. TANGIBLE FIXED ASSETS
Plant andFixtures
Machineryand FittingsEquipmentTotal
££££
Cost
At 01/03/202410,36559,76424,10194,230
Additions688-4771,165
At 28/02/202511,05359,76424,57895,395
Depreciation
At 01/03/202410,06437,15219,15666,372
For the year2473,3921,3554,994
At 28/02/202510,31140,54420,51171,366
Net Book Amounts
At 28/02/202574219,2204,06724,029
At 29/02/202430122,6124,94527,858
4. STOCK 20252024
££
Stock comprises:
Stock273,474275,159
273,474275,159
Paxman Musical Instruments Ltd
5. DEBTORS 20252024
££
Amounts falling due within one year
Trade debtors175,155173,233
Other debtors30,38930,615
205,544203,848
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20252024
££
UK corporation tax1,7599,259
VAT8,0012,566
PAYE control7,0176,499
Trade creditors99,22561,904
Accruals8,68113,158
124,68393,386
7. EMPLOYEES
20252024
No.No.
Average number of employees1112
8. SHARE CAPITAL 20252024
££
Allotted, issued and fully paid:
16000 Ordinary 'A' of £1 each1600016000
16,00016,000
The ordinary 'A' shares carry no voting rights.
9. OTHER RESERVES 20252024
££
Capital redemption reserve500500
500500
Paxman Musical Instruments Ltd
10. RELATED PARTY TRANSACTIONS
Included in legal & professional fees is an amount of £29,395 (2024: £27,959) paid to Ruddall Carte Ltd , of which Mr J C Rogers is a director.
Included in the purchase of horns and instrument components is an amount of £283,159 (2024: £337,449) paid to Benjamin Kain Zylindermaschinenbau GmbH, of which Mr B Kain is a director.
11. PENSION COMMITMENT
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,409 (2024: £6,889).