REGISTERED NUMBER: 03683564 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

JAMES PAUL (CAR SALES) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D T Parker

SECRETARY:

J Parker

REGISTERED OFFICE:

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

REGISTERED NUMBER:

03683564 (England and Wales)

FIXED ASSETS

Tangible assets

4

310,778

273,756

CURRENT ASSETS

Stocks

1,199,944

1,132,699

Debtors

5

33,484

27,328

Cash at bank and in hand

295,456

234,393

1,528,884

1,394,420

CREDITORS

Amounts falling due within one year

6

268,313

260,643

NET CURRENT ASSETS

1,260,571

1,133,777

TOTAL ASSETS LESS CURRENT LIABILITIES

1,571,349

1,407,533

CREDITORS

Amounts falling due after more than one year

7

(60,495

)

(53,211

)

PROVISIONS FOR LIABILITIES

8

-

(2,021

)

NET ASSETS

1,510,854

1,352,301

CAPITAL AND RESERVES

Called up share capital

9

300

300

Retained earnings

1,510,554

1,352,001

SHAREHOLDERS' FUNDS

1,510,854

1,352,301

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 October 2025 and were signed by:

D T Parker - Director

1.	STATUTORY INFORMATION

James Paul (Car Sales) Limited 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

Revenue is measured at fair value of the consideration received or receivable. Revenue represents amounts receivable from selling vehicles.

Revenue is recognised when the vehicles are sold and legal title has passed.

Workshop revenue represents amounts received from vehicle repairs and maintenance.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Short leasehold

-

10% to 25% on cost

Tenant's improvements

-

10% to 25% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Tenant's

property

leasehold

improvements

£

£

£

COST

At 1 May 2024

165,391

32,335

73,477

Additions

-

-

2,283

At 30 April 2025

165,391

32,335

75,760

DEPRECIATION

At 1 May 2024

10,548

32,335

50,999

Charge for year

703

-

4,661

At 30 April 2025

11,251

32,335

55,660

NET BOOK VALUE

At 30 April 2025

154,140

-

20,100

At 30 April 2024

154,843

-

22,478

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 May 2024

54,606

51,063

121,000

497,872

Additions

1,067

1,028

66,750

71,128

At 30 April 2025

55,673

52,091

187,750

569,000

DEPRECIATION

At 1 May 2024

51,724

39,067

39,443

224,116

Charge for year

2,547

4,433

21,762

34,106

At 30 April 2025

54,271

43,500

61,205

258,222

NET BOOK VALUE

At 30 April 2025

1,402

8,591

126,545

310,778

At 30 April 2024

2,882

11,996

81,557

273,756

Included in cost of land and buildings is freehold land of £ 130,223 (2024 - £ 130,223 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2024

118,000

Additions

66,750

At 30 April 2025

184,750

DEPRECIATION

At 1 May 2024

37,006

Charge for year

21,621

At 30 April 2025

58,627

NET BOOK VALUE

At 30 April 2025

126,123

At 30 April 2024

80,994

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

367

4,984

Other debtors

33,117

22,344

33,484

27,328

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

28,422

20,893

Trade creditors

100,394

82,582

Taxation and social security

132,521

97,147

Other creditors

6,976

60,021

268,313

260,643

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

60,495

53,211

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

-

2,021

Deferred

tax

£

Balance at 1 May 2024

2,021

Credit to Statement of Income and Retained Earnings during year

(2,021

)

Balance at 30 April 2025

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

300

Ordinary shares

£1

300

300