REGISTERED NUMBER: 09738878 (England and Wales)

PAUL SHIELDS JOINERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P D Shields

Mrs C Shields

SECRETARY:

Mrs C Shields

REGISTERED OFFICE:

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

REGISTERED NUMBER:

09738878 (England and Wales)

ACCOUNTANTS:

Shah & Co (Accountants) Ltd

Chartered Certified Accountants

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

FIXED ASSETS

Tangible assets

4

50,278

21,230

CURRENT ASSETS

Stocks

1,283

1,792

Debtors

5

22,655

59,210

Cash at bank

197,491

346,664

221,429

407,666

CREDITORS

Amounts falling due within one year

6

(117,586

)

(145,170

)

NET CURRENT ASSETS

103,843

262,496

TOTAL ASSETS LESS CURRENT LIABILITIES

154,121

283,726

CREDITORS

Amounts falling due after more than one year

7

(28,956

)

(858

)

PROVISIONS FOR LIABILITIES

(12,558

)

(5,294

)

NET ASSETS

112,607

277,574

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

112,507

277,474

SHAREHOLDERS' FUNDS

112,607

277,574

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.

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 22 December 2025 and were signed on its behalf by:

Mr P D Shields - Director

1.	STATUTORY INFORMATION

Paul Shields Joinery 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

32,788

29,113

2,315

64,216

Additions

-

47,950

416

48,366

Disposals

-

(13,823

)

-

(13,823

)

At 31 March 2025

32,788

63,240

2,731

98,759

DEPRECIATION

At 1 April 2024

20,949

20,226

1,811

42,986

Charge for year

2,960

14,209

304

17,473

Eliminated on disposal

-

(11,978

)

-

(11,978

)

At 31 March 2025

23,909

22,457

2,115

48,481

NET BOOK VALUE

At 31 March 2025

8,879

40,783

616

50,278

At 31 March 2024

11,839

8,887

504

21,230

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

20,445

29,113

49,558

Additions

-

47,950

47,950

Disposals

-

(13,823

)

(13,823

)

At 31 March 2025

20,445

63,240

83,685

DEPRECIATION

At 1 April 2024

11,122

20,226

31,348

Charge for year

2,331

14,209

16,540

Eliminated on disposal

-

(11,978

)

(11,978

)

At 31 March 2025

13,453

22,457

35,910

NET BOOK VALUE

At 31 March 2025

6,992

40,783

47,775

At 31 March 2024

9,323

8,887

18,210

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

12,111

59,210

Other debtors

10,544

-

22,655

59,210

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts (see note 8)

7,000

9,076

Trade creditors

28,284

52,269

Taxation and social security

12,282

69,908

Other creditors

70,020

13,917

117,586

145,170

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts (see note 8)

28,956

858

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.25

31.3.24

£

£

Gross obligations repayable:

Within one year

8,892

9,796

Between one and five years

36,522

1,662

45,414

11,458

Finance charges repayable:

Within one year

1,892

720

Between one and five years

7,566

804

9,458

1,524

Net obligations repayable:

Within one year

7,000

9,076

Between one and five years

28,956

858

35,956

9,934

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

35,956

9,934

Obligations under hire purchase contracts are secured against the individual assets to which they relate.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £7,198 (2024: £7,867) owed to the directors. The amount is unsecured and interest free with no set terms for repayment.