Company registration number 07525931 (England and Wales)
R & L PAUL LTD
Unaudited financial statements
For the year ended 31 May 2025
Pages for filing with registrar
R & L PAUL LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
R & L PAUL LTD
STATEMENT OF FINANCIAL POSITION
As at 31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
59,703
81,935
Investment property
4
720,000
760,000
779,703
841,935
Current assets
Inventories
2,500
2,500
Trade and other receivables
5
110,688
109,419
Cash and cash equivalents
761,617
627,097
874,805
739,016
Current liabilities
6
(127,398)
(143,651)
Net current assets
747,407
595,365
Total assets less current liabilities
1,527,110
1,437,300
Provisions for liabilities
7
(15,873)
(30,611)
Net assets
1,511,237
1,406,689
Equity
Called up share capital
8
100
100
Retained earnings
9
1,511,137
1,406,589
Total equity
1,511,237
1,406,689

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on
16 February 2026
16 February 2026
and are signed on its behalf by:
D R Gregory
K D Gregory
Director
Director
Company registration number 07525931 (England and Wales)
R & L PAUL LTD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 May 2025
- 2 -
1
Accounting policies
Company information

R & L Paul Ltd is a private company limited by shares incorporated in England and Wales. The registered office is R & L House, 2 Redmead Road, Hayes, Middlesex, UB3 4AU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost less depreciation and less any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance per annum
Fixtures, fittings & equipment
25% reducing balance per annum
Motor vehicles
25% reducing balance per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

R & L PAUL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 May 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised 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 calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

R & L PAUL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 May 2025
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
7
6
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 June 2024
168,093
Additions
2,564
Disposals
(11,600)
At 31 May 2025
159,057
Depreciation and impairment
At 1 June 2024
86,158
Depreciation charged in the year
19,902
Eliminated in respect of disposals
(6,706)
At 31 May 2025
99,354
Carrying amount
At 31 May 2025
59,703
At 31 May 2024
81,935
4
Investment property
2025
£
Fair value
At 1 June 2024
760,000
Revaluations
(40,000)
At 31 May 2025
720,000
R & L PAUL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 May 2025
- 5 -
5
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
64,735
70,689
Other receivables
45,953
38,730
110,688
109,419
6
Current liabilities
2025
2024
£
£
Trade payables
29,114
38,202
Corporation tax
50,094
18,025
Other taxation and social security
7,870
18,940
Other payables
40,320
68,484
127,398
143,651
7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
15,873
30,611
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Retained earnings

Retained earnings includes distributable profits of £1,508,297 (2024 - £1,373,749) and non-distributable profits of £2,840 (2024 - £32,840). The non-distributable profits includes the unrealised gains and losses relating to the investment properties fair value movements less the deferred tax provision on these fair value movements.

10
Directors' transactions

During the year, the company paid rent amounting to £24,000 (20 2 4 - £24,000) to one of the directors of the company.

At the start of the year one of the directors owed the company £7,083. The advance was interest free and unsecured and was repaid in February 2025.

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