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Registered number: 03520028 PAGE & WELLS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 JULY 2025
PAGE & WELLS LIMITED REGISTERED NUMBER: 03520028 BALANCE SHEET AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  |  |  |
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 22,086 |  | 24,708
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 161,826 |  | 280,072 |
Cash at bank and in hand | 7 | 285,887 |  | 205,437 |
|  | 447,713 |  | 485,509 |
Creditors: amounts falling due within one year | 8 | (242,092) |  | (215,032) |
Net current assets |  |  | 205,621 |  | 270,477
Total assets less current liabilities |  |  | 227,707 |  | 295,185
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 | (5,522) |  | (6,177) |
|  |  | (5,522) |  | (6,177)
Net assets |  |  | £222,185 |  | £289,008
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 30,300 |  | 30,300
Capital redemption reserve |  |  | 9,700 |  | 9,700
Profit and loss account |  |  | 182,185 |  | 249,008
|  |  | £222,185 |  | £289,008
Page 1
PAGE & WELLS LIMITED REGISTERED NUMBER: 03520028 BALANCE SHEET (CONTINUED) AS AT 31 JULY 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 April 2026.
................................................ M J D Wills | ................................................ T D Page
Director | Director
................................................ I H Walker Director | ................................................ D M A Wills Director
The notes on pages 3 to 9 form part of these financial statements. Page 2
PAGE & WELLS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | General information
Page & Wells Limited is a private company limited by shares incorporated in England and Wales. The registered office is 52-54 King Street, Maidstone, Kent, ME14 1DB. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Revenue
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax. Revenue not billed to clients is included within debtors and payments on account in excess of the relevant amount of revenue are included in creditors. Fee income that is contingent on events outside the control of the company is recognised when the contingent event occurs. In particular, commission arising in relation to the sale of property is recognised on exchange of contracts, except where legal completion is not concluded within 31 days of the accounting year end.
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Pensions
Defined contribution pension plan 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 payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 3
PAGE & WELLS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.7 | Intangible assets - goodwill
Acquired goodwill is written off in equal instalments over its estimated useful economic life.
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Long-term leasehold property | - | Over the term of the lease
|  |  |  | Plant and machinery | - | 20% on a reducing balance or 33% straight line basis
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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 4
PAGE & WELLS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.9 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.13 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation. Increases in provisions are generally charged as an expense to profit or loss.
| 2.14 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Financial instruments are recognised in the Company's Balance Sheet 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, Page 5
PAGE & WELLS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.14 | Financial instruments (continued)
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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic 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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.15 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 27 (2024 - 26).
Page 6
PAGE & WELLS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
4. | Intangible assets
|  | Goodwill
| Cost |
| At 1 August 2024 | 600,000
| At 31 July 2025 | 600,000
| Amortisation |
| At 1 August 2024 | 600,000
| At 31 July 2025 | 600,000
| Net book value |
| At 31 July 2025 | £-
| At 31 July 2024 | £-
5. | Tangible fixed assets
|  | Long-term leasehold property | Plant and machinery | Total
| Cost or valuation |  |  |
| At 1 August 2024 | 65,500 | 88,792 | 154,292
| Additions | - | 2,851 | 2,851
| At 31 July 2025 | 65,500 | 91,643 | 157,143
| Depreciation |  |  |
| At 1 August 2024 | 65,500 | 64,086 | 129,586
| Charge for the year on owned assets | - | 5,471 | 5,471
| At 31 July 2025 | 65,500 | 69,557 | 135,057
| Net book value |  |  |
| At 31 July 2025 | £- | £22,086 | £22,086
| At 31 July 2024 | £- | £24,707 | £24,707
Page 7
PAGE & WELLS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
| Trade debtors | 77,377 | 104,833
| Other debtors | 11,938 | 97,957
| Prepayments and accrued income | 72,511 | 77,282
|  | £161,826 | £280,072
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
| Cash at bank and in hand | 285,887 | 205,437
|  | £285,887 | £205,437
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
| Trade creditors | 58,575 | 69,196
| Other taxation and social security | 143,099 | 115,962
| Other creditors | 16,988 | 720
| Accruals and deferred income | 23,430 | 29,154
|  | £242,092 | £215,032
Page 8
PAGE & WELLS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
9. | Deferred taxation
|  | 2025
| At beginning of year | (6,177)
| Charged to profit or loss | 655
| At end of year | £(5,522)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
| Accelerated capital allowances | (5,522) | (6,177)
|  | £(5,522) | £(6,177)
10. | Related party transactions
| Three of the company directors are also landlords for two of the properties which the company operates from. Total rent charges of £63,643 have been included in this accounting period.
Page 9