P A Michel Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07635346

P A Michel Ltd

Filleted Unaudited Financial Statements

30 April 2025

P A Michel Ltd

Officers and Professional Advisers

Director	P Haddad

Registered office	9 Hamilton Business Park
	Stirling Way
	Borehamwood
	Herts
	WD6 2FR

Accountants	Warners
	Chartered Accountants
	3a The Wenta Business Centre
	Colne Way
	Watford
	WD24 7ND

P A Michel Ltd

Balance Sheet

30 April 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		65,340	39,912

Current assets

Stocks		29,290	41,055
Debtors	6	181,549	29,520
Cash at bank and in hand		245,756	241,488
		---------	---------
		456,595	312,063

Creditors: amounts falling due within one year	7	211,862		223,663
		---------		---------
Net current assets			244,733	88,400
			---------	---------
Total assets less current liabilities			310,073	128,312

Provisions

Taxation including deferred tax	9,994	3,372
	---------	---------
Net assets	300,079	124,940
	---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	300,078	124,939
	---------	---------
Shareholders funds	300,079	124,940
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 May 2026 , and are signed on behalf of the board by:

P Haddad _______________ Director

Company registration number: 07635346

P A Michel Ltd

Notes to the Financial Statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Hamilton Business Park, Stirling Way, Borehamwood, Herts, WD6 2FR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents the value of retail sales made during the period.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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 measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	10% straight line
Computers	-	30% straight line
Equipment	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 10 ).

5. Tangible assets

	Land and buildings	Computer equipment	Equipment	Total
	£	£	£	£
Cost
At 1 May 2024	106,780	2,785	54,522	164,087
Additions	–	1,088	34,169	35,257
Disposals	–	( 370)	–	( 370)
	---------	-------	--------	---------
At 30 April 2025	106,780	3,503	88,691	198,974
	---------	-------	--------	---------
Depreciation
At 1 May 2024	80,359	1,274	42,542	124,175
Charge for the year	1,048	943	7,838	9,829
Disposals	–	( 370)	–	( 370)
	---------	-------	--------	---------
At 30 April 2025	81,407	1,847	50,380	133,634
	---------	-------	--------	---------
Carrying amount
At 30 April 2025	25,373	1,656	38,311	65,340
	---------	-------	--------	---------
At 30 April 2024	26,421	1,511	11,980	39,912
	---------	-------	--------	---------

6. Debtors

	2025	2024
	£	£
Prepayments and accrued income	20,073	16,232
Director's loan account	134,897	–
Deposits paid	12,375	12,375
Other debtors	14,204	913
	---------	--------
	181,549	29,520
	---------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	81,080	82,880
Accruals and deferred income	6,445	11,435
Corporation tax	122,816	64,476
Social security and other taxes	1,098	–
Director loan accounts	–	64,509
Other creditors	423	363
	---------	---------
	211,862	223,663
	---------	---------

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	–	20,624
Later than 1 year and not later than 5 years	65,300	–
	--------	--------
	65,300	20,624
	--------	--------

9. Transactions with directors

During the year dividends of £22,500 (2024: £37,000) were paid to the director. During the year a loan of £135,000 was made to the director and this was fully repaid in the following year.