Paul Downing Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08031735 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Paul Downing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

6

DIRECTOR:

P C Downing

REGISTERED OFFICE:

23 Carlton Road

Headley Down

Bordon

Hampshire

GU35 8JW

REGISTERED NUMBER:

08031735 (England and Wales)

ACCOUNTANTS:

Henderson-Smith Associates Limited

5 Granville Close

Havant

Hampshire

PO9 2TR

FIXED ASSETS

Tangible assets

4

1,901

285

CURRENT ASSETS

Debtors

5

15,092

8,700

Cash at bank and in hand

103,370

110,010

118,462

118,710

CREDITORS

Amounts falling due within one year

6

21,615

15,135

NET CURRENT ASSETS

96,847

103,575

TOTAL ASSETS LESS CURRENT LIABILITIES

98,748

103,860

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

98,648

103,760

SHAREHOLDERS' FUNDS

98,748

103,860

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 April 2020 and were signed by:

P C Downing - Director

1.	STATUTORY INFORMATION

Paul Downing Ltd 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.

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.

Computer equipment

-

20% on reducing balance

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.

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 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2019

1,130

Additions

2,091

At 31 March 2020

3,221

DEPRECIATION

At 1 April 2019

845

Charge for year

475

At 31 March 2020

1,320

NET BOOK VALUE

At 31 March 2020

1,901

At 31 March 2019

285

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

5,395

8,700

Other debtors

9,697

-

15,092

8,700

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Taxation and social security

21,365

14,864

Other creditors

250

271

21,615

15,135

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2019

103,760

Profit for the year

44,388

Dividends

(49,500

)

At 31 March 2020

98,648

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and

31 March 2019:

31.3.20

31.3.19

£

£

P C Downing

Balance outstanding at start of year

-

-

Amounts advanced

9,697

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,697

-

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P C Downing.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2020 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Henderson-Smith Associates Limited

5 Granville Close

Havant

Hampshire

PO9 2TR

23 April 2020