Paben Windows Limited 31/08/2020 iXBRL
Paben Windows Limited 31/08/2020 iXBRL
Company registration number:
03764905
Contents
Statement of financial position
Notes to the financial statements
Statement of financial position
31 August 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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_______ | _______ | ||||||||
Net current assets |
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 9 |
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Provisions for liabilities |
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
15 March 2021
, and are signed on behalf of the board by:
Director
Director
Company registration number:
03764905
Notes to the financial statements
Year ended 31 August 2020
1.
General information
Paben Windows Limited (Company number
03764905
) is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Albion Place, Maidstone, Kent, ME14 5DY.
2.
Statement of compliance
3.
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from services rendered are recognised when the significant risks and rewards of ownership have transferred to the customer. Services rendered are in the form of supply and installation of windows.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Taxation
Operating leases
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
Plant and machinery | - |
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Fittings fixtures and equipment | - |
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Motor vehicles | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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 and other costs incurred in bringing the stocks to their present location and condition. Stocks for
Paben Windows Limited
are in the form of small parts which are held for the installation of windows.
Provisions
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2019:
9
).
5.
Tangible assets
Short leasehold property | Plant and machinery | Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | £ | £ | ||
Cost | ||||||
At 1 September 2019 |
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_______ | _______ | _______ | _______ | _______ | ||
Depreciation | ||||||
At 1 September 2019 |
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Charge for the year | - |
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_______ | _______ | _______ | _______ | _______ | ||
At 31 August 2020 |
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_______ | _______ | _______ | _______ | _______ | ||
Carrying amount | ||||||
At 31 August 2020 | - |
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_______ | _______ | _______ | _______ | _______ | ||
At 31 August 2019 | - |
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_______ | _______ | _______ | _______ | _______ | ||
6.
Stocks
2020 | 2019 | |||
£ | £ | |||
Raw materials |
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Work in progress |
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_______ | _______ | |||
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_______ | _______ | |||
7.
Debtors
2020 | 2019 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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_______ | _______ | |||
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_______ | _______ | |||
The debtors above include the following amounts falling due after more than one year:
2020 | 2019 | |||
£ | £ | |||
Other debtors | - |
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_______ | _______ | |||
8.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
164,344 | 239,751 | |||
_______ | _______ | |||
9.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Other creditors |
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- | ||
_______ | _______ | |||
10.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ | £ | |
Not later than 1 year |
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Later than 1 year and not later than 5 years |
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_______ | _______ | |
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_______ | _______ | |