Patrick Allen & Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04694261 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

FOR

PATRICK ALLEN & ASSOCIATES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P A Boswell

A P Catton

P R Wright

SECRETARY:

P A Boswell

REGISTERED OFFICE:

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

REGISTERED NUMBER:

04694261 (England and Wales)

ACCOUNTANTS:

Ballams

Chartered Accountants

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

BANKERS:

HSBC

37 The Thoroughfare

Woodbridge

Suffolk

IP12 1AH

FIXED ASSETS

Tangible assets

4

13,511

9,327

CURRENT ASSETS

Stocks

48,660

36,610

Debtors

5

41,935

55,087

Cash at bank

116,879

123,266

207,474

214,963

CREDITORS

Amounts falling due within one year

6

54,367

57,899

NET CURRENT ASSETS

153,107

157,064

TOTAL ASSETS LESS CURRENT LIABILITIES

166,618

166,391

CREDITORS

Amounts falling due after more than one year

7

49,167

-

NET ASSETS

117,451

166,391

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

117,351

166,291

SHAREHOLDERS' FUNDS

117,451

166,391

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2022 and were signed on its behalf by:

P A Boswell - Director

A P Catton - Director

P R Wright - Director

1.	STATUTORY INFORMATION

Patrick Allen & Associates Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Fixtures and fittings

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Government grants

Grants are accounted for using the accrual model.

Grants relating to revenue are recognised in the Statement of Income and Retained Earnings in the same period as the related costs for which the grant is intended to compensate. Where there are no related costs the grant is recognised in the period in which it becomes receivable.

Grants relating to assets are recognised in the Statement of Income and Retained Earnings over the expected useful life of the asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 May 2020

29,169

Additions

7,927

Disposals

(3,996

)

At 30 April 2021

33,100

DEPRECIATION

At 1 May 2020

19,842

Charge for year

3,743

Eliminated on disposal

(3,996

)

At 30 April 2021

19,589

NET BOOK VALUE

At 30 April 2021

13,511

At 30 April 2020

9,327

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

37,064

49,060

Other debtors

4,871

6,027

41,935

55,087

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts (see note 8)

833

-

Trade creditors

2,194

596

Taxation and social security

40,779

51,993

Other creditors

10,561

5,310

54,367

57,899

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans (see note 8)

49,167

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

9,167

-

8.

LOANS

An analysis of the maturity of loans is given below:

2021

2020

£

£

Amounts falling due within one year or on demand:

Bank loans

833

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

10,000

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

30,000

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

9,167

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

40

Ordinary A

£1

40

40

30

Ordinary B

£1

30

30

30

Ordinary C

£1

30

30

100

100