Paul Radar Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06028561 (England and Wales)

Financial Statements for the Year Ended 31 October 2020

for

Paul Radar Limited

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mr L P Wilder

SECRETARY:

Mrs S L Wilder

REGISTERED OFFICE:

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

REGISTERED NUMBER:

06028561 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Tangible assets

4

99

133

CURRENT ASSETS

Stocks

5

95,532

102,950

Debtors

6

12,543

40,715

Cash at bank

6,462

5,328

114,537

148,993

CREDITORS

Amounts falling due within one year

7

94,502

125,030

NET CURRENT ASSETS

20,035

23,963

TOTAL ASSETS LESS CURRENT LIABILITIES

20,134

24,096

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

20,034

23,996

SHAREHOLDERS' FUNDS

20,134

24,096

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

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

The financial statements were approved by the director and authorised for issue on 15 June 2021 and were signed by:

Mr L P Wilder - Director

1.	STATUTORY INFORMATION

Paul Radar 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.

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

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2019

and 31 October 2020

4,257

DEPRECIATION

At 1 November 2019

4,124

Charge for year

34

At 31 October 2020

4,158

NET BOOK VALUE

At 31 October 2020

99

At 31 October 2019

133

5.

STOCKS

31.10.20

31.10.19

£

£

Finished goods

95,532

102,950

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Trade debtors

12,543

40,181

VAT

-

534

12,543

40,715

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Bank loans and overdrafts (see note 8)

83

-

Trade creditors

(338

)

12,774

Social security and other taxes

-

1,025

Net wages

300

150

VAT

2,270

-

Directors' current accounts

90,287

111,081

Accrued expenses

1,900

-

94,502

125,030

8.

LOANS

An analysis of the maturity of loans is given below:

31.10.20

31.10.19

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

83

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.20

31.10.19

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 November 2019

23,996

Deficit for the year

(3,962

)

At 31 October 2020

20,034