PAUL ANTHONY FURNISHINGS LTD

PAUL ANTHONY FURNISHINGS LTD - Company Information

2020-04-012021-03-312021-03-31false02299499PAUL ANTHONY FURNISHINGS 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Registered Number
02299499
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 March 2021

PAUL ANTHONY FURNISHINGS LTD

Company Information
for the year from 1 April 2020 to 31 March 2021


Directors	CAMILLERI, Jonathan Joseph
	GARSIDE, Michael Kevin
	HAYES, Peter James
	KEIGHER, Anthony


Registered Address	Care Of Redstone Accountancy
	28 Kansas Avenue
	Salford
	M50 2GL


Place of Business	Bridgewater Mill
	Legh Street
	Eccles
	MAnchester
	M30 0UT


Registered Number	02299499 (England and Wales)

PAUL ANTHONY FURNISHINGS LTD

Balance Sheet as at
31 March 2021

	Notes	2021		2020
		£	£	£	£
Fixed assets
Tangible assets	5		45,453		23,655
			45,453		23,655
Current assets
Stocks	6	15,000		41,409
Debtors	7	302,867		317,116
Cash at bank and on hand		3,878		9,491
		321,745		368,016
Creditors amounts falling due within one year	8	(257,249)		(219,030)
Net current assets (liabilities)			64,496		148,986
Total assets less current liabilities			109,949		172,641
Creditors amounts falling due after one year	9		(14,368)		(4,088)
Net assets			95,581		168,553
Capital and reserves
Called up share capital			204		204
Profit and loss account			95,377		168,349
Shareholders' funds			95,581		168,553

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 19 August 2021, and are signed on its behalf by:

KEIGHER, Anthony
Director
Registered Company No. 02299499

PAUL ANTHONY FURNISHINGS LTD

Notes to the Financial Statements
for the year ended 31 March 2021

1.	STATUTORY INFORMATION
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	ACCOUNTING POLICIES

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Inventories policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leases policy
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

4.	EMPLOYEE INFORMATION

		2021		2020
	Average number of employees during the year	17		17

5.	PROPERTY, PLANT AND EQUIPMENT

	Vehicles £	Fixtures & fittings £	Total £
Cost or valuation
At 01 April 20	43,295	24,122	67,417
Additions	30,765	3,941	34,706
Disposals	(18,580)	-	(18,580)
At 31 March 21	55,480	28,063	83,543
Depreciation and impairment
At 01 April 20	24,511	19,251	43,762
Charge for year	9,682	1,004	10,686
On disposals	(16,358)	-	(16,358)
At 31 March 21	17,835	20,255	38,090
Net book value
At 31 March 21	37,645	7,808	45,453
At 31 March 20	18,784	4,871	23,655

6.	INVENTORIES

		2021 £		2020 £
	Finished goods	15,000		41,409
	Total	15,000		41,409

7.	DEBTORS
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

DEBTORS

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	2021 £	2020 £
Trade debtors / trade receivables	42,778	77,710
Amounts owed by group undertakings	10,135	-
Amounts owed by associates and joint ventures / participating interests	137,508	171,058
Other debtors	112,146	67,376
Prepayments and accrued income	300	972
Total	302,867	317,116

8.	CREDITORS WITHIN ONE YEAR
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	2021 £	2020 £
Trade creditors / trade payables	101,580	82,966
Bank borrowings and overdrafts	50,000	-
Taxation and social security	30,314	59,096
Finance lease and HP contracts	14,343	3,744
Other creditors	61,012	73,224
Total	257,249	219,030

9.	CREDITORS AFTER ONE YEAR

		2021 £		2020 £
	Other creditors	14,368		4,088
	Total	14,368		4,088