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

REGISTERED NUMBER: 04785807 (England and Wales)

Unaudited Financial Statements

for the Year Ended 5 April 2021

for

Paul Terry Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P G W Terry

Mrs T Terry

SECRETARY:

Mrs T Terry

REGISTERED OFFICE:

Williamston House

7 Goat Street

HAVERFORDWEST

Pembrokeshire

SA61 1PX

REGISTERED NUMBER:

04785807 (England and Wales)

FIXED ASSETS

Tangible assets

4

11,549

13,013

CURRENT ASSETS

Stocks

700

600

Debtors

2,013

1,693

Cash at bank

58,801

47,191

61,514

49,484

CREDITORS

Amounts falling due within one year

3,602

3,500

NET CURRENT ASSETS

57,912

45,984

TOTAL ASSETS LESS CURRENT LIABILITIES

69,461

58,997

PROVISIONS FOR LIABILITIES

2,137

2,402

NET ASSETS

67,324

56,595

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

67,322

56,593

SHAREHOLDERS' FUNDS

67,324

56,595

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 5 April 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 December 2021 and were signed on its behalf by:

P G W Terry - Director

Mrs T Terry - Director

1.	STATUTORY INFORMATION

Paul Terry 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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

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 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 6 April 2020

48,086

Additions

542

At 5 April 2021

48,628

DEPRECIATION

At 6 April 2020

35,073

Charge for year

2,006

At 5 April 2021

37,079

NET BOOK VALUE

At 5 April 2021

11,549

At 5 April 2020

13,013