Paul T Webster Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08397496 (England and Wales)

PAUL T WEBSTER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Webster

Ms A Webster

REGISTERED OFFICE:

6-7 Castle Gate

Castle Street

Hertford

Hertfordshire

SG14 1HD

REGISTERED NUMBER:

08397496 (England and Wales)

ACCOUNTANTS:

TC Group

6-7 Castle Gate

Castle Street

Hertford

Hertfordshire

SG14 1HD

FIXED ASSETS

Intangible assets

4

1

1,000

CURRENT ASSETS

Stocks

1,820

750

Debtors

5

6,148

5,548

Cash in hand

523

2,966

8,491

9,264

CREDITORS

Amounts falling due within one year

6

5,780

6,358

NET CURRENT ASSETS

2,711

2,906

TOTAL ASSETS LESS CURRENT LIABILITIES

2,712

3,906

CREDITORS

Amounts falling due after more than one year

7

2,480

3,680

NET ASSETS

232

226

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

132

126

232

226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:

Mr P Webster - Director

1.	STATUTORY INFORMATION

Paul T Webster 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 Profit and Loss Account, 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.

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.

Creditors

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.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

10,000

AMORTISATION

At 1 April 2022

9,000

Amortisation for year

999

At 31 March 2023

9,999

NET BOOK VALUE

At 31 March 2023

1

At 31 March 2022

1,000

Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

(300

)

Other debtors

6,148

5,848

6,148

5,548

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

1,320

1,320

Trade creditors

300

-

Taxation and social security

4,160

5,038

5,780

6,358

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

2,480

3,680

8.	RELATED PARTY DISCLOSURES

During the year, the company loaned Mr Webster (Director) money which was cleared 9 months after date. At the year end the amount due from the Director to the company was £6,148 (2022: £5,848).

Also during the year, the director and shareholder, Mr Webster received dividends from the company in accordance with his shareholding. The total amount received during the year was £15,240 (2021: £20,600).

9.	ULTIMATE CONTROLLING PARTY

During the year Mr PT Webster, director, controlled the company by virtue of a controlling interest of 100% of the issued ordinary share capital.