Pavemac Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05817675 (England and Wales)

Pavemac Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

Notes to the financial statements

5

Director:

J F Finn

Registered office:

Eastwood End

Wimblington

March

Cambridgeshire

PE15 0QH

Registered number:

05817675 (England and Wales)

Accountants:

Moore Thompson

Monica House

St Augustines Road

Wisbech

Cambridgeshire

PE13 3AD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Director's report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pavemac Limited for the year ended 31 December 2023 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Pavemac Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pavemac Limited and state those matters that we have agreed to state to the director of Pavemac Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pavemac Limited and its director for our work or for this report.

It is your duty to ensure that Pavemac Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pavemac Limited. You consider that Pavemac Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pavemac Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

Monica House

St Augustines Road

Wisbech

Cambridgeshire

PE13 3AD

29 May 2024

Fixed assets

Tangible assets

5

25,394

37,120

Current assets

Stocks

761,942

908,737

Debtors

6

182,928

175,195

Cash at bank and in hand

155,460

44,032

1,100,330

1,127,964

Creditors

Amounts falling due within one year

7

546,312

387,553

Net current assets

554,018

740,411

Total assets less current liabilities

579,412

777,531

Creditors

Amounts falling due after more than one year

8

(200,000

)

(385,000

)

Provisions for liabilities

(19,431

)

(19,553

)

Net assets

359,981

372,978

Capital and reserves

Called up share capital

1,144

1,144

Retained earnings

358,837

371,834

Shareholders' funds

359,981

372,978

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 May 2024 and were signed by:

J F Finn - Director

1.	Statutory information

Pavemac 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.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

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

-

Straight line over 30 years

Fixtures and fittings

-

15% on a straight line basis

Motor vehicles

-

Straight line over 30 years

Computer equipment

-

15% on a straight line basis

Stocks

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

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	Employees and directors

The average number of employees during the year was 8 (2022 - 15 ) .

5.	Tangible fixed assets

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 January 2023

83,603

46,750

80,307

51,201

261,861

Additions

4,249

-

-

-

4,249

Disposals

(16,699

)

-

(12,984

)

-

(29,683

)

At 31 December 2023

71,153

46,750

67,323

51,201

236,427

Depreciation

At 1 January 2023

75,607

46,454

55,890

46,790

224,741

Charge for year

3,906

296

9,928

1,845

15,975

Eliminated on disposal

(16,699

)

-

(12,984

)

-

(29,683

)

At 31 December 2023

62,814

46,750

52,834

48,635

211,033

Net book value

At 31 December 2023

8,339

-

14,489

2,566

25,394

At 31 December 2022

7,996

296

24,417

4,411

37,120

6.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

87,296

36,418

Other debtors

95,632

138,777

182,928

175,195

7.

Creditors: amounts falling due within one year

2023

2022

£

£

Trade creditors

339,969

76,950

Tax

6,176

9,546

Social security and other taxes

9,746

10,434

VAT

50,744

32,485

Other creditors

1,638

2,000

Directors' loan accounts

-

4,558

Accruals and deferred income

138,039

251,580

546,312

387,553

8.

Creditors: amounts falling due after more than one year

2023

2022

£

£

Other creditors

200,000

385,000

9.	Secured debts

The following secured debts are included within creditors:

2023

2022

£

£

Other creditors

200,000

385,000

10.	Related party disclosures

During the year the director made a loan to the company. The loan was unsecured, interest free and repayable on demand. The balance owed at the year end was £0. (2022 £4,558 )