Company Registration No. 04277435 (England and Wales)
Paul Massey Associates Limited
Unaudited accounts
for the year ended 31 March 2022
Paul Massey Associates Limited
Unaudited accounts
Contents
Paul Massey Associates Limited
Company Information
for the year ended 31 March 2022
Company Number
04277435 (England and Wales)
Registered Office
Unit 10, Highpoint Business Village
Henwood
Ashford
Kent
TN24 8DH
UK
Accountants
Capsa Accounting Ltd
2 The Moorings
Conyer
Sittingbourne
Kent
ME9 9HQ
Paul Massey Associates Limited
Statement of financial position
as at
31 March 2022
Tangible assets
1,123
14,424
Cash at bank and in hand
13,379
6,790
Creditors: amounts falling due within one year
(25,989)
(33,734)
Net current liabilities
(8,244)
(21,403)
Total assets less current liabilities
(7,121)
(6,979)
Creditors: amounts falling due after more than one year
-
(4,472)
Net liabilities
(7,121)
(11,451)
Called up share capital
2
2
Profit and loss account
(7,123)
(11,453)
Shareholders' funds
(7,121)
(11,451)
For the year ending 31 March 2022 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 May 2022 and were signed on its behalf by
Paul Massey
Director
Company Registration No. 04277435
Paul Massey Associates Limited
Notes to the Accounts
for the year ended 31 March 2022
Paul Massey Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 04277435. The registered office is Unit 10, Highpoint Business Village, Henwood, Ashford, Kent, TN24 8DH, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
18% Reducing Balance
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Assets held under hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the agreement at a constant proportion of the outstanding balance of capital repayments.
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
Paul Massey Associates Limited
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2021
504
22,920
4,673
1,192
29,289
Disposals
-
(22,920)
-
-
(22,920)
At 31 March 2022
504
-
4,673
1,192
6,369
At 1 April 2021
203
10,283
3,953
426
14,865
Charge for the year
126
-
240
298
664
On disposals
-
(10,283)
-
-
(10,283)
At 31 March 2022
329
-
4,193
724
5,246
At 31 March 2022
175
-
480
468
1,123
At 31 March 2021
301
12,637
720
766
14,424
5
Debtors: amounts falling due within one year
2022
2021
Accrued income and prepayments
2,761
2,433
Other debtors
1,605
3,108
6
Creditors: amounts falling due within one year
2022
2021
Obligations under finance leases and hire purchase contracts
-
4,472
Taxes and social security
1,922
1,818
Loans from directors
18,946
24,010
7
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
-
4,472
8
Share capital
2022
2021
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Paul Massey Associates Limited
Notes to the Accounts
for the year ended 31 March 2022
9
Operating lease commitments
2022
2021
At 31 March 2022 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
9,909
-
10
Transactions with related parties
Rent is charged for use of the property at £27600 (2021: £24000) by Paul Massey Properties Ltd, a company 100% owned by Paul Massey. Part of this rent at £4000 (2021: £2000) was recharged to Transversus Ltd, a company also 100% owned by Paul Massey.
Paul Massey is the sole director and 100% shareholder.
12
Average number of employees
During the year the average number of employees was 4 (2021: 4).