COMPANY REGISTRATION NUMBER:
09425354
Paul Wilson (ENT) Services Ltd
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Filleted Unaudited Financial Statements
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Paul Wilson (ENT) Services Ltd
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30 April 2022
Fixed assets
Current assets
Debtors
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6
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2,936
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7,297
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Cash at bank and in hand
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21,019
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19,271
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--------
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--------
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23,955
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26,568
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Creditors: amounts falling due within one year
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7
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22,619
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24,569
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--------
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--------
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Net current assets
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1,336
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1,999
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-------
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-------
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Total assets less current liabilities
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1,336
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2,285
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-------
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-------
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Net assets
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1,336
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2,285
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-------
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-------
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Capital and reserves
Called up share capital
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300
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300
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Profit and loss account
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1,036
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1,985
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-------
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-------
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Shareholders funds
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1,336
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2,285
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-------
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-------
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit & loss has not been delivered.
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Paul Wilson (ENT) Services Ltd
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Balance Sheet (continued)
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30 April 2022
These financial statements were approved by the
board of directors
and authorised for issue on
14 October 2022
, and are signed on behalf of the board by:
Company registration number:
09425354
Paul Wilson (ENT) Services Ltd
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Notes to the Financial Statements
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Year ended 30 April 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 King Street, Newcastle-under-Lyme, Staffordshire, ST5 1ER. The company registration number is
09425354
.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
Turnover comprises the value of sales of services provided in the normal course of business. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Computer equipment
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-
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25% straight line
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2021:
1
).
5.
Tangible assets
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Computer equipment
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Total
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£
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£
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Cost
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At 1 May 2021
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4,331
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4,331
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Additions
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2,661
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2,661
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Disposals
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(
6,992)
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(
6,992)
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-------
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At 30 April 2022
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–
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–
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-------
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-------
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Depreciation
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At 1 May 2021
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4,045
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4,045
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Charge for the year
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665
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665
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Disposals
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(
4,710)
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(
4,710)
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-------
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-------
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At 30 April 2022
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–
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–
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-------
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-------
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Carrying amount
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At 30 April 2022
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–
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–
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-------
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-------
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At 30 April 2021
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286
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286
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-------
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-------
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6.
Debtors
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2022
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2021
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£
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£
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Trade debtors
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2,936
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7,297
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-------
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-------
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7.
Creditors:
amounts falling due within one year
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2022
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2021
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£
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£
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Bank loans and overdrafts
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1
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–
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Corporation tax
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1,604
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2,691
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Other creditors
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21,014
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21,878
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22,619
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24,569
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--------
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