Paul Walton Associates Limited - Accounts to registrar (filleted) - small 18.2
Paul Walton Associates Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 April 2020 |
| for |
| Paul Walton Associates Limited |
| Paul Walton Associates Limited (Registered number: 08605706) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Paul Walton Associates Limited |
| Company Information |
| for the Year Ended 30 April 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 316 Blackpool Road |
| Fulwood |
| Preston |
| Lancashire |
| PR2 3AE |
| Paul Walton Associates Limited (Registered number: 08605706) |
| Statement of Financial Position |
| 30 April 2020 |
| 30.4.20 | 30.4.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Paul Walton Associates Limited (Registered number: 08605706) |
| Statement of Financial Position - continued |
| 30 April 2020 |
| 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 |
| Paul Walton Associates Limited (Registered number: 08605706) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2020 |
| 1. | STATUTORY INFORMATION |
| Paul Walton Associates Limited is a |
| 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 |
| Going Concern |
| Covid-19 |
| On 11 March 2020, the World Health Organisation officially declared COVID-19 as a pandemic. |
| The accounts have been prepared on a going concern basis as although there are indicators of |
| financial impact in relation to COVID-19 the directors have taken what are considered all the necessary |
| measures to protect the business from this to limit any adverse impact. |
| The Directors anticipate the company continuing to trade for the foreseeable future and are monitoring |
| the situation. |
| Income |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable for the services |
| rendered, net of discounts and value added tax. |
| Government grants |
| Government grants are recognised as other income once there is reasonable assurance that all |
| conditions relating to the grant have been attained and that the grant will be received. |
| During the year the company was in receipt of a COVID-19 Small Business Grant. The company was |
| eligible based on its business rates status and therefore the income is recognised on the date of issue |
| of the relief. |
| During the year the company was in receipt of relief in respect of the Coronavirus Job Retention |
| Scheme. The income is recorded based on the claim periods made relating the financial year. |
| Tangible fixed assets depreciation |
| Improvements to property | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Paul Walton Associates Limited (Registered number: 08605706) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | and | Motor | Computer |
| property | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 May 2019 |
| Additions |
| At 30 April 2020 |
| DEPRECIATION |
| At 1 May 2019 |
| Charge for year |
| At 30 April 2020 |
| NET BOOK VALUE |
| At 30 April 2020 |
| At 30 April 2019 |
| The motor vehicles closing net book value of £31,952 relates to an asset held under HP. The |
| depreciation charged for the year was £15,976. |
| Paul Walton Associates Limited (Registered number: 08605706) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Within one year |
| Between one and five years |
| Paul Walton Associates Limited (Registered number: 08605706) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2020 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.4.20 | 30.4.19 |
| £ | £ |
| Hire purchase contracts | 45,773 | 52,980 |
| The obligations under hire purchase agreements are secured against the items of motor vehicles to |
| which they relate. |