Paul Herron Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11845877 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021

FOR

PAUL HERRON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Herron

REGISTERED OFFICE:

Chapel Cottage

Park Corner

Nettlebed

Henley-On-Thames

RG9 6DR

REGISTERED NUMBER:

11845877 (England and Wales)

ACCOUNTANTS:

KNIGHT WHEELER LIMITED

Chartered Accountants

54 Sun Street

Waltham Abbey

Essex

EN9 1EJ

FIXED ASSETS

Tangible assets

4

1,605

1,333

CURRENT ASSETS

Debtors

5

5,358

9,120

Cash at bank

26,604

16,458

31,962

25,578

CREDITORS

Amounts falling due within one year

6

(19,480

)

(19,179

)

NET CURRENT ASSETS

12,482

6,399

TOTAL ASSETS LESS CURRENT LIABILITIES

14,087

7,732

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

14,086

7,731

14,087

7,732

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2021 and were signed by:

P Herron - Director

1.	STATUTORY INFORMATION

Paul Herron 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 statement is the Pound Sterling (£) which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 29 February 2020

1,999

Additions

1,407

At 28 February 2021

3,406

DEPRECIATION

At 29 February 2020

666

Charge for year

1,135

At 28 February 2021

1,801

NET BOOK VALUE

At 28 February 2021

1,605

At 28 February 2020

1,333

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

3,780

9,120

Prepayments and accrued income

1,578

-

5,358

9,120

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

349

168

Tax

12,914

11,163

VAT

2,704

2,651

Other creditors

1,460

1,436

Directors' current accounts

613

2,381

Accrued expenses

1,440

1,380

19,480

19,179