REGISTERED NUMBER:
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PAUL PAYNE BRICKLAYING CONTRACTORS LTD. |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30 APRIL 2016 |
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REGISTERED NUMBER:
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PAUL PAYNE BRICKLAYING CONTRACTORS LTD. |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30 APRIL 2016 |
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PAUL PAYNE BRICKLAYING CONTRACTORS LTD. (REGISTERED NUMBER: 03344805) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 5 |
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PAUL PAYNE BRICKLAYING CONTRACTORS LTD. |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Town Wall House |
Balkerne Hill |
Colchester |
Essex |
CO3 3AD |
PAUL PAYNE BRICKLAYING CONTRACTORS LTD. (REGISTERED NUMBER: 03344805) |
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BALANCE SHEET |
30 APRIL 2016 |
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2016 | 2015 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Property, plant and equipment | 4 |
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CURRENT ASSETS |
Debtors: amounts falling due within one year | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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
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(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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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PAUL PAYNE BRICKLAYING CONTRACTORS LTD. (REGISTERED NUMBER: 03344805) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2016 |
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1. | STATUTORY INFORMATION |
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Paul Payne Bricklaying Contractors Ltd. is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Transition to financial reporting standard 102 section 1a |
This is the first year that the company has presented its financial statements under Financial Reporting Standard 102 |
Section 1A (FRS 102 1A) issued by the Financial Reporting Council. The last financial statements for the year ended 30 |
April 2015 were prepared under previous UK GAAP, and the transition date to FRS 102 is therefore 1 May 2014. |
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No changes of accounting policies were required to comply with the new standard. |
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Revenue |
Revenue represents the value of work done in the year excluding VAT. |
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Goodwill |
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the |
useful economic life of that asset as follows: |
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Goodwill - 2 years |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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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. |
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Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. |
The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account |
on a straight line basis. |
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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. |
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Long term contracts |
Profit on long term contracts is taken as the work is carried out once the final outcome of the project can be |
assessed with reasonable certainty. Provision is made for losses on contracts in the year in which they are |
foreseen. |
PAUL PAYNE BRICKLAYING CONTRACTORS LTD. (REGISTERED NUMBER: 03344805) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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3. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2015 |
and 30 April 2016 |
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AMORTISATION |
At 1 May 2015 |
and 30 April 2016 |
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NET BOOK VALUE |
At 30 April 2016 |
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At 30 April 2015 |
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4. | PROPERTY, PLANT AND EQUIPMENT |
Improvements | Fixtures |
to | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2015 |
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Additions |
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Disposals |
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At 30 April 2016 |
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DEPRECIATION |
At 1 May 2015 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2016 |
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NET BOOK VALUE |
At 30 April 2016 |
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At 30 April 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Amounts owed by group undertakings |
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Amounts recoverable on contracts |
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VAT |
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Prepayments and accrued income |
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PAUL PAYNE BRICKLAYING CONTRACTORS LTD. (REGISTERED NUMBER: 03344805) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank overdraft |
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Hire purchase contracts |
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Trade creditors |
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Corporation tax |
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Other taxes and social security |
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Other creditors |
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Directors' current accounts | 149,726 | 117,876 |
Accruals and deferred income |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Other creditors | 122,333 | 168,398 |
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The above amounts in other creditors are secured by debentures dated 2 November 2012 over the assets of the |
company. |
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Of the balance £59,600 is due for repayment within one year, £52,933 within 1-2 years and £9,800 due in 2-5 years. |
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9. | OTHER FINANCIAL COMMITMENTS |
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The company had total commitments at the balance sheet date of £41,875 (2015 - £49,375). |
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10. | RELATED PARTY DISCLOSURES |
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Throughout the year the company was under the control of Paul Payne Holdings Limited. |
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At the year end, £796,039 (2015: £797,039) was due from the ultimate parent company Adam Stringer |
Holdings Limited. The loan is repayable on demand. |
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11. | ULTIMATE HOLDING COMPANY |
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The ultimate holding company is Adam Stringer Holdings Limited. |
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12. | FIRST YEAR ADOPTION |
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There is no effect of the transition to FRS 102 Section 1A on the value of equity or profit reported under the previous |
financial reporting framework. |
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