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Registration number: 06747992

Pailing Consulting Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2023

Pailing Consulting Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3
Notes to the Unaudited Financial Statements | 4 to 8

Pailing Consulting Limited

Company Information

Directors | Mr A Pailing Mrs SM Pailing

Company secretary | Mr A Pailing

Registered office | 4 Hayfield Avenue Poulton le Fylde FY6 7JH

Accountants | Crossley & Davis Chartered Accountants Ground Floor, Seneca House Links Point, Amy Johnson Way Blackpool Lancashire FY4 2FF

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pailing Consulting Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pailing Consulting Limited for the year ended 31 March 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Pailing Consulting Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pailing Consulting Limited and state those matters that we have agreed to state to the Board of Directors of Pailing Consulting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pailing Consulting Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pailing Consulting Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pailing Consulting Limited. You consider that Pailing Consulting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Pailing Consulting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

27 September 2023

Pailing Consulting Limited

(Registration number: 06747992)
Balance Sheet as at 31 March 2023

| Note | 2023 £ | 2022 £
Current assets |  |  |
Debtors | 6 | 211,928 | 185,692
Cash at bank and in hand |  | 16,602 | 2,875
|  | 228,530 | 188,567
Creditors: Amounts falling due within one year | 7 | (58,826) | (58,572)
Net assets |  | 169,704 | 129,995
Capital and reserves |  |  |
Called up share capital | 8 | 100 | 100
Retained earnings |  | 169,604 | 129,895
Shareholders' funds |  | 169,704 | 129,995

For the financial year ending 31 March 2023 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 September 2023 and signed on its behalf by:

......................................... Mr A Pailing Company secretary and director

Pailing Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
4 Hayfield Avenue
Poulton le Fylde
FY6 7JH

These financial statements were authorised for issue by the Board on 27 September 2023.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Pailing Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Equipment | 25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Pailing Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4 | Profit before tax

Arrived at after charging/(crediting)

Pailing Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

| 2023 £ | 2022 £

5 | Tangible assets

| Other property, plant and equipment £ | Total £
Cost or valuation
At 1 April 2022 | 1,775 | 1,775
At 31 March 2023 | 1,775 | 1,775
Depreciation
At 1 April 2022 | 1,775 | 1,775
At 31 March 2023 | 1,775 | 1,775
Carrying amount
At 31 March 2023 | - | -

6 | Debtors

Current | 2023 £ | 2022 £
Trade debtors | 9,520 | 6,800
Other debtors | 202,408 | 178,892
| 211,928 | 185,692

7 | Creditors

Creditors: amounts falling due within one year

| 2023 £ | 2022 £
Due within one year |  |
Taxation and social security | 53,822 | 54,368
Accruals and deferred income | 5,004 | 4,204
| 58,826 | 58,572

8 | Share capital

Allotted, called up and fully paid shares

Pailing Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

| 2023 | 2022
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

9 | Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2023 £ | 2022 £
Remuneration | 9,096 | 8,840

Loans to related parties

2023 | Key management £ | Total £
At start of period | 159,630 | 159,630
Advanced | 71,632 | 71,632
Repaid | (71,632) | (71,632)
At end of period | 159,630 | 159,630

2022 | Key management £ | Total £
At start of period | 131,626 | 131,626
Advanced | 98,704 | 98,704
Repaid | (70,700) | (70,700)
At end of period | 159,630 | 159,630