2023-02-012024-01-312024-01-31false10583576PAG DEVELOPMENTS 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PAG DEVELOPMENTS LIMITED

Registered Number
10583576
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

PAG DEVELOPMENTS LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

GREEN, Emily
GREEN, Paul Anthony

Registered Address

Green Gables Green Lane
Quadring
Spalding
PE11 4SR

Registered Number

10583576 (England and Wales)
PAG DEVELOPMENTS LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets391,16438,906
91,16438,906
Current assets
Stocks487,543145,904
Debtors224,92516,868
Cash at bank and on hand119,105171,453
431,573334,225
Creditors amounts falling due within one year5(77,186)(124,324)
Net current assets (liabilities)354,387209,901
Total assets less current liabilities445,551248,807
Provisions for liabilities6(110,000)-
Net assets335,551248,807
Capital and reserves
Called up share capital100100
Profit and loss account335,451248,707
Shareholders' funds335,551248,807
The financial statements were approved and authorised for issue by the Board of Directors on 11 March 2024, and are signed on its behalf by:
GREEN, Paul Anthony
Director
Registered Company No. 10583576
PAG DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 February 2346,25016,4582,43465,142
Additions65,48332,500-97,983
Disposals(17,500)--(17,500)
At 31 January 2494,23348,9582,434145,625
Depreciation and impairment
At 01 February 2316,8508,2291,15726,236
Charge for year15,34712,24063928,226
On disposals(1)--(1)
At 31 January 2432,19620,4691,79654,461
Net book value
At 31 January 2462,03728,48963891,164
At 31 January 2329,4008,2291,27738,906
4.Stocks

2024

2023

££
Work in progress87,543145,904
Total87,543145,904
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,13823,223
Taxation and social security15,62411
Other creditors50,424101,090
Total77,186124,324
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Other provisions110,000-
Total110,000-