1 April 2022 v2023.33.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP075809792022-04-012023-03-31075809792023-03-31075809792022-03-3107580979core:WithinOneYear2023-03-3107580979core:WithinOneYear2022-03-3107580979core:ShareCapital2023-03-3107580979core:ShareCapital2022-03-3107580979core:RetainedEarningsAccumulatedLosses2023-03-3107580979core:RetainedEarningsAccumulatedLosses2022-03-3107580979bus:Director12022-04-012023-03-3107580979bus:RegisteredOffice2022-04-012023-03-31075809792021-04-012022-03-3107580979core:CostValuation2022-04-0107580979core:CostValuation2023-03-310758097912022-04-012023-03-3107580979countries:EnglandWales2022-04-012023-03-3107580979bus:AuditExemptWithAccountantsReport2022-04-012023-03-3107580979bus:PrivateLimitedCompanyLtd2022-04-012023-03-3107580979bus:SmallEntities2022-04-012023-03-3107580979bus:FullAccounts2022-04-012023-03-3107580979bus:Director22022-04-012023-03-31
Company registration number:
07580979
Pack Arrow (UK) Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2023
Pack Arrow (UK) Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Pack Arrow (UK) Limited
Year ended
31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Pack Arrow (UK) Limited
for the year ended
31 March 2023
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Pack Arrow (UK) Limited
, as a body, in accordance with the terms of my engagement letter dated 1 April 2022. My work has been undertaken solely to prepare for your approval the
financial statements
of
Pack Arrow (UK) Limited
and state those matters that I have agreed to state to the Board of Directors of
Pack Arrow (UK) Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Pack Arrow (UK) Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Pack Arrow (UK) Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and loss of
Pack Arrow (UK) Limited
. You consider that
Pack Arrow (UK) Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Pack Arrow (UK) Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Leon Charles Ltd
Suite 307 Boundary House
Boston Road
London
W7 2QE
United Kingdom
Date:
8 December 2023
Pack Arrow (UK) Limited
Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Investments 5
60
 
60
 
Current assets    
Debtors 6
11,600
 
18,600
 
Cash at bank and in hand
4,598
 
296
 
16,198
 
18,896
 
Creditors: amounts falling due within one year 7
(1,881
)
(3,299
)
Net current assets
14,317
 
15,597
 
Total assets less current liabilities 14,377   15,657  
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
14,277
 
15,557
 
Shareholders funds
14,377
 
15,657
 
For the 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
8 December 2023
, and are signed on behalf of the board by:
M Hadjiandreo
Director
Company registration number:
07580979
Pack Arrow (UK) Limited
Notes to the Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Suite 307 Boundary House
,
Boston Road
,
London
,
W7 2QE
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2
).

5 Investments

Shares in group undertakings and participating interests
£
Cost  
At
1 April 2022
60
 
At
31 March 2023
60
 
Impairment  
At
1 April 2022
and
31 March 2023
-  
Carrying amount  
At
31 March 2023
60
 
At 31 March 2022
60
 

6 Debtors

20232022
££
Amounts owed by group undertakings and undertakings in which the company has a participating interest
11,600
 
18,600
 

7 Creditors: amounts falling due within one year

20232022
££
Amounts owed to group undertakings and undertakings in which the company has a participating interest
60
 
60
 
Taxation and social security -  
1,830
 
Other creditors
1,821
 
1,409
 
1,881
 
3,299