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REGISTERED NUMBER: 06597822 (England and Wales)















PELICANCORP (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






PELICANCORP (UK) LIMITED (REGISTERED NUMBER: 06597822)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PELICANCORP (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr M B Edwards
Dr D E Rodgers





SECRETARY: EBS Corporate Services Ltd





REGISTERED OFFICE: Innovation Centre
Gallows Hill
Warwick
CV34 6UW





REGISTERED NUMBER: 06597822 (England and Wales)





AUDITORS: TC Murphy Salisbury Limited
Celixir House
Stratford Business and Technology Park
Stratford-upon-Avon
Warwickshire
CV37 7GZ

PELICANCORP (UK) LIMITED (REGISTERED NUMBER: 06597822)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,248 1,281
Investments 5 10 10
2,258 1,291

CURRENT ASSETS
Debtors 6 659,758 410,946
Cash at bank 1,122,181 1,048,107
1,781,939 1,459,053
CREDITORS
Amounts falling due within one year 7 1,409,278 1,249,820
NET CURRENT ASSETS 372,661 209,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

374,919

210,524

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 374,918 210,523
SHAREHOLDERS' FUNDS 374,919 210,524

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by:





Dr D E Rodgers - Director


PELICANCORP (UK) LIMITED (REGISTERED NUMBER: 06597822)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Pelicancorp (UK) 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.

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.

The functional currency of the Company and the presentation currency of the financial statements is the Pound Sterling (£) which is the financial currency of the company and rounded to the nearest £1.

Going concern
The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% straight line basis

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

PELICANCORP (UK) LIMITED (REGISTERED NUMBER: 06597822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 3,214 6,093 9,307
Additions - 1,562 1,562
At 30 June 2023 3,214 7,655 10,869
DEPRECIATION
At 1 July 2022 2,881 5,145 8,026
Charge for year 83 512 595
At 30 June 2023 2,964 5,657 8,621
NET BOOK VALUE
At 30 June 2023 250 1,998 2,248
At 30 June 2022 333 948 1,281

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 July 2022
and 30 June 2023 10
NET BOOK VALUE
At 30 June 2023 10
At 30 June 2022 10

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,776 -
Amounts owed by group undertakings 371,911 83,129
Amounts owed by participating interests 236,157 288,213
Other debtors 41,914 39,604
659,758 410,946

PELICANCORP (UK) LIMITED (REGISTERED NUMBER: 06597822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,844 7,077
Amounts owed to group undertakings 1,226,966 1,104,882
Taxation and social security 74,648 55,630
Other creditors 100,820 82,231
1,409,278 1,249,820

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Bullock FCA (Senior Statutory Auditor)
for and on behalf of TC Murphy Salisbury Limited

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company has a joint venture with LSBUD. During the year the company made sales of £1,217,367 (2022: £880,338) to LSBUD. As at 30 June 2023, the amount due from LSBUD was £236,157 (2022: £288,213).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Pelicancorp PTY Limited, a company registered in Australia.