Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activity2023-01-01falsefalse22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11510405 2023-01-01 2023-12-31 11510405 2022-01-01 2022-12-31 11510405 2023-12-31 11510405 2022-12-31 11510405 c:Director1 2023-01-01 2023-12-31 11510405 d:CurrentFinancialInstruments 2023-12-31 11510405 d:CurrentFinancialInstruments 2022-12-31 11510405 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11510405 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11510405 d:ShareCapital 2023-12-31 11510405 d:ShareCapital 2022-12-31 11510405 d:RetainedEarningsAccumulatedLosses 2023-12-31 11510405 d:RetainedEarningsAccumulatedLosses 2022-12-31 11510405 c:FRS102 2023-01-01 2023-12-31 11510405 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11510405 c:FullAccounts 2023-01-01 2023-12-31 11510405 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11510405 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure


















Pactimo Europe Limited























Unaudited

Financial statements



For the year ended 31 December 2023



Registered number: 11510405

 
Pactimo Europe Limited - Registered number:11510405


Statement of financial position
As at 31 December 2023

2023
2023
2022
2022
Note
£
£
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
16,315
109

Cash at bank and in hand
  
50,942
20,150

  
67,257
20,259

Creditors: amounts falling due within one year
 5 
(87,876)
(36,670)

Net current liabilities
  
 
 
(20,619)
 
 
(16,411)

Total assets less current liabilities
  
(20,619)
(16,411)

  

Net liabilities
  
(20,619)
(16,411)


Capital and reserves
  

Share capital
  
100
100

Profit and loss account
  
(20,719)
(16,511)

  
(20,619)
(16,411)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


C L Jacobs
Director

Date: 31 July 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
Pactimo Europe Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Pactimo Europe Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL and its registered number is 11510405.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date the company's liabilities exceeded its assets. The company has received assurance from the parent company that they will continue to give financial support to the company for a period of at least twelve months from the date of approval of these financial statements sufficient to enable the company to meet its liabilities as and when they fall due for the foreseeable future and defer repayment of any amounts owed to them in favour of other creditors.
Should the financial support mentioned above not be forthcoming, the going concern basis used in preparing
the company's financial statements may be invalid and adjustments would have to be made necessary should this basis not continue to be appropriate.

Page 2

 
Pactimo Europe Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
Pactimo Europe Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Trade debtors
87
109

Other debtors
15,928
-

Prepayments and accrued income
300
-

16,315
109


Page 4

 
Pactimo Europe Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
11,813
7,888

Amounts owed to group undertakings
56,560
10,073

Other taxation and social security
11,248
7,143

Other creditors
790
6,841

Accruals and deferred income
7,465
4,725

87,876
36,670



Page 5