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PAG SERVICES LTD

Registered Number
SC603785
(Scotland)

Unaudited Financial Statements for the Year ended
31 July 2023

PAG SERVICES LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

GRAHAM, Paul

Registered Address

19 Allan Grove
Bellshill
ML4 1BX

Registered Number

SC603785 (Scotland)
PAG SERVICES LTD
Statement of Financial Position
31 July 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors310110,083
Cash at bank and on hand22,00716,553
22,10826,636
Creditors amounts falling due within one year4(22,106)(26,635)
Net current assets (liabilities)21
Total assets less current liabilities21
Net assets21
Capital and reserves
Called up share capital11
Profit and loss account1-
Shareholders' funds21
The financial statements were approved and authorised for issue by the Director on 13 August 2024, and are signed on its behalf by:
GRAHAM, Paul
Director
Registered Company No. SC603785
PAG SERVICES LTD
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet 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.
2.Average number of employees

20232022
Average number of employees during the year00
3.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables19,351
Prepayments and accrued income100732
Total10110,083
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables8,64616,426
Amounts owed to related parties5,3332,345
Taxation and social security7,2777,148
Accrued liabilities and deferred income850716
Total22,10626,635
5.Controlling party
The ultimate controlling party is Paul Graham.