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REGISTERED NUMBER: 05847949 (England and Wales)









PACE TECHNOLOGY UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PACE TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 05847949)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PACE TECHNOLOGY UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr S A Kealey
Mrs J C Kealey
Mr C E De Araujo E Campos
Mr F Jacobs





SECRETARY: Mrs J C Kealey





REGISTERED OFFICE: Field Lodge West End
Rawcliffe
Goole
East Yorkshire
DN14 8RW





REGISTERED NUMBER: 05847949 (England and Wales)





AUDITORS: Rackhams Accountants Limited
Statutory Auditors
3 Melton Park
Redcliff Road
Melton
East Yorkshire
HU14 3RS

PACE TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 05847949)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 389,984 382,845
389,984 382,845

CURRENT ASSETS
Stocks 6 356,396 192,812
Debtors 7 866,936 549,541
Cash at bank and in hand 1,478,918 507,191
2,702,250 1,249,544
CREDITORS
Amounts falling due within one year 8 1,323,309 252,051
NET CURRENT ASSETS 1,378,941 997,493
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,768,925

1,380,338

PROVISIONS FOR LIABILITIES 96,466 90,565
NET ASSETS 1,672,459 1,289,773

CAPITAL AND RESERVES
Called up share capital 1,002 1,000
Retained earnings 1,671,457 1,288,773
SHAREHOLDERS' FUNDS 1,672,459 1,289,773

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2024 and were signed on its behalf by:





Mrs J C Kealey - Director


PACE TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 05847949)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Pace Technology 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

PACE TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 05847949)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023
and 31 March 2024 20,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Motor and
Equipment vehicles fittings Totals
£    £    £    £   
COST
At 1 April 2023 86,718 430,175 22,997 539,890
Additions 26,056 180,609 2,865 209,530
Disposals (33,461 ) (157,199 ) (14,594 ) (205,254 )
At 31 March 2024 79,313 453,585 11,268 544,166
DEPRECIATION
At 1 April 2023 53,130 92,299 11,616 157,045
Charge for year 8,921 92,849 1,636 103,406
Eliminated on disposal (22,658 ) (74,328 ) (9,283 ) (106,269 )
At 31 March 2024 39,393 110,820 3,969 154,182
NET BOOK VALUE
At 31 March 2024 39,920 342,765 7,299 389,984
At 31 March 2023 33,588 337,876 11,381 382,845

PACE TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 05847949)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. STOCKS
2024 2023
£    £   
Stocks 356,396 192,812

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 692,964 294,386
Prepayments and accrued income 173,972 255,155
866,936 549,541

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 175,152 111,682
Tax 314,699 25,172
Social security and other taxes 14,214 7,455
VAT 141,985 40,636
Directors' current accounts 78 6,542
Accruals and deferred income 677,181 60,564
1,323,309 252,051

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

The Report of the Auditors was unqualified.

Mr Trevor Mark Rackham (Senior Statutory Auditor)
for and on behalf of Rackhams Accountants Limited