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REGISTERED NUMBER: 03877341 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

P.A.C. SUPPLIES LTD

P.A.C. SUPPLIES LTD (REGISTERED NUMBER: 03877341)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P.A.C. SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: F G Bryant
Mrs P E Bryant
C Bryant





SECRETARY: F G Bryant





REGISTERED OFFICE: 29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA





REGISTERED NUMBER: 03877341 (England and Wales)





ACCOUNTANTS: Lemans
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

P.A.C. SUPPLIES LTD (REGISTERED NUMBER: 03877341)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,636 57,414

CURRENT ASSETS
Stocks 165,358 144,229
Debtors 5 253,056 302,032
Investments 6 1,300 1,300
Cash at bank and in hand 135,657 102,476
555,371 550,037
CREDITORS
Amounts falling due within one year 7 176,531 191,871
NET CURRENT ASSETS 378,840 358,166
TOTAL ASSETS LESS CURRENT
LIABILITIES

425,476

415,580

CREDITORS
Amounts falling due after more than one year 8 (16,942 ) (23,444 )

PROVISIONS FOR LIABILITIES (11,661 ) (14,353 )
NET ASSETS 396,873 377,783

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 396,773 377,683
SHAREHOLDERS' FUNDS 396,873 377,783

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

P.A.C. SUPPLIES LTD (REGISTERED NUMBER: 03877341)

BALANCE SHEET - continued
31 DECEMBER 2023


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 14 August 2024 and were signed on its behalf by:





C Bryant - Director


P.A.C. SUPPLIES LTD (REGISTERED NUMBER: 03877341)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

P.A.C. Supplies Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stock are valued on a first in first out basis, 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 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.

P.A.C. SUPPLIES LTD (REGISTERED NUMBER: 03877341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price.

Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Operating leases
Payments made under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 62,821 57,540 13,338 133,699
Additions 4,765 - - 4,765
At 31 December 2023 67,586 57,540 13,338 138,464
DEPRECIATION
At 1 January 2023 36,935 26,012 13,338 76,285
Charge for year 7,662 7,881 - 15,543
At 31 December 2023 44,597 33,893 13,338 91,828
NET BOOK VALUE
At 31 December 2023 22,989 23,647 - 46,636
At 31 December 2022 25,886 31,528 - 57,414

P.A.C. SUPPLIES LTD (REGISTERED NUMBER: 03877341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 57,540
Transfer to ownership (25,955 )
At 31 December 2023 31,585
DEPRECIATION
At 1 January 2023 26,012
Charge for year 7,881
Transfer to ownership (20,075 )
At 31 December 2023 13,818
NET BOOK VALUE
At 31 December 2023 17,767
At 31 December 2022 31,528

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 251,496 297,662
Other debtors 1,560 4,370
253,056 302,032

6. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Unlisted investments 1,300 1,300

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 9) 6,251 7,426
Trade creditors 111,637 127,789
Corporation tax 32,633 27,160
Social security and other taxes 12,292 17,208
Directors' current accounts 8,038 8,038
Accrued expenses 5,680 4,250
176,531 191,871

P.A.C. SUPPLIES LTD (REGISTERED NUMBER: 03877341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 9) 16,942 23,444

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 6,251 7,426
Between one and five years 16,942 23,444
23,193 30,870

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Between one and five years 32,000 30,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 23,193 30,870

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100