Paused Perception Ltd 13300203 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Specialised design activities Digita Accounts Production Advanced 6.30.9574.0 true true 13300203 2023-04-01 2024-03-31 13300203 2024-03-31 13300203 bus:OrdinaryShareClass1 2024-03-31 13300203 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-03-31 13300203 core:CurrentFinancialInstruments 2024-03-31 13300203 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13300203 core:PlantMachinery 2024-03-31 13300203 bus:SmallEntities 2023-04-01 2024-03-31 13300203 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13300203 bus:FilletedAccounts 2023-04-01 2024-03-31 13300203 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13300203 bus:RegisteredOffice 2023-04-01 2024-03-31 13300203 bus:Director1 2023-04-01 2024-03-31 13300203 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13300203 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13300203 core:PlantMachinery 2023-04-01 2024-03-31 13300203 countries:EnglandWales 2023-04-01 2024-03-31 13300203 2023-03-31 13300203 core:PlantMachinery 2023-03-31 13300203 2022-04-01 2023-03-31 13300203 2023-03-31 13300203 bus:OrdinaryShareClass1 2023-03-31 13300203 core:CurrentFinancialInstruments 2023-03-31 13300203 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13300203 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13300203

Paused Perception Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Paused Perception Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Paused Perception Ltd

Company Information

Director

Mr Oliver Jobling

Registered office

7 Parkhill Road
Hale
Altrincham
Cheshire
WA15 9JX

Accountants

Williamson Croft (Liverpool) Ltd
Chartered Certified Accountants
1 Old Hall Street
1st Floor
Liverpool
L3 9HF

 

Paused Perception Ltd

(Registration number: 13300203)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,088

5,005

Other financial assets

5

1,667

15,793

 

4,755

20,798

Current assets

 

Debtors

6

4,002

2,230

Cash at bank and in hand

 

14,431

14,947

 

18,433

17,177

Creditors: Amounts falling due within one year

7

(23,017)

(34,675)

Net current liabilities

 

(4,584)

(17,498)

Net assets

 

171

3,300

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

71

3,200

Shareholders' funds

 

171

3,300

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 August 2024
 

.........................................
Mr Oliver Jobling
Director

 

Paused Perception Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Parkhill Road
Hale
Altrincham
Cheshire
WA15 9JX

These financial statements were authorised for issue by the director on 27 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Paused Perception Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

Straight Line 20%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Paused Perception Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Paused Perception Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

6,075

6,075

Additions

124

124

Disposals

(1,012)

(1,012)

At 31 March 2024

5,187

5,187

Depreciation

At 1 April 2023

1,070

1,070

Charge for the year

1,029

1,029

At 31 March 2024

2,099

2,099

Carrying amount

At 31 March 2024

3,088

3,088

At 31 March 2023

5,005

5,005

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

15,793

15,793

Fair value adjustments

(14,126)

(14,126)

At 31 March 2024

1,667

1,667

Impairment

Carrying amount

At 31 March 2024

1,667

1,667

 

Paused Perception Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

2,534

2,230

Other debtors

1,468

-

 

4,002

2,230

7

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

7,836

7,201

Accruals and deferred income

1,805

3,594

Other creditors

13,376

23,880

23,017

34,675

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares

100

100

100

100

       
 

Paused Perception Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

As at the year end there were amounts totalling £13,208 (2023: £23,672) owed to the director. The amounts are unsecured, interest free and repayable on demand.

Due to common directors and shareholders Earlam and Jobling Investment Company Ltd is a related party. At the year end there is a balance totalling £1,000 included within other debtors due more than one year, owed by Earlam and Jobling Investment Company Ltd. The directors have classified the balance as long term as there is no intention to pay or terms requiring payment in the short term. The loan is unsecured and interest free.