REGISTERED NUMBER: |
Pagis (UK) Limited |
Financial Statements For The Year Ended 31 March 2024 |
REGISTERED NUMBER: |
Pagis (UK) Limited |
Financial Statements For The Year Ended 31 March 2024 |
Pagis (UK) Limited (Registered number: 07591302) |
Contents of the Financial Statements |
For The Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Pagis (UK) Limited |
Company Information |
For The Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Pagis (UK) Limited (Registered number: 07591302) |
Statement of Financial Position |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Pagis (UK) Limited (Registered number: 07591302) |
Statement of Financial Position - continued |
31 March 2024 |
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 |
Pagis (UK) Limited (Registered number: 07591302) |
Notes to the Financial Statements |
For The Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Pagis (UK) Limited is a |
2. | STATEMENT OF COMPLIANCE |
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in sterling, which is the functional currency of the entity. |
Judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Significant judgements |
The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
1) Recognition of turnover for on-going contracts at the year end |
Turnover is recognised when the outcome of a transaction involving the rendering of services can be reliably estimated. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. |
Key sources of estimation uncertainty |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: |
1) Amortisation charge |
The annual amortisation charge for goodwill is based on an estimate of the useful economic life of the respective asset. This is reviewed periodically by the directors to ensure that this reflects both the external and internal factors. |
Goodwill |
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of identifiable assets, liabilities and contingent liabilities of the acquired business. |
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life of five years. |
Pagis (UK) Limited (Registered number: 07591302) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Investments |
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
Impairment |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Pagis (UK) Limited (Registered number: 07591302) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
6. | FIXED ASSET INVESTMENTS - continued |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Directors' current accounts | 25,121 | 24,142 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
Accrued expenses |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
At the year end the company was owed by its directors £25,121 (2023: £24,142 owed to). |
10. | CONTROLLING PARTY |
The Company was under the joint control of directors Mr A B Cooper, Mr G D Cooper and Mr R S Cooper throughout the current and previous year. Mr A B Cooper, Mr G D Cooper, and Mr R S Cooper are equal shareholders. |