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Company No: 05777773 (England and Wales)

PATTCO LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

PATTCO LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

PATTCO LIMITED

BALANCE SHEET

As at 30 April 2024
PATTCO LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 4,583 0
Tangible assets 4 3,709 8,705
8,292 8,705
Current assets
Debtors 5 232,340 216,611
Cash at bank and in hand 42,387 79,261
274,727 295,872
Creditors: amounts falling due within one year 6 ( 180,370) ( 178,742)
Net current assets 94,357 117,130
Total assets less current liabilities 102,649 125,835
Creditors: amounts falling due after more than one year 7 ( 74,641) ( 125,277)
Net assets 28,008 558
Capital and reserves
Called-up share capital 2 2
Profit and loss account 28,006 556
Total shareholder's funds 28,008 558

For the financial year ending 30 April 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 financial statements of PATTCO Limited (registered number: 05777773) were approved and authorised for issue by the Director on 11 September 2024. They were signed on its behalf by:

L Richmond
Director
PATTCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
PATTCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

PATTCO Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 7 & 8 Church Street, Wimborne, BH21 1JH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
25 % reducing balance
Vehicles 4 years straight line
Fixtures and fittings 4 years straight line
Computer equipment 4 years straight line
25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 7 7

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 May 2023 0 0
Additions 5,000 5,000
At 30 April 2024 5,000 5,000
Accumulated amortisation
At 01 May 2023 0 0
Charge for the financial year 417 417
At 30 April 2024 417 417
Net book value
At 30 April 2024 4,583 4,583
At 30 April 2023 0 0

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 May 2023 39,987 52,820 6,372 27,126 126,305
Disposals 0 ( 16,970) 0 0 ( 16,970)
At 30 April 2024 39,987 35,850 6,372 27,126 109,335
Accumulated depreciation
At 01 May 2023 39,451 46,747 5,322 26,080 117,600
Charge for the financial year 134 3,812 450 600 4,996
Disposals 0 ( 16,970) 0 0 ( 16,970)
At 30 April 2024 39,585 33,589 5,772 26,680 105,626
Net book value
At 30 April 2024 402 2,261 600 446 3,709
At 30 April 2023 536 6,073 1,050 1,046 8,705

5. Debtors

2024 2023
£ £
Trade debtors 108,390 89,310
Other debtors 123,950 127,301
232,340 216,611

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 35,086 42,681
Taxation and social security 43,177 46,426
Other creditors 102,107 89,635
180,370 178,742

There is a fixed and floating charge on the assets of the company.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 74,641 125,277

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Key management 97,238 99,372

Interest has been charged on the overdrawn loan account in line with HMRC's official rate.