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Registration number: 01686636

Pardo Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Pardo Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Pardo Limited

Company Information

Director

Mr J K Aikins

Company secretary

Mrs J K Aikins

Registered office

23/24 Barretts Green Road
London
NW10 7AE

Registered number

01686636

Accountants

Ripe LLP
Chartered Accountants
9A Burroughs Gardens
London
NW4 4AU

 

Pardo Limited

(Registration number: 01686636)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

194,704

199,898

Current assets

 

Stocks

5

27,649

41,406

Debtors

6

9,644

11,576

Cash at bank and in hand

 

206,826

160,026

 

244,119

213,008

Creditors: Amounts falling due within one year

7

(161,309)

(175,489)

Net current assets

 

82,810

37,519

Total assets less current liabilities

 

277,514

237,417

Creditors: Amounts falling due after more than one year

7

(8,881)

(14,966)

Net assets

 

268,633

222,451

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

268,533

222,351

Shareholders' funds

 

268,633

222,451

 

Pardo Limited

(Registration number: 01686636)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 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 17 September 2024
 

.........................................

Mr J K Aikins
Director

 

Pardo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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:
23/24 Barretts Green Road
London
NW10 7AE

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 were prepared in accordance with Financial Reporting Standard 102 Section 1A'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. There were no material departures from this standard.

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.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Government grants

Government grants in relation to expenditure are credited to profit and loss account when the expenditure is charged to profit and loss.

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.

 

Pardo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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

Land and buildings

not provided

Furniture and fittings

25% on reducing balance

Office equipment

25% on reducing balance

Motor vehicles

25% on reducing balance

Plant and machinery

25% on reducing balance

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.

Stocks

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

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.

Borrowings

 

Pardo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 January 2023

171,694

10,030

19,054

1,378

45,667

Additions

-

2,242

-

-

-

Disposals

-

-

-

-

(23,529)

At 31 December 2023

171,694

12,272

19,054

1,378

22,138

Depreciation

At 1 January 2023

-

9,123

14,411

833

23,558

Charge for the year

-

461

1,161

136

5,476

Eliminated on disposal

-

-

-

-

(23,327)

At 31 December 2023

-

9,584

15,572

969

5,707

Carrying amount

At 31 December 2023

171,694

2,688

3,482

409

16,431

At 31 December 2022

171,694

907

4,643

545

22,109

 

Pardo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Total
£

Cost or valuation

At 1 January 2023

247,823

Additions

2,242

Disposals

(23,529)

At 31 December 2023

226,536

Depreciation

At 1 January 2023

47,925

Charge for the year

7,234

Eliminated on disposal

(23,327)

At 31 December 2023

31,832

Carrying amount

At 31 December 2023

194,704

At 31 December 2022

199,898

5

Stocks

2023
£

2022
£

Other inventories

27,649

41,406

6

Debtors

Current

2023
£

2022
£

Trade debtors

6,826

5,114

Prepayments

1,926

807

Other debtors

892

5,655

 

9,644

11,576

 

Pardo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

6,085

5,935

Trade creditors

 

1,350

23,224

Taxation and social security

 

16,338

5,935

Accruals and deferred income

 

2,100

2,100

Other creditors

 

135,436

138,295

 

161,309

175,489

 

Pardo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

8,881

14,966

Current loans and borrowings

2023
£

2022
£

Bank borrowings

6,085

5,935

In the previous year, the company received a Bounce Back Loan balance of £30,000 , repayable in 60 equal monthly instalments, commencing June 2021 and having an interest rate of 2.50% per annum.

10

Related party transactions

At the balance sheet date, the company owed £135,436 (2022: £138,295) to the director and shareholder.