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Registration number: 06662405

Pampeano Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Pampeano Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Pampeano Limited

(Registration number: 06662405)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

70,137

51,415

Tangible assets

5

8,563

4,386

 

78,700

55,801

Current assets

 

Stocks

6

227,289

238,144

Debtors

7

75,971

55,408

Cash at bank and in hand

 

113,703

147,271

 

416,963

440,823

Creditors: Amounts falling due within one year

8

(153,344)

(191,605)

Net current assets

 

263,619

249,218

Total assets less current liabilities

 

342,319

305,019

Creditors: Amounts falling due after more than one year

8

(111,678)

(80,533)

Provisions for liabilities

(14,956)

(10,599)

Net assets

 

215,685

213,887

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

214,685

212,887

Shareholders' funds

 

215,685

213,887

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 her 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.

 

Pampeano Limited

(Registration number: 06662405)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 24 September 2024

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

Ms J Brown

Director

 

Pampeano 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 United Kingdom.

The address of its registered office is:
9 Station Field
Kidlington
OX5 1JD
United Kingdom

These financial statements were authorised for issue by the director on 24 September 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods n 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.

Government grants

The company received government grants in respect of the Coronavirus Job Retention Scheme. These grants are recognised using the accruals model and as such are recorded in the profit and loss account in the period in which the company is entitled to such grants as a result of having furloughed staff members.

 

Pampeano Limited

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

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 and deferred 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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

Fixtures, fittings and equipment

Straight line over 4-5 years

Intangible assets

Intangible assets are stated in the statement of financial position at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademark and website

Straight line over 5 years

 

Pampeano Limited

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

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.

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. 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 stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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

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.

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.

 

Pampeano Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2022 - 8).

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

91,685

91,685

Additions acquired separately

35,524

35,524

At 31 December 2023

127,209

127,209

Amortisation

At 1 January 2023

40,270

40,270

Amortisation charge

16,802

16,802

At 31 December 2023

57,072

57,072

Carrying amount

At 31 December 2023

70,137

70,137

At 31 December 2022

51,415

51,415

 

Pampeano Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

35,989

35,989

Additions

5,640

5,640

Disposals

-

-

At 31 December 2023

41,629

41,629

Depreciation

At 1 January 2023

31,603

31,603

Charge for the year

1,463

1,463

At 31 December 2023

33,066

33,066

Carrying amount

At 31 December 2023

8,563

8,563

At 31 December 2022

4,386

4,386

6

Stocks

2023
£

2022
£

Other inventories

227,289

238,144

7

Debtors

2023
£

2022
£

Trade debtors

44,406

30,633

Prepayments

26,957

24,549

Other debtors

4,608

226

75,971

55,408

 

Pampeano Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

20,006

24,098

Trade creditors

 

35,558

35,775

Taxation and social security

 

61,614

77,992

Accruals and deferred income

 

13,600

2,197

Other creditors

 

22,566

51,543

 

153,344

191,605

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

111,678

80,533

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

A Ordinary of £0.01 each

100,000

1,000

100,000

1,000

         

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

111,678

80,533

 

Pampeano Limited

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

2023
£

2022
£

Current loans and borrowings

Bank borrowings

20,006

24,098

11

Dividends

Final dividends paid

   

2023
£

 

2022
£

Final dividend of £0.42 (2022 - £0.55) per each Ordinary shares

 

42,000

 

55,000

         

12

Related party transactions

Summary of transactions with other related parties


J. Brown (director and shareholder)

 At the balance sheet date, the company owed the director £119 (2022: £10,013).

Dividends of £42,000 were paid to the related party during the year (2022: £55,000).