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REGISTERED NUMBER: 11558986 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Pals Group Limited

Pals Group Limited (Registered number: 11558986)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pals Group Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: P Towler





REGISTERED OFFICE: Unit 5 Dorlan Court
Alan Ramsbottom Way
Great Harwood
Lancashire
BB6 7UR





REGISTERED NUMBER: 11558986 (England and Wales)





ACCOUNTANTS: Xeinadin
Ground Floor
Citygate
Longridge Road
Preston
Lancashire
PR2 5BQ

Pals Group Limited (Registered number: 11558986)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,522,233 2,522,233

CURRENT ASSETS
Debtors 5 200 100
Cash at bank 1,610 27,909
1,810 28,009
CREDITORS
Amounts falling due within one year 6 216,007 183,729
NET CURRENT LIABILITIES (214,197 ) (155,720 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,308,036

2,366,513

CREDITORS
Amounts falling due after more than
one year

7

2,307,661

2,366,277
NET ASSETS 375 236

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 275 136
SHAREHOLDERS' FUNDS 375 236

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Pals Group Limited (Registered number: 11558986)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2024 and were signed by:





P Towler - Director


Pals Group Limited (Registered number: 11558986)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Pals Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Pals Group Limited (Registered number: 11558986)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 2,522,233
NET BOOK VALUE
At 30 April 2024 2,522,233
At 30 April 2023 2,522,233

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 200 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 212,504 180,300
Other creditors 3,503 3,429
216,007 183,729

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans - 1-2 years 213,581 177,156
Other loans - 2-5 years 753,114 605,886
Other loans more 5yrs instal 71,271 446,399
Amounts owed to group undertakings 1,269,695 1,136,836
2,307,661 2,366,277

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 71,271 446,399

Pals Group Limited (Registered number: 11558986)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 1,250,470 1,409,741

The loan is secured by a fixed and floating charge over the assets of the company.
The charge contains a negative pledge.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

10. RELATED PARTY DISCLOSURES

Creditors include £1,258,395.07 (2023: £1,132,636.15) which is owed to C M Oxendale Limited by the company.

Dividends received during the year include £304,000 (2023: £204,975) paid by C M Oxendale Limited to the company.

Creditors include £11,300 (2023: £4,200) which is owed to an associate company, Pals Property Holdings Limited by the company.