Registered number |
14487478 |
PATTERN RICH INVESTMENTS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD ENDED 30 NOVEMBER 2023 |
PAGES FOR FILING WITH REGISTRAR |
PATTERN RICH INVESTMENTS LTD | |||
CONTENTS | |||
Page | |||
Balance sheet | 1 | ||
Notes to the financial statements | 2 - 5 | ||
Balance Sheet | |||||||
as at |
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Company Registration No. | 14487478 | ||||||
Notes | 2023 | ||||||
£ | |||||||
Fixed assets | |||||||
Investments | 3 | ||||||
Creditors: amounts falling due within one year | 4 | ( |
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Net current liabilities | ( |
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Net liabilities | ( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
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Shareholder's funds | ( |
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………………………………….. | |||||||
Richard Edward Hollands | |||||||
Director | |||||||
Approved by the board on |
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NOTES TO THE FINANCIAL STATEMENTS | ||||||||
FOR THE PERIOD FROM 16 NOVEMBER 2022 TO 30 NOVEMBER 2023 | ||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical convention. The principal accounting policies adopted are set out below. |
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Going concern | ||||||||
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. | ||||||||
Turnover | ||||||||
Fixed asset Investments | ||||||||
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest where the company has significant influence. The company considers that it has significant influence where it has the power to participate the financial and operating decisions of the associate. |
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Financial instruments | ||||||||
The company only enters into basic financial statements transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial instruments are recognised in the company's balance sheet date when the company becomes party to the contractual provisions of the instruments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective of impairments found, an impairment loss is recognised in profit and loss accounts. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets | ||||||||
Derecognition of financial assets | ||||||||
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. | ||||||||
Basic financial liabilities | ||||||||
Derecognition of financial liabilities | ||||||||
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled. | ||||||||
Cash and cash equivalents | ||||||||
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with financial institutions, and other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. | ||||||||
Taxation | ||||||||
The tax expense represents the sum of the tax currently payable and deferred tax. | ||||||||
Current tax | ||||||||
The current tax payable is based on taxable profit for the year. Taxable profit differs from net profit reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. | ||||||||
Foreign currency translation | ||||||||
2 | Employees | 2023 | ||||||
Number | ||||||||
Average number of persons employed by the company | ||||||||
3 | Investments | |||||||
Other | ||||||||
investments | ||||||||
£ | ||||||||
Cost | ||||||||
Additions | 1,200 | |||||||
At 30 November 2023 | 1,200 | |||||||
4 | Creditors: amounts falling due within one year | 2023 | ||||||
£ | ||||||||
Other creditors | ||||||||
5 | Other information | |||||||
Pattern Rich Investments Ltd is a private company limited by shares and incorporated in England and Wales. The registered office is: Level 5a,Maple House, 149 Tottenham Court Road, London, W1T 7NF. |