P.A. Associates (North West) Limited 04362310 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of recruitment services Digita Accounts Production Advanced 6.30.9574.0 true true 04362310 2023-02-01 2024-01-31 04362310 2024-01-31 04362310 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-01-31 04362310 core:CurrentFinancialInstruments 2024-01-31 04362310 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 04362310 core:OfficeEquipment 2024-01-31 04362310 core:OtherPropertyPlantEquipment 2024-01-31 04362310 1 2024-01-31 04362310 bus:SmallEntities 2023-02-01 2024-01-31 04362310 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04362310 bus:FullAccounts 2023-02-01 2024-01-31 04362310 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04362310 bus:RegisteredOffice 2023-02-01 2024-01-31 04362310 bus:Director1 2023-02-01 2024-01-31 04362310 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-02-01 2024-01-31 04362310 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04362310 core:FurnitureFittings 2023-02-01 2024-01-31 04362310 core:OfficeEquipment 2023-02-01 2024-01-31 04362310 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 04362310 countries:England 2023-02-01 2024-01-31 04362310 1 2023-02-01 2024-01-31 04362310 2023-01-31 04362310 core:OfficeEquipment 2023-01-31 04362310 core:OtherPropertyPlantEquipment 2023-01-31 04362310 1 2023-01-31 04362310 2022-02-01 2023-01-31 04362310 2023-01-31 04362310 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-01-31 04362310 core:CurrentFinancialInstruments 2023-01-31 04362310 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 04362310 core:OfficeEquipment 2023-01-31 04362310 core:OtherPropertyPlantEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04362310

P.A. Associates (North West) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

(Registration number: 04362310)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

678

128

Current assets

 

Debtors

6

52,617

43,072

Cash at bank and in hand

 

24,413

67,987

 

77,030

111,059

Creditors: Amounts falling due within one year

7

(8,372)

(26,558)

Net current assets

 

68,658

84,501

Total assets less current liabilities

 

69,336

84,629

Provisions for liabilities

(122)

(25)

Net assets

 

69,214

84,604

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

69,213

84,603

Shareholders' funds

 

69,214

84,604

For the financial year ending 31 January 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 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.

Approved and authorised by the director on 9 October 2024
 

.........................................
Mrs P A Anthony
Director

 

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1st Floor, Block C
The Wharf
Manchester Road
Burnley
Lancashire
BB11 1JG

These financial statements were authorised for issue by the director on 9 October 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in 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.

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.

 

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 and fittings

25% on cost

Office equipment

33% on cost

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. 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.

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.

 

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

130

180

 

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Office equipment
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 February 2023

12,707

12,839

25,546

Additions

679

-

679

At 31 January 2024

13,386

12,839

26,225

Depreciation

At 1 February 2023

12,619

12,798

25,417

Charge for the year

89

41

130

At 31 January 2024

12,708

12,839

25,547

Carrying amount

At 31 January 2024

678

-

678

At 31 January 2023

87

41

128

6

Debtors

2024
£

2023
£

Trade debtors

-

494

Other debtors

52,555

42,516

Prepayments

62

62

52,617

43,072

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

814

1,195

Taxation and social security

4,548

21,497

Accruals and deferred income

2,550

2,550

Other creditors

460

1,316

8,372

26,558

 

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2024
£

2023
£

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

9

Related party transactions

Transactions with the director

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

41,845

47,010

(37,094)

51,761