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REGISTERED NUMBER: 03535372 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

G Pacitto & Sons (Redcar) Limited

G Pacitto & Sons (Redcar) Limited (Registered number: 03535372)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G Pacitto & Sons (Redcar) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M A Pacitto
M M Pacitto





SECRETARY: M Pacitto





REGISTERED OFFICE: 29 High Street
Redcar
TS10 3BZ





REGISTERED NUMBER: 03535372 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

G Pacitto & Sons (Redcar) Limited (Registered number: 03535372)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 426,365 440,956

CURRENT ASSETS
Stocks 4 4,536 3,490
Debtors 5 2,616 1,634
Cash at bank and in hand 586,610 569,889
593,762 575,013
CREDITORS
Amounts falling due within one year 6 (81,830 ) (72,065 )
NET CURRENT ASSETS 511,932 502,948
TOTAL ASSETS LESS CURRENT
LIABILITIES

938,297

943,904

PROVISIONS FOR LIABILITIES 7 (5,278 ) (8,091 )
NET ASSETS 933,019 935,813

CAPITAL AND RESERVES
Called up share capital 8 3,000 3,000
Share premium 9 590,388 590,388
Retained earnings 9 339,631 342,425
SHAREHOLDERS' FUNDS 933,019 935,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

G Pacitto & Sons (Redcar) Limited (Registered number: 03535372)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:




M A Pacitto - Director



M M Pacitto - Director


G Pacitto & Sons (Redcar) Limited (Registered number: 03535372)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 10% on cost

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

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 42 ) .

G Pacitto & Sons (Redcar) Limited (Registered number: 03535372)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 523,702 141,137 66,686 9,389 740,914
Additions - 995 - - 995
Disposals - (5,082 ) (2,548 ) - (7,630 )
At 31 March 2024 523,702 137,050 64,138 9,389 734,279
DEPRECIATION
At 1 April 2023 125,543 108,132 62,979 3,304 299,958
Charge for year 5,237 7,309 1,064 656 14,266
Eliminated on disposal - (6,310 ) - - (6,310 )
At 31 March 2024 130,780 109,131 64,043 3,960 307,914
NET BOOK VALUE
At 31 March 2024 392,922 27,919 95 5,429 426,365
At 31 March 2023 398,159 33,005 3,707 6,085 440,956

4. STOCKS
2024 2023
£    £   
Stocks 4,536 3,490

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,857 621
Prepayments 759 1,013
2,616 1,634

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 1,728
Trade creditors 16,862 14,506
Corporation tax 11,051 9,191
Social security and other tax 1,011 938
VAT 16,125 12,759
Accrued expenses 36,781 32,943
81,830 72,065

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,278 8,091

G Pacitto & Sons (Redcar) Limited (Registered number: 03535372)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 8,091
Provided during year (2,813 )
Balance at 31 March 2024 5,278

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,000 Ordinary 1 3,000 3,000

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 342,425 590,388 932,813
Profit for the year 33,206 33,206
Dividends (36,000 ) (36,000 )
At 31 March 2024 339,631 590,388 930,019