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Company Registration No. 13160399 (England and Wales)
Pascal Retail Ltd Annual Accounts for the year ended 31 January 2024
Pascal Retail Ltd Annual Accounts Contents
Page
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Pascal Retail Ltd Company Information for the year ended 31 January 2024
Directors
Muhammad Usman Latif Fakhar Abbas Syed-Syeda
Company Number
13160399 (England and Wales)
Registered Office
Branch House 31-33 Branch Road Batley West Yorkshire WF17 5SB
Accountants
CGI Accountants Ltd Branch House 31-33 Branch Road Batley West Yorkshire WF17 5SB
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Pascal Retail Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
33,681 
5,241 
Current assets
Inventories
89,060 
26,015 
Debtors
94,689 
71,977 
Cash at bank and in hand
809,067 
685,731 
992,816 
783,723 
Creditors: amounts falling due within one year
(762,416)
(282,383)
Net current assets
230,400 
501,340 
Net assets
264,081 
506,581 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
263,981 
506,481 
Shareholders' funds
264,081 
506,581 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by
Muhammad Usman Latif Director Company Registration No. 13160399
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Pascal Retail Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Pascal Retail Ltd is a private company, limited by shares, registered in England and Wales, registration number 13160399. The registered office is Branch House, 31-33 Branch Road, Batley, West Yorkshire, WF17 5SB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing balance
Computer equipment
20% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Pascal Retail Ltd Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
7,525 
1,574 
9,099 
Additions
19,209 
19,116 
38,325 
At 31 January 2024
26,734 
20,690 
47,424 
Depreciation
At 1 February 2023
3,291 
567 
3,858 
Charge for the year
5,860 
4,025 
9,885 
At 31 January 2024
9,151 
4,592 
13,743 
Net book value
At 31 January 2024
17,583 
16,098 
33,681 
At 31 January 2023
4,234 
1,007 
5,241 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
94,689 
71,977 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
80,570 
84,818 
Trade creditors
92,627 
50,188 
Taxes and social security
169,889 
111,959 
Proposed dividends
400,000 
- 
Other creditors
6,427 
26,115 
Loans from directors
3,103 
3,103 
Accruals
9,800 
6,200 
762,416 
282,383 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Muhammad Usman Latif
Directors Loan
3,103 
- 
- 
3,103 
3,103 
- 
- 
3,103 
Included within creditors is a directors loan of £3103 (2023: £3103). The loan is unsecured, interest free and can be repaid upon demand.
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Pascal Retail Ltd Notes to the Accounts for the year ended 31 January 2024
8
Transactions with related parties
During the year, the entire issued share capital of the company was acquired by PSCL Holdings Ltd (CRN: 14543522) The company has taken advantage of FRS 102, section 33 and has chosen not to disclose related party transactions within the group.
9
Controlling party
By virtue of ownership of the entire issued share capital, the ultimate controlling party is PSCL Holdings Ltd (CRN: 14543522) a company registered in England & Wales. The registered office address of the parent company is Branch House, 31-33 Branch Road, Batley, WF17 5SB
10
Average number of employees
During the year the average number of employees was 9 (2023: 7).
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