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REGISTERED NUMBER: 04483286 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

PA Performance Limited

PA Performance Limited (Registered number: 04483286)






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


PA Performance Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R A Meredith
P L Meredith
A O Meredith
A F I Meredith
C R Meredith





REGISTERED OFFICE: The Old Pump House
Bath Road
Hardwicke
Gloucester
GL2 2RG





REGISTERED NUMBER: 04483286 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

PA Performance Limited (Registered number: 04483286)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 968,918 982,521

CURRENT ASSETS
Stocks 416,585 140,946
Debtors 5 1,099,196 1,502,462
Cash at bank 978,882 947,477
2,494,663 2,590,885
CREDITORS
Amounts falling due within one year 6 811,025 1,223,309
NET CURRENT ASSETS 1,683,638 1,367,576
TOTAL ASSETS LESS CURRENT LIABILITIES 2,652,556 2,350,097

PROVISIONS FOR LIABILITIES 68,646 71,306
NET ASSETS 2,583,910 2,278,791

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,583,810 2,278,691
2,583,910 2,278,791

PA Performance Limited (Registered number: 04483286)

Balance Sheet - continued
31 March 2024


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.

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 25 October 2024 and were signed on its behalf by:





A O Meredith - Director


PA Performance Limited (Registered number: 04483286)

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

1. STATUTORY INFORMATION

PA Performance 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

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.

Tangible fixed 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 is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - Nil
Fixtures, fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

PA Performance Limited (Registered number: 04483286)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads incurred in bringing inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PA Performance Limited (Registered number: 04483286)

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

2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Group accounts not prepared
The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings Motor
property & equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023 880,954 113,603 98,800 1,093,357
Additions - 16,969 - 16,969
Disposals - (5,809 ) (19,689 ) (25,498 )
At 31 March 2024 880,954 124,763 79,111 1,084,828
DEPRECIATION
At 1 April 2023 - 66,453 44,383 110,836
Charge for year - 13,880 13,105 26,985
Eliminated on disposal - (4,220 ) (17,691 ) (21,911 )
At 31 March 2024 - 76,113 39,797 115,910
NET BOOK VALUE
At 31 March 2024 880,954 48,650 39,314 968,918
At 31 March 2023 880,954 47,150 54,417 982,521

PA Performance Limited (Registered number: 04483286)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,067,233 1,471,270
Other debtors 31,963 31,192
1,099,196 1,502,462

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 707,468 487,307
Amounts owed to group undertakings - 16,963
Taxation and social security 81,443 631,724
Other creditors 22,114 87,315
811,025 1,223,309

7. OFF BALANCE SHEET COMMITMENTS

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £17,278 (2023 - £11,116).

PA Performance Limited (Registered number: 04483286)

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

8. RELATED PARTY DISCLOSURES

Loans from related parties



Key
management


Total
2024 £ £
At start of period 1,724 1,724
Advanced 2,087 2,087
Repaid (1,751 ) (1,751 )
At end of period 2,060 2,060


Key
management


Total
2023 £ £
At start of period 1,031 1,031
Advanced 990 990
Repaid (297 ) (297 )
At end of period 1,724 1,724

Loans from key management are interest free and repayable on demand.