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REGISTERED NUMBER: 13840206 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 January 2024

for

PALETAS LIMITED

PALETAS LIMITED (REGISTERED NUMBER: 13840206)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PALETAS LIMITED

Company Information
for the year ended 31 January 2024







DIRECTORS: Ms S H Davidson
Dr P J T Allen





REGISTERED OFFICE: 25A Merton Road
Bristol
BS7 8TL





REGISTERED NUMBER: 13840206 (England and Wales)





ACCOUNTANTS: Mitchell Glanville (Bristol) Limited
c/o MGB Accountants - Suite 22
Trym Lodge, 1 Henbury Road
Westbury-on-Trym
Bristol
BS9 3HQ

PALETAS LIMITED (REGISTERED NUMBER: 13840206)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,200 9,600
Tangible assets 5 40,623 1,579
47,823 11,179

CURRENT ASSETS
Debtors 6 19,117 1,700
Cash at bank 16,787 774
35,904 2,474
CREDITORS
Amounts falling due within one year 7 64,971 4,821
NET CURRENT LIABILITIES (29,067 ) (2,347 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,756

8,832

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 18,656 8,732
18,756 8,832

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





Ms S H Davidson - Director


PALETAS LIMITED (REGISTERED NUMBER: 13840206)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Paletas 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PALETAS LIMITED (REGISTERED NUMBER: 13840206)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 12,000
AMORTISATION
At 1 February 2023 2,400
Charge for year 2,400
At 31 January 2024 4,800
NET BOOK VALUE
At 31 January 2024 7,200
At 31 January 2023 9,600

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 2,106
Additions 45,733
At 31 January 2024 47,839
DEPRECIATION
At 1 February 2023 527
Charge for year 6,689
At 31 January 2024 7,216
NET BOOK VALUE
At 31 January 2024 40,623
At 31 January 2023 1,579

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 11,006 -
Other debtors 8,111 1,700
19,117 1,700

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,564 2,693
Other creditors 62,407 2,128
64,971 4,821