2023-04-012024-03-312024-03-31false11087933PELOTAN 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PELOTAN LIMITED

Registered Number
11087933
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

PELOTAN LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

T Austen

Registered Address

Bg Futures
Longdales Road
Lincoln
LN1 3DY

Registered Number

11087933 (England and Wales)
PELOTAN LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3244325
244325
Current assets
Stocks424,3009,730
Debtors514,9413,841
Cash at bank and on hand76577
40,00613,648
Creditors amounts falling due within one year6(46,946)(17,137)
Net current assets (liabilities)(6,940)(3,489)
Total assets less current liabilities(6,696)(3,164)
Creditors amounts falling due after one year7(1,404)(2,605)
Net assets(8,100)(5,769)
Capital and reserves
Called up share capital100100
Share premium17,40017,400
Profit and loss account(25,600)(23,269)
Shareholders' funds(8,100)(5,769)
The financial statements were approved and authorised for issue by the Director on 17 October 2024, and are signed on its behalf by:
T Austen
Director
Registered Company No. 11087933
PELOTAN LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
Although the company's balance sheet shows a net deficit, the director has indicated he will continue to support the company for the foreseeable future therefore the financial statements have been prepared on a going concern basis.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 April 231,0271,027
At 31 March 241,0271,027
Depreciation and impairment
At 01 April 23702702
Charge for year8181
At 31 March 24783783
Net book value
At 31 March 24244244
At 31 March 23325325
4.Stocks

2024

2023

££
Other stocks24,3009,730
Total24,3009,730
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables14,9413,841
Total14,9413,841
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,8004,801
Bank borrowings and overdrafts8,0386,055
Amounts owed to related parties30,846360
Other creditors4,8344,522
Accrued liabilities and deferred income1,4281,399
Total46,94617,137
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,4042,605
Total1,4042,605
8.Guarantees provided on behalf of directors
The bank overdraft is personally guaranteed by the director, T Austen.
9.Related party transactions
Summary of transactions with parent A loan account exists between the company and its parent, Talent Matters Consulting Limited. At the balance sheet date, the amount owed to Talent Matters Consulting Limited was £30,846 (2023 - £360).