Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity21truetruefalse 08393529 2023-04-01 2024-03-31 08393529 2022-04-01 2023-03-31 08393529 2024-03-31 08393529 2023-03-31 08393529 c:Director1 2023-04-01 2024-03-31 08393529 d:OfficeEquipment 2023-04-01 2024-03-31 08393529 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 08393529 d:OtherPropertyPlantEquipment 2024-03-31 08393529 d:OtherPropertyPlantEquipment 2023-03-31 08393529 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08393529 d:CurrentFinancialInstruments 2024-03-31 08393529 d:CurrentFinancialInstruments 2023-03-31 08393529 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08393529 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08393529 d:ShareCapital 2024-03-31 08393529 d:ShareCapital 2023-03-31 08393529 d:RetainedEarningsAccumulatedLosses 2024-03-31 08393529 d:RetainedEarningsAccumulatedLosses 2023-03-31 08393529 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08393529 c:OrdinaryShareClass1 2024-03-31 08393529 c:FRS102 2023-04-01 2024-03-31 08393529 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08393529 c:FullAccounts 2023-04-01 2024-03-31 08393529 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08393529 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08393529














PALOMBA TRADING LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
PALOMBA TRADING LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1
Notes to the Financial Statements
 
 
2 - 5

 
PALOMBA TRADING LIMITED
REGISTERED NUMBER:08393529

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,418
749

Current assets
  

Debtors: amounts falling due within one year
 5 
68,800
170,000

Cash at bank and in hand
  
392,140
279,611

  
460,940
449,611

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(90,904)
(83,380)

Net current assets
  
 
 
370,036
 
 
366,231

  

  

Net assets
  
372,454
366,980


Capital and reserves
  

Called up share capital 
 7 
100
1

Profit and loss account
  
372,354
366,979

  
372,454
366,980


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 November 2024.



A H J  Rivers
Director

The notes on pages 2 to 5 form part of these financial statements.
Page 1

 
PALOMBA TRADING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company's legal form is that of a private limited liability company incorporated in England & Wales. The Company's registered office and its principal place of business is at 16 Lambton Place, London, England, W11 2SH. 
The principal activity of the Company continued to be that of event management and consultancy. 
The Company's functional and presentational currency is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover represents revenue receivable for the provision of management and consultancy services, exclusive of Value Added Tax. 
Revenue is recognised on delivery of services. 

 
2.3

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated deprecation. 

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Debtors are measured at the transaction price, less any impairment. 

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

Page 2

 
PALOMBA TRADING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Creditors

Short term creditors are measured at the transaction price. 

 
2.7

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

 
2.8

Pensions

Defined contribution pension plan
The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The directors were the only employees of the Company during the current and preceding year. 

Page 3

 
PALOMBA TRADING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Office equipment

£



Cost 


At 1 April 2023
999


Additions
1,919



At 31 March 2024

2,918



Depreciation


At 1 April 2023
250


Charge for the year on owned assets
250



At 31 March 2024

500



Net book value



At 31 March 2024
2,418



At 31 March 2023
749

Page 4

 
PALOMBA TRADING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
28,800
120,000

Amounts owed by group undertakings
40,000
-

Other debtors
-
50,000

68,800
170,000



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Taxation and social security
86,100
80,520

Other creditors
2,204
260

Accruals and deferred income
2,600
2,600

90,904
83,380



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
1


On 8 February 2022, 99 Ordinary shares of £1 each were allotted and fully paid at par to provide additional working capital. This allotment of shares was omitted from the financial statements for the year ended 31 March 2022 and has been corrected in the current period.

 
Page 5