Company Registration No. 01712858 (England and Wales)
PAM GOLDING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
PAM GOLDING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PAM GOLDING LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
285
379
Current assets
Debtors
4
627,173
542,527
Investments
5
130
130
Cash at bank and in hand
408,144
309,975
1,035,447
852,632
Creditors: amounts falling due within one year
6
(626,715)
(435,746)
Net current assets
408,732
416,886
Total assets less current liabilities
409,017
417,265
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
408,017
416,265
Total equity
409,017
417,265

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved and signed by the director and authorised for issue on 26 November 2024
A. M. Golding
Director
Company Registration No. 01712858
PAM GOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information

Pam Golding Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the year-end, the company had net current trueassets of £410,446 and net assets of £410,731. The company is reliant on the financial support of its fellow subsidiary Pam Golding Properties (Pty) Limited which has confirmed that the repayment of the loan amounting to £610,001 will not be sought from the company for a period of at least 12 months after the date of approval of these financial statements and until it has the cash to be able to repay the loan.

 

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents royalties receivable for the period for the use of the company's intellectual property.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Amortisation is recognised so as to write off the cost of the trademark if it is deemed to not produce revenue for the foreseeable future.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PAM GOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax is provided in full on material timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the accounts. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the assets. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
1.9
Foreign exchange
Transactions denominated in foreign currencies are recorded at the rate of exchange ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are taken to profit and loss account.
2
Employees

There were no employees during the year or previous year.

PAM GOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
3
Intangible fixed assets
Trademark
£
Cost
At 1 March 2023 and 29 February 2024
945
Amortisation and impairment
At 1 March 2023
566
Amortisation charged for the year
94
At 29 February 2024
660
Carrying amount
At 29 February 2024
285
At 28 February 2023
379
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
626,735
540,390
Other debtors
438
2,137
627,173
542,527
5
Current asset investments
2024
2023
£
£
Other investments
130
130

 

6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
610,001
422,246
Corporation tax
1,714
-
0
Accruals and deferred income
15,000
13,500
626,715
435,746
PAM GOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Gilles Siow.
The auditor was HW Fisher Audit.
8
Post balance sheet events

On 08 March 2024, a French subsidiary Pam Golding Properties Paris was incorporated with 10,000 Ordinary shares (nominal value €1) issued, of which Pam Golding Limited owns 80%.

The registered address of this subsidiary is 78 Rue de Sèvres, 75007 Paris.

9
Parent company

The company's controlling party is Pam Golding International Holdings (Pty) Limited, a company incorporated in South Africa. The directors have not prepared consolidated financial statements, as they believe that the shareholder and users of the

financial statements will gain limited benefit from the preparation of the consolidated financial statements.

 

The ultimate parent undertaking is The Golding Family Trust, which is controlled by its trustees, namely A.M. Golding, P.A. Golding and J.D. Drummond.

 

The smallest group for which the company is a member is Pam Golding International Holdings (Pty) Limited. The largest group for which it is a member is Golding Family Trust.

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