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REGISTERED NUMBER: 12016735 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023

FOR

PILOTE CLASSICS LIMITED

PILOTE CLASSICS LIMITED (REGISTERED NUMBER: 12016735)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31st May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PILOTE CLASSICS LIMITED

COMPANY INFORMATION
For The Year Ended 31st May 2023







DIRECTORS: Jonathan David Potts
Graeme John Potts
Gary John Potts





REGISTERED OFFICE: Unit 15
Bensham Street
Boldon Colliery
NE35 9LN





REGISTERED NUMBER: 12016735 (England and Wales)





ACCOUNTANTS: CPT
Chartered Certified Accountants
80 Victoria Road
Darlington
County Durham
DL1 5JG

PILOTE CLASSICS LIMITED (REGISTERED NUMBER: 12016735)

BALANCE SHEET
31st May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 150,868 160,830

CURRENT ASSETS
Inventories 137,695 516,000
Debtors 5 34,724 74,136
Cash at bank and in hand 59,969 180,923
232,388 771,059
CREDITORS
Amounts falling due within one year 6 445,154 489,114
NET CURRENT (LIABILITIES)/ASSETS (212,766 ) 281,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

(61,898

)

442,775

CREDITORS
Amounts falling due after more than one
year

7

(20,000

)

(30,000

)

PROVISIONS FOR LIABILITIES - (4,133 )
NET (LIABILITIES)/ASSETS (81,898 ) 408,642

CAPITAL AND RESERVES
Called up share capital 8 450,102 450,102
Retained earnings (532,000 ) (41,460 )
SHAREHOLDERS' FUNDS (81,898 ) 408,642

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 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.

PILOTE CLASSICS LIMITED (REGISTERED NUMBER: 12016735)

BALANCE SHEET - continued
31st May 2023


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 6th January 2025 and were signed on its behalf by:




Jonathan David Potts - Director



Gary John Potts - Director


PILOTE CLASSICS LIMITED (REGISTERED NUMBER: 12016735)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31st May 2023

1. STATUTORY INFORMATION

Pilote Classics 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Plant and machinery - 33% on cost and 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Office and computer equipment - 33% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

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.


PILOTE CLASSICS LIMITED (REGISTERED NUMBER: 12016735)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31st May 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1st June 2022 96,009 31,032 52,927
Additions 8,125 2,368 -
Disposals - (14,500 ) -
At 31st May 2023 104,134 18,900 52,927
DEPRECIATION
At 1st June 2022 18,223 5,798 9,345
Charge for year 10,064 5,252 5,293
Eliminated on disposal - (2,654 ) -
At 31st May 2023 28,287 8,396 14,638
NET BOOK VALUE
At 31st May 2023 75,847 10,504 38,289
At 31st May 2022 77,786 25,234 43,582

PILOTE CLASSICS LIMITED (REGISTERED NUMBER: 12016735)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31st May 2023

4. PROPERTY, PLANT AND EQUIPMENT - continued

Office
and
Motor computer
vehicles equipment Totals
£    £    £   
COST
At 1st June 2022 4,243 20,530 204,741
Additions 22,395 3,050 35,938
Disposals - - (14,500 )
At 31st May 2023 26,638 23,580 226,179
DEPRECIATION
At 1st June 2022 458 10,087 43,911
Charge for year 6,545 6,900 34,054
Eliminated on disposal - - (2,654 )
At 31st May 2023 7,003 16,987 75,311
NET BOOK VALUE
At 31st May 2023 19,635 6,593 150,868
At 31st May 2022 3,785 10,443 160,830

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 1,996 52,035
Directors' current accounts - 1,364
Tax 460 460
VAT 17,921 6,400
Prepayments 14,347 13,877
34,724 74,136

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 48,675 21,496
Tax 460 460
Social security and other taxes 8,718 5,493
Other creditors 196,500 264,401
Directors' current accounts 180,801 183,142
Accrued expenses - 4,122
445,154 489,114

PILOTE CLASSICS LIMITED (REGISTERED NUMBER: 12016735)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31st May 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 20,000 30,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £
102 Ordinary £1 102
150,000 Ordinary A £1 150,000
150,000 Ordinary B £1 150,000
150,000 Ordinary C £1 150,000
450,102



The following shares were allotted and fully paid for cash at par during the period:

150,000 Ordinary A shares of £1 each
150,000 Ordinary B shares of £1 each
150,000 Ordinary C shares of £1 each

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2023 and 31st May 2022:

31.5.23 31.5.22
£    £   
Gary John Potts
Balance outstanding at start of year 1,364 (193,527 )
Amounts advanced 12,841 195,497
Amounts repaid (14,206 ) (606 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1 ) 1,364

10. RELATED PARTY DISCLOSURES

At the year end, amounts totalling £180,801 (2022: £183,142) were due to the Directors of the company. There are no terms for repayment nor interest accruing on those balances.

Included in other creditors is an amount of £196,500 (2022: £196,500) due to a close family member of the Directors. There are no terms for repayment nor interest accruing on this balance.