Registered number
08871840
PASK LTD
Filleted Accounts
31 May 2024
PASK LTD
Registered number: 08871840
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 1,795 2,244
Current assets
Debtors 5 174,705 145,513
Cash at bank and in hand 158,809 60,482
333,514 205,995
Creditors: amounts falling due within one year 6 (216,279) (137,044)
Net current assets 117,235 68,951
Total assets less current liabilities 119,030 71,195
Creditors: amounts falling due after more than one year 7 (20,833) (30,834)
Provisions for liabilities (341) (426)
Net assets 97,856 39,935
Capital and reserves
Called up share capital 4 4
Profit and loss account 97,852 39,931
Shareholders' funds 97,856 39,935
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Bones
Director
Approved by the board on 25 June 2024
PASK LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 20,000
At 31 May 2024 20,000
Amortisation
At 1 June 2023 20,000
At 31 May 2024 20,000
Net book value
At 31 May 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Office equipment
£
Cost
At 1 June 2023 4,762
At 31 May 2024 4,762
Depreciation
At 1 June 2023 2,518
Charge for the year 449
At 31 May 2024 2,967
Net book value
At 31 May 2024 1,795
At 31 May 2023 2,244
5 Debtors 2024 2023
£ £
Trade debtors 173,220 144,728
Other debtors and prepayments 1,485 785
174,705 145,513
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 184,183 107,987
Taxation and social security costs 31,031 28,029
Other creditors and accruals 1,065 1,028
216,279 137,044
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,833 30,834
8 Other information
PASK LTD is a private company limited by shares and incorporated in England. Its registered office is:
Pask Ltd t/a Inxpress Derby
Office 20 Toll Bar House
Ilkeston
Derbyshire
DE7 5FH
PASK LTD 08871840 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 A Bones No description of principal activity 08871840 2022-06-01 2023-05-31 08871840 core:WithinOneYear 2023-05-31 08871840 core:AfterOneYear 2023-05-31 08871840 core:ShareCapital 2023-05-31 08871840 core:RetainedEarningsAccumulatedLosses 2023-05-31 08871840 2023-06-01 2024-05-31 08871840 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08871840 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08871840 bus:Director40 2023-06-01 2024-05-31 08871840 1 2023-06-01 2024-05-31 08871840 2 2023-06-01 2024-05-31 08871840 core:PlantMachinery 2023-06-01 2024-05-31 08871840 countries:England 2023-06-01 2024-05-31 08871840 bus:FRS102 2023-06-01 2024-05-31 08871840 bus:FilletedAccounts 2023-06-01 2024-05-31 08871840 2024-05-31 08871840 core:WithinOneYear 2024-05-31 08871840 core:AfterOneYear 2024-05-31 08871840 core:ShareCapital 2024-05-31 08871840 core:RetainedEarningsAccumulatedLosses 2024-05-31 08871840 core:Goodwill 2024-05-31 08871840 core:PlantMachinery 2024-05-31 08871840 2023-05-31 08871840 core:Goodwill 2023-05-31 08871840 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure