Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falseproperty assistance and compliance11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10765212 2023-06-01 2024-05-31 10765212 2022-06-01 2023-05-31 10765212 2024-05-31 10765212 2023-05-31 10765212 c:Director1 2023-06-01 2024-05-31 10765212 c:RegisteredOffice 2023-06-01 2024-05-31 10765212 d:CurrentFinancialInstruments 2024-05-31 10765212 d:CurrentFinancialInstruments 2023-05-31 10765212 d:Non-currentFinancialInstruments 2024-05-31 10765212 d:Non-currentFinancialInstruments 2023-05-31 10765212 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10765212 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10765212 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 10765212 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 10765212 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 10765212 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 10765212 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 10765212 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 10765212 d:ShareCapital 2024-05-31 10765212 d:ShareCapital 2023-05-31 10765212 d:RetainedEarningsAccumulatedLosses 2024-05-31 10765212 d:RetainedEarningsAccumulatedLosses 2023-05-31 10765212 c:OrdinaryShareClass1 2023-06-01 2024-05-31 10765212 c:OrdinaryShareClass1 2024-05-31 10765212 c:OrdinaryShareClass1 2023-05-31 10765212 c:FRS102 2023-06-01 2024-05-31 10765212 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 10765212 c:FullAccounts 2023-06-01 2024-05-31 10765212 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10765212 2 2023-06-01 2024-05-31 10765212 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10765212










P.A.C. MANAGEMENT SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
P.A.C. MANAGEMENT SERVICES LIMITED
 
 
COMPANY INFORMATION


Director
M D Wigginton 




Registered number
10765212



Registered office
7 The Close

Norwich

Norfolk

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

12 Church Street

Cromer

Norfolk

NR27 9ER





 
P.A.C. MANAGEMENT SERVICES LIMITED
 

CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 8


 
P.A.C. MANAGEMENT SERVICES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF P.A.C. MANAGEMENT SERVICES LIMITED
FOR THE YEAR ENDED 31 MAY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P.A.C. Management Services Limited for the year ended 31 May 2024 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the director of P.A.C. Management Services Limited in accordance with the terms of our engagement letter dated 27 September 2021Our work has been undertaken solely to prepare for your approval the financial statements of P.A.C. Management Services Limited and state those matters that we have agreed to state to the director of P.A.C. Management Services Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P.A.C. Management Services Limited and its director for our work or for this report. 

It is your duty to ensure that P.A.C. Management Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P.A.C. Management Services Limited. You consider that P.A.C. Management Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of P.A.C. Management Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
31 January 2025
Page 1

 
P.A.C. MANAGEMENT SERVICES LIMITED
REGISTERED NUMBER: 10765212

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
4,096
4,537

Debtors: amounts falling due within one year
 4 
484
415

Cash at bank and in hand
  
6,811
3,834

  
11,391
8,786

Creditors: amounts falling due within one year
 5 
(8,923)
(11,142)

Net current assets/(liabilities)
  
 
 
2,468
 
 
(2,356)

Total assets less current liabilities
  
2,468
(2,356)

Creditors: amounts falling due after more than one year
 6 
(2,200)
(4,400)

  

Net assets/(liabilities)
  
268
(6,756)


Capital and reserves
  

Share capital
  
100
100

Profit and loss account
  
168
(6,856)

  
268
(6,756)


Page 2

 
P.A.C. MANAGEMENT SERVICES LIMITED
REGISTERED NUMBER: 10765212
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers 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 director acknowledges his 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 income and retained earnings 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 31 January 2025.




M D Wigginton
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
P.A.C. MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

P.A.C. Management Services Limited is a private company, limited by shares, registered and domiciled in England and Wales. The address of the registered office is 7 The Close, Norwich, England, NR1 4DJ.
The Company's principal activities are that of property assistance and compliance.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
P.A.C. MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.


 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
P.A.C. MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
10,080
9,830

Social security costs
69
113

10,149
9,943


The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Debtors

2024
2023
£
£


Prepayments and accrued income
484
415

484
415


Page 6

 
P.A.C. MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
2,200
2,200

Corporation tax
4,697
4,623

Other creditors
1,083
3,305

Accruals and deferred income
943
1,014

8,923
11,142



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,200
4,400

2,200
4,400


Page 7

 
P.A.C. MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
2,200
2,200


2,200
2,200

Amounts falling due 1-2 years

Bank loans
2,200
2,200


2,200
2,200

Amounts falling due 2-5 years

Bank loans
-
2,200


-
2,200


4,400
6,600



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


9.


Related party transactions

As at 31 May 2024, the balance owed to the director was £1,083 (2023: £3,305) and is included in other creditors due within one year in note 5 to the financial statements. The loan is interest free and repayable on demand.

 
Page 8