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REGISTERED NUMBER: 00389785 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Palick Limited

Palick Limited (Registered number: 00389785)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Palick Limited (Registered number: 00389785)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 260,215 385,707

CURRENT ASSETS
Stocks 10,500 10,500
Debtors 5 906,748 630,979
Cash at bank and in hand 2,393,855 2,560,272
3,311,103 3,201,751
CREDITORS
Amounts falling due within one year 6 3,192,075 3,160,927
NET CURRENT ASSETS 119,028 40,824
TOTAL ASSETS LESS CURRENT LIABILITIES 379,243 426,531

CREDITORS
Amounts falling due after more than one year 7 (13,849 ) (41,548 )

PROVISIONS FOR LIABILITIES (39,406 ) (70,313 )
NET ASSETS 325,988 314,670

CAPITAL AND RESERVES
Called up share capital 7,010 7,010
Share premium 2,410 2,410
Other reserves 1,000 1,000
Retained earnings 315,568 304,250
SHAREHOLDERS' FUNDS 325,988 314,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

Palick Limited (Registered number: 00389785)

Balance Sheet - continued
30 September 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2025 and were signed on its behalf by:





Mr S A Wilkinson - Director


Palick Limited (Registered number: 00389785)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Palick Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00389785

Registered office: The Mill
Silverdale Road
Newcastle-under-Lyme
Staffordshire
ST5 2TA

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

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - not provided
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Palick Limited (Registered number: 00389785)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 15 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 October 2023 73,364 109,810 101,883
Additions - - -
Disposals - - -
At 30 September 2024 73,364 109,810 101,883
DEPRECIATION
At 1 October 2023 - 107,221 87,637
Charge for year - 647 3,561
Eliminated on disposal - - -
At 30 September 2024 - 107,868 91,198
NET BOOK VALUE
At 30 September 2024 73,364 1,942 10,685
At 30 September 2023 73,364 2,589 14,246

Palick Limited (Registered number: 00389785)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 18,349 661,681 24,898 989,985
Additions 291 - 6,740 7,031
Disposals - (176,743 ) - (176,743 )
At 30 September 2024 18,640 484,938 31,638 820,273
DEPRECIATION
At 1 October 2023 16,913 372,480 20,027 604,278
Charge for year 432 54,898 3,376 62,914
Eliminated on disposal - (107,134 ) - (107,134 )
At 30 September 2024 17,345 320,244 23,403 560,058
NET BOOK VALUE
At 30 September 2024 1,295 164,694 8,235 260,215
At 30 September 2023 1,436 289,201 4,871 385,707

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023 363,321
Transfer to ownership (39,000 )
At 30 September 2024 324,321
DEPRECIATION
At 1 October 2023 155,513
Charge for year 31,161
Transfer to ownership (22,547 )
At 30 September 2024 164,127
NET BOOK VALUE
At 30 September 2024 160,194
At 30 September 2023 207,808

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 484,447 524,829
Other debtors 422,301 106,150
906,748 630,979

Palick Limited (Registered number: 00389785)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 27,699 115,652
Trade creditors 128,858 216,857
Amounts owed to group undertakings 2,511,429 2,346,884
Taxation and social security 480,076 450,357
Other creditors 44,013 31,177
3,192,075 3,160,927

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 13,849 41,548

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 41,548 157,200

Hire purchase debts are secured against the asset to which they relate.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr S A Wilkinson
Balance outstanding at start of year (224 ) (151,324 )
Amounts advanced 695,956 451,324
Amounts repaid (427,795 ) (300,224 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 267,937 (224 )

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Palick Holdings Limited.