Registered number
10178676
PIONEER CORPORATE LIMITED
Filleted Accounts
31 May 2024
PIONEER CORPORATE LIMITED
Registered number: 10178676
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 481,927 481,927
Creditors: amounts falling due within one year 4 (241,030) (237,501)
Net current liabilities (241,030) (237,501)
Total assets less current liabilities 240,897 244,426
Creditors: amounts falling due after more than one year 5 (294,682) (294,682)
Net liabilities (53,785) (50,256)
Capital and reserves
Called up share capital 100 100
Profit and loss account (53,885) (50,356)
Shareholder's funds (53,785) (50,256)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Rozmin Nathan
Director
Approved by the board on 6 February 2025
PIONEER CORPORATE LIMITED
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 June 2023 481,927
At 31 May 2024 481,927
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,362 7,364
Trade creditors 1,891 360
Other creditors 229,777 229,777
241,030 237,501
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 294,682 294,682
6 Other information
PIONEER CORPORATE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
4th Floor
18 St. Cross Street
London
EC1N 8UN
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