2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2024 - FRS102_2024 10,000 408 500 908 9,092 9,592 xbrli:pure xbrli:shares iso4217:GBP 14144573 2023-06-01 2023-11-28 14144573 2023-11-28 14144573 2023-05-31 14144573 2022-05-31 2023-05-31 14144573 2023-05-31 14144573 2022-05-30 14144573 core:NetGoodwill 2023-06-01 2023-11-28 14144573 bus:Director1 2023-06-01 2023-11-28 14144573 core:NetGoodwill 2023-05-31 14144573 core:NetGoodwill 2023-11-28 14144573 core:LandBuildings core:LongLeaseholdAssets 2023-11-28 14144573 core:PlantMachinery 2023-11-28 14144573 core:FurnitureFittings 2023-11-28 14144573 core:LandBuildings core:LongLeaseholdAssets 2023-06-01 2023-11-28 14144573 core:PlantMachinery 2023-06-01 2023-11-28 14144573 core:FurnitureFittings 2023-06-01 2023-11-28 14144573 core:ShareCapital 2022-05-31 2023-05-31 14144573 core:RetainedEarningsAccumulatedLosses 2022-05-31 2023-05-31 14144573 core:RetainedEarningsAccumulatedLosses 2023-06-01 2023-11-28 14144573 core:WithinOneYear 2023-11-28 14144573 core:WithinOneYear 2023-05-31 14144573 core:ShareCapital 2023-11-28 14144573 core:ShareCapital 2023-05-31 14144573 core:RetainedEarningsAccumulatedLosses 2023-11-28 14144573 core:RetainedEarningsAccumulatedLosses 2023-05-31 14144573 core:NetGoodwill 2023-05-31 14144573 core:LandBuildings core:LongLeaseholdAssets 2023-05-31 14144573 core:FurnitureFittings 2023-05-31 14144573 core:LandBuildings core:LongLeaseholdAssets 2023-05-31 14144573 core:FurnitureFittings 2023-05-31 14144573 bus:SmallEntities 2023-06-01 2023-11-28 14144573 bus:AuditExemptWithAccountantsReport 2023-06-01 2023-11-28 14144573 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2023-11-28 14144573 bus:PrivateLimitedCompanyLtd 2023-06-01 2023-11-28 14144573 bus:FullAccounts 2023-06-01 2023-11-28 14144573 core:KeyManagementPersonnel 2023-06-01 2023-11-28 14144573 core:AllAssociates 2023-06-01 2023-11-28
COMPANY REGISTRATION NUMBER: 14144573
The Pelican Deal Ltd
Filleted Unaudited Financial Statements
28 November 2023
The Pelican Deal Ltd
Financial Statements
Period from 1 June 2023 to 28 November 2023
Contents
Page
Statement of financial position
1
Statement of changes in equity
3
Notes to the financial statements
4
The Pelican Deal Ltd
Statement of Financial Position
28 November 2023
28 Nov 23
31 May 23
Note
£
£
Fixed assets
Intangible assets
5
9,092
9,592
Tangible assets
6
330,053
229,672
---------
---------
339,145
239,264
Current assets
Stocks
12,700
Debtors
7
32,796
15,730
Cash at bank and in hand
18,332
8,231
--------
--------
63,828
23,961
Creditors: amounts falling due within one year
8
450,995
285,077
---------
---------
Net current liabilities
387,167
261,116
---------
---------
Total assets less current liabilities
( 48,022)
( 21,852)
--------
--------
Net liabilities
( 48,022)
( 21,852)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 48,122)
( 21,952)
--------
--------
Shareholders deficit
( 48,022)
( 21,852)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 28 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
The Pelican Deal Ltd
Statement of Financial Position (continued)
28 November 2023
These financial statements were approved by the board of directors and authorised for issue on 19 February 2025 , and are signed on behalf of the board by:
Mr C Hicks
Director
Company registration number: 14144573
The Pelican Deal Ltd
Statement of Changes in Equity
Period from 1 June 2023 to 28 November 2023
Called up share capital
Profit and loss account
Total
£
£
£
At 31 May 2022
Loss for the period
( 21,952)
( 21,952)
----
--------
--------
Total comprehensive income for the period
( 21,952)
( 21,952)
Issue of shares
100
100
----
--------
--------
Total investments by and distributions to owners
100
100
At 31 May 2023
100
( 21,952)
( 21,852)
Loss for the period
( 26,170)
( 26,170)
----
--------
--------
Total comprehensive income for the period
( 26,170)
( 26,170)
----
--------
--------
At 28 November 2023
100
( 48,122)
( 48,022)
----
--------
--------
The Pelican Deal Ltd
Notes to the Financial Statements
Period from 1 June 2023 to 28 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Royal Buildings, The Strand, Walmer, Deal, Kent, CT14 7HD, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the directors. The Directors have confirmed it is their intention to continue to support the company for a period of at least 12 months from the date of approval of these financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fixtures and fittings - 25% straight line Long leasehold property - 2% straight line Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2023: Nil).
5. Intangible assets
Goodwill
£
Cost
At 1 June 2023 and 28 November 2023
10,000
--------
Amortisation
At 1 June 2023
408
Charge for the period
500
--------
At 28 November 2023
908
--------
Carrying amount
At 28 November 2023
9,092
--------
At 31 May 2023
9,592
--------
6. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 June 2023
168,550
61,122
229,672
Additions
81,736
13,126
5,519
100,381
---------
--------
--------
---------
At 28 November 2023
250,286
13,126
66,641
330,053
---------
--------
--------
---------
Depreciation
At 1 June 2023 and 28 November 2023
---------
--------
--------
---------
Carrying amount
At 28 November 2023
250,286
13,126
66,641
330,053
---------
--------
--------
---------
At 31 May 2023
168,550
61,122
229,672
---------
--------
--------
---------
7. Debtors
28 Nov 23
31 May 23
£
£
Other debtors
32,796
15,730
--------
--------
8. Creditors: amounts falling due within one year
28 Nov 23
31 May 23
£
£
Trade creditors
9,494
2,515
Other creditors
441,501
282,562
---------
---------
450,995
285,077
---------
---------
9. Related party transactions
As at the balance sheet date, the Director was owed £232,295 (May 2023: £135,712) by the company. No interest was charged on this balance. As at the balance sheet date, the company owed £201,881 (2023: £145,350) to companies connected by common control.