Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31false2023-09-01false44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04805927 2023-09-01 2024-08-31 04805927 2022-09-01 2023-08-31 04805927 2024-08-31 04805927 2023-08-31 04805927 c:Director1 2023-09-01 2024-08-31 04805927 d:FurnitureFittings 2023-09-01 2024-08-31 04805927 d:FurnitureFittings 2024-08-31 04805927 d:FurnitureFittings 2023-08-31 04805927 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04805927 d:Goodwill 2023-09-01 2024-08-31 04805927 d:Goodwill 2024-08-31 04805927 d:Goodwill 2023-08-31 04805927 d:CurrentFinancialInstruments 2024-08-31 04805927 d:CurrentFinancialInstruments 2023-08-31 04805927 d:Non-currentFinancialInstruments 2024-08-31 04805927 d:Non-currentFinancialInstruments 2023-08-31 04805927 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 04805927 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 04805927 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 04805927 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 04805927 d:ShareCapital 2024-08-31 04805927 d:ShareCapital 2023-08-31 04805927 d:RetainedEarningsAccumulatedLosses 2024-08-31 04805927 d:RetainedEarningsAccumulatedLosses 2023-08-31 04805927 c:FRS102 2023-09-01 2024-08-31 04805927 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 04805927 c:FullAccounts 2023-09-01 2024-08-31 04805927 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04805927 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 04805927










4PAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
4PAL LIMITED
REGISTERED NUMBER: 04805927

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
656
875

  
656
875

Current assets
  

Stocks
  
61,391
64,495

Debtors: amounts falling due within one year
 6 
74,289
134,544

Cash at bank and in hand
  
101,540
90,247

  
237,220
289,286

Creditors: amounts falling due within one year
 7 
(192,124)
(214,079)

Net current assets
  
 
 
45,096
 
 
75,207

Total assets less current liabilities
  
45,752
76,082

Creditors: amounts falling due after more than one year
 8 
(6,781)
(18,912)

Provisions for liabilities
  

Deferred tax
  
(104)
(141)

  
 
 
(104)
 
 
(141)

Net assets
  
38,867
57,029


Capital and reserves
  

Called up share capital 
  
105
105

Profit and loss account
  
38,762
56,924

  
38,867
57,029


Page 1

 
4PAL LIMITED
REGISTERED NUMBER: 04805927
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider 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 directors acknowledge their 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 income statement 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 11 March 2025.




Mr I Ahmed
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
4PAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

4Pal Limited is a private company, limited by share capital, incorporated in England and Wales under registration number 04805927. The address of the company's registered office is Level 5A, Maple House, 149 Tottenham Court Road, London, W1T 7NF.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Operating leases: the Company as lessee

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

Page 3

 
4PAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

Page 4

 
4PAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

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 reporting 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.

 
2.9

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.

 
2.10

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.

 
2.11

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

 
4PAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Intangible assets




Goodwill

£



Cost


At 1 September 2023
355,808



At 31 August 2024

355,808



Amortisation


At 1 September 2023
355,808



At 31 August 2024

355,808



Net book value



At 31 August 2024
-



At 31 August 2023
-



Page 6

 
4PAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 September 2023
19,685



At 31 August 2024

19,685



Depreciation


At 1 September 2023
18,811


Charge for the year on owned assets
218



At 31 August 2024

19,029



Net book value



At 31 August 2024
656



At 31 August 2023
874


6.


Debtors

2024
2023
£
£


Trade debtors
50,554
54,750

VAT repayable
20,102
76,245

Prepayments and accrued income
3,633
3,549

74,289
134,544


Page 7

 
4PAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,758
17,603

Trade creditors
108,288
124,707

Corporation tax
10,759
38,386

Other taxation and social security
312
66

Directors' loan account
61,175
33,317

Accruals and deferred income
832
-

192,124
214,079


Bank loan of £Nil (2023 - £9,017) is secured by a fixed and floating charge over the assets of the
company and £10,758 (2023 - £8,586) is unsecured bounce back loan.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,781
18,912

6,781
18,912


Bank loan £6,781 (2023 - £18,912) is unsecured bounce back loan.


9.


Controlling party

The company is under the common control of the directors Mr I Ahmed (33.34% share); Mr M Ahmed (33.33% share) and Mr N Ahmed 33.33% share), by virtue of the fact that between them the own 100% of the issued share capital of the company.

 
Page 8