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REGISTERED NUMBER: 12954898 (England and Wales)




FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PATTERN SOLUTIONS LIMITED

PATTERN SOLUTIONS LIMITED (REGISTERED NUMBER: 12954898)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PATTERN SOLUTIONS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: T M Nunan





SECRETARY:





REGISTERED OFFICE: Sarginsons Industries
Torrington Avenue
Coventry
CV4 9AG





REGISTERED NUMBER: 12954898 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

PATTERN SOLUTIONS LIMITED (REGISTERED NUMBER: 12954898)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 92,930 100,237

CURRENT ASSETS
Stocks 11,388 7,500
Debtors 5 91,776 165,332
Cash at bank 14,456 2,616
117,620 175,448
CREDITORS
Amounts falling due within one year 6 190,680 130,852
NET CURRENT (LIABILITIES)/ASSETS (73,060 ) 44,596
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,870

144,833

CREDITORS
Amounts falling due after more than one
year

7

(35,845

)

(44,818

)

PROVISIONS FOR LIABILITIES 10 (7,429 ) (19,045 )
NET (LIABILITIES)/ASSETS (23,404 ) 80,970

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (23,504 ) 80,870
SHAREHOLDERS' FUNDS (23,404 ) 80,970

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 December 2024 and were signed by:





T M Nunan - Director


PATTERN SOLUTIONS LIMITED (REGISTERED NUMBER: 12954898)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Pattern Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

As at 31 March 2024 the balance sheet showed net liabilities of £23,404 (2023 - net assets of £80,970). The director believes the financial statements should still be prepared on a going concern basis due to his continued support, and the continued support of other group companies. Therefore, no accounting entries have been made to the financial statements to reflect any adjustments which may be required should this support be withdrawn.

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

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.
Plant and machinery - 20% on cost and 10% on cost
Motor vehicles - 33% 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 Income Statement, 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.

PATTERN SOLUTIONS LIMITED (REGISTERED NUMBER: 12954898)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 7 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 43,073 74,559 117,632
Additions 14,812 - 14,812
At 31 March 2024 57,885 74,559 132,444
DEPRECIATION
At 1 April 2023 4,189 13,206 17,395
Charge for year 8,913 13,206 22,119
At 31 March 2024 13,102 26,412 39,514
NET BOOK VALUE
At 31 March 2024 44,783 48,147 92,930
At 31 March 2023 38,884 61,353 100,237

PATTERN SOLUTIONS LIMITED (REGISTERED NUMBER: 12954898)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 74,559
DEPRECIATION
At 1 April 2023 13,206
Charge for year 13,206
At 31 March 2024 26,412
NET BOOK VALUE
At 31 March 2024 48,147
At 31 March 2023 61,353

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 58,849 124,202
Amounts owed by group undertakings 15,350 -
Tax - 31,489
Prepayments and accrued income 17,577 9,641
91,776 165,332

Included within trade debtors are balances totalling £58,849 (2023 - £Nil) that are subject to discounting arrangements. The trade debtor balances have been transferred to the counterpart, though the transaction does not qualify for derecognition on the basis that the reward is retained by the company. The associated liability recognised in other creditors is £44,059 (2023 - £Nil).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 10,873 11,868
Trade creditors 51,772 39,547
Social security and other taxes 4,297 29,094
VAT 15,162 21,043
Other creditors 105,951 17,140
Directors' current accounts - 10,735
Accruals and deferred income 2,625 1,425
190,680 130,852

PATTERN SOLUTIONS LIMITED (REGISTERED NUMBER: 12954898)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 35,845 44,818

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 10,873 11,868
Between one and five years 35,845 44,818
46,718 56,686

Non-cancellable operating leases
2024 2023
£    £   
Within one year 5,839 28,800
Between one and five years - 5,839
5,839 34,639

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 46,718 56,686
Other creditors 44,059 -
90,777 56,686

Hire purchase contracts are secured on the assets to which they relate

Other creditors are secured by a an all assets debenture containing fixed and floating charges over the assets of the company.

PATTERN SOLUTIONS LIMITED (REGISTERED NUMBER: 12954898)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 23,233 19,045
Tax losses carried forward (15,804 ) -
7,429 19,045

Deferred
tax
£   
Balance at 1 April 2023 19,045
Credit to Income Statement during year (11,616 )
Balance at 31 March 2024 7,429

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 April 2023 80,870
Deficit for the year (59,374 )
Dividends (45,000 )
At 31 March 2024 (23,504 )

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ashwani Rishiraj (Senior Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited

14. ULTIMATE CONTROLLING PARTY

The controlling party is T M Nunan.