Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31true2falsefalse2024-01-01falseNo description of principal activity0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14971221 2023-12-31 14971221 2024-01-01 2024-12-31 14971221 2023-01-01 2023-12-31 14971221 2024-12-31 14971221 c:Director1 2024-01-01 2024-12-31 14971221 d:Buildings 2024-01-01 2024-12-31 14971221 d:Buildings 2024-12-31 14971221 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14971221 d:PlantMachinery 2024-01-01 2024-12-31 14971221 d:PlantMachinery 2024-12-31 14971221 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14971221 d:MotorVehicles 2024-01-01 2024-12-31 14971221 d:MotorVehicles 2024-12-31 14971221 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14971221 d:FurnitureFittings 2024-01-01 2024-12-31 14971221 d:FurnitureFittings 2024-12-31 14971221 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14971221 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14971221 d:CurrentFinancialInstruments 2024-12-31 14971221 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 14971221 d:ShareCapital 2024-12-31 14971221 d:SharePremium 2024-12-31 14971221 d:RetainedEarningsAccumulatedLosses 2024-12-31 14971221 c:FRS102 2024-01-01 2024-12-31 14971221 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 14971221 c:FullAccounts 2024-01-01 2024-12-31 14971221 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14971221 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 14971221










PACE PERFORMANCE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PACE PERFORMANCE LTD
REGISTERED NUMBER: 14971221

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
641,798

  
641,798

Current assets
  

Stocks
  
118,571

Debtors: amounts falling due within one year
 5 
341,288

Cash at bank and in hand
 6 
12,899

  
472,758

Creditors: amounts falling due within one year
 7 
(1,318,536)

Net current (liabilities)/assets
  
 
 
(845,778)

Total assets less current liabilities
  
(203,980)

  

Net (liabilities)/assets
  
(203,980)


Capital and reserves
  

Called up share capital 
  
95

Capital redemption reserve
  
5

Profit and loss account
  
(204,080)

  
(203,980)


Page 1

 
PACE PERFORMANCE LTD
REGISTERED NUMBER: 14971221
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 profit and loss account 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 28 March 2025.




Sean Byrne
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PACE PERFORMANCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Pace Performance Limited, 14971221, is a private limited company, incorporated in England and Wales, with a registered office address at 9 Halesfield, Telford, United Kingdom, TF7 4QW and a principal place of business at 9 Halesfield, Telford, United Kingdom, TF7 4QW.

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:

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

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.

Page 3

 
PACE PERFORMANCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
5%
straight line
Plant and machinery
-
33%
straight line
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
33%
straight line

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.

 
2.4

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 weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.5

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.

 
2.6

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.

 
2.7

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2.

Page 4

 
PACE PERFORMANCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


Additions
266,821
24,151
511,411
10,454
812,837


Disposals
-
-
(71,800)
-
(71,800)



At 31 December 2024

266,821
24,151
439,611
10,454
741,037



Depreciation


Charge for the year on owned assets
11,769
8,900
91,688
4,657
117,014


Disposals
-
-
(17,775)
-
(17,775)



At 31 December 2024

11,769
8,900
73,913
4,657
99,239



Net book value



At 31 December 2024
255,052
15,251
365,698
5,797
641,798

Page 5

 
PACE PERFORMANCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
£


Trade debtors
251,940

Other debtors
48,572

Prepayments and accrued income
40,776

341,288



6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
12,899

12,899



7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
274,602

Other taxation and social security
3,369

Other creditors
461,082

Accruals and deferred income
579,483

1,318,536


 
Page 6