Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
|
|
|
Tangible assets | 4 |
|
|
|
152,173 | 135,029 | |||
Current assets | ||||
Stocks |
|
|
||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
1,112,606 | 982,072 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current assets | 839,316 | 676,805 | ||
Total assets less current liabilities | 991,489 | 811,834 | ||
Creditors: amounts falling due after more than one year | 7 |
|
(
|
|
Provision for liabilities | 8 | (
|
(
|
|
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 9 |
|
|
|
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of PAC 2015 Limited (registered number:
Steven Johnstone
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
PAC 2015 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Camp Green Kenton Road, Debenham, Stowmarket, IP14 6LA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Computer software |
|
Trademarks, patents and licences |
|
Leasehold improvements | depreciated over the life of the lease |
Plant and machinery |
|
Vehicles |
|
Fixtures and fittings |
|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Computer software | Trademarks, patents and licences |
Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2024 |
|
|
|
||
Additions |
|
|
|
||
At 31 December 2024 |
|
|
|
||
Accumulated amortisation | |||||
At 01 January 2024 |
|
|
|
||
At 31 December 2024 |
|
|
|
||
Net book value | |||||
At 31 December 2024 |
|
|
|
||
At 31 December 2023 |
|
|
|
Leasehold improve- ments |
Plant and machinery | Vehicles | Fixtures and fittings | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 January 2024 |
|
|
|
|
|
||||
Additions |
|
|
|
|
|
||||
Disposals |
|
(
|
|
|
(
|
||||
At 31 December 2024 |
|
|
|
|
|
||||
Accumulated depreciation | |||||||||
At 01 January 2024 |
|
|
|
|
|
||||
Charge for the financial year |
|
|
|
|
|
||||
Disposals |
|
(
|
|
|
(
|
||||
At 31 December 2024 |
|
|
|
|
|
||||
Net book value | |||||||||
At 31 December 2024 |
|
|
|
|
|
||||
At 31 December 2023 |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
|
|
|
Amounts owed by directors |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Trade creditors |
|
|
|
Amounts owed to directors |
|
|
|
Accruals |
|
|
|
Taxation and social security |
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
Other creditors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Obligations under finance leases and hire purchase contracts |
|
|
2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year | (
|
(
|
|
(Charged)/credited to the Income Statement | (
|
|
|
At the end of financial year | (
|
(
|
2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
672.00 | 614.20 |