| Pink Elephant Group Ltd |
| Accountants' Report |
|
|
| Accountants' report to the director of |
| Pink Elephant Group Ltd |
|
| You consider that the company is exempt from an audit for the year ended 30 September 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
| S N R |
| Chartered Accountants |
|
| Office 2, First Floor |
| Duru House |
| 101 Commercial Road |
| London |
| E1 1RD |
|
| 29 March 2025 |
|
| Pink Elephant Group Ltd |
| Registered number: |
10953255 |
| Balance Sheet |
| as at 30 September 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
272,737 |
|
|
294,391 |
|
| Current assets |
| Stocks |
|
|
105,000 |
|
|
110,000 |
| Debtors |
4 |
|
187,659 |
|
|
128,488 |
| Cash at bank and in hand |
|
|
68,514 |
|
|
47,682 |
|
|
|
361,173 |
|
|
286,170 |
|
| Creditors: amounts falling due within one year |
5 |
|
(322,536) |
|
|
(235,074) |
|
| Net current assets |
|
|
|
38,637 |
|
|
51,096 |
|
| Total assets less current liabilities |
|
|
|
311,374 |
|
|
345,487 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(146,789) |
|
|
(167,221) |
|
|
|
| Net assets |
|
|
|
164,585 |
|
|
178,266 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
164,584 |
|
|
178,265 |
|
| Shareholder's funds |
|
|
|
164,585 |
|
|
178,266 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| I Rehman |
| Director |
| Approved by the board on 29 March 2025 |
|
| Pink Elephant Group Ltd |
| Notes to the Accounts |
| for the year ended 30 September 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 10 years |
|
Fixtures and fittings |
over 5 years |
|
Motor Vehicles |
over 5 years |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
33 |
|
33 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 October 2023 |
274,388 |
|
152,193 |
|
426,581 |
|
Additions |
26,822 |
|
- |
|
26,822 |
|
Disposals |
- |
|
(7,500) |
|
(7,500) |
|
At 30 September 2024 |
301,210 |
|
144,693 |
|
445,903 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2023 |
105,320 |
|
26,870 |
|
132,190 |
|
Charge for the year |
29,507 |
|
14,469 |
|
43,976 |
|
On disposals |
- |
|
(3,000) |
|
(3,000) |
|
At 30 September 2024 |
134,827 |
|
38,339 |
|
173,166 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2024 |
166,383 |
|
106,354 |
|
272,737 |
|
At 30 September 2023 |
169,068 |
|
125,323 |
|
294,391 |
|
|
| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Other debtors |
187,659 |
|
128,488 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade creditors |
15,000 |
|
10,078 |
|
Taxation and social security costs |
203,830 |
|
173,620 |
|
Other creditors |
103,706 |
|
51,376 |
|
|
|
|
|
|
322,536 |
|
235,074 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans |
16,667 |
|
26,003 |
|
Obligations under finance lease and hire purchase contracts |
130,122 |
|
141,218 |
|
|
|
|
|
|
146,789 |
|
167,221 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
Pink Elephant Group Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
483 Green Lanes |
|
London |
|
N13 4BS |