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REGISTERED NUMBER: 05091215 (England and Wales)















Financial Statements for the Year Ended 28 April 2024

for

Pace Homes Limited

Pace Homes Limited (Registered number: 05091215)






Contents of the Financial Statements
for the Year Ended 28 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pace Homes Limited

Company Information
for the Year Ended 28 April 2024







DIRECTORS: H Foster
Mrs S Foster





REGISTERED OFFICE: Mill Farm
Bull Bridge Lane
Aintree
Liverpool
Merseyside
L10 6LZ





REGISTERED NUMBER: 05091215 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Pace Homes Limited (Registered number: 05091215)

Balance Sheet
28 April 2024

28.4.24 28.4.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 6,185 101
Investments 5 16,133 16,333
22,318 16,434

CURRENT ASSETS
Stocks 848,393 777,016
Debtors 6 491,465 472,027
Cash at bank 1,537 2,118
1,341,395 1,251,161
CREDITORS
Amounts falling due within one year 7 1,330,482 1,224,788
NET CURRENT ASSETS 10,913 26,373
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,231

42,807

CREDITORS
Amounts falling due after more than one
year

8

(14,216

)

(20,833

)

PROVISIONS FOR LIABILITIES (1,548 ) -
NET ASSETS 17,467 21,974

CAPITAL AND RESERVES
Called up share capital 104 104
Share premium 16,033 16,033
Retained earnings 1,330 5,837
SHAREHOLDERS' FUNDS 17,467 21,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Pace Homes Limited (Registered number: 05091215)

Balance Sheet - continued
28 April 2024


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 Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





H Foster - Director


Pace Homes Limited (Registered number: 05091215)

Notes to the Financial Statements
for the Year Ended 28 April 2024

1. STATUTORY INFORMATION

Pace Homes 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the construction fees received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised when the services are complete.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost. A provision for impairment is made where necessary.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

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.


Pace Homes Limited (Registered number: 05091215)

Notes to the Financial Statements - continued
for the Year Ended 28 April 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 29 April 2023 11,041
Additions 7,638
At 28 April 2024 18,679
DEPRECIATION
At 29 April 2023 10,940
Charge for year 1,554
At 28 April 2024 12,494
NET BOOK VALUE
At 28 April 2024 6,185
At 28 April 2023 101

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 29 April 2023 16,333
Disposals (200 )
At 28 April 2024 16,133
NET BOOK VALUE
At 28 April 2024 16,133
At 28 April 2023 16,333

Pace Homes Limited (Registered number: 05091215)

Notes to the Financial Statements - continued
for the Year Ended 28 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.4.24 28.4.23
£    £   
Trade debtors - 4,570
Amounts owed by group undertakings 242,857 243,657
Other debtors 248,608 223,800
491,465 472,027

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.4.24 28.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 61,501 19,709
Amounts owed to group undertakings 539,622 300,999
Taxation and social security 40,537 40,537
Other creditors 678,822 853,543
1,330,482 1,224,788

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.4.24 28.4.23
£    £   
Bank loans 14,216 20,833