Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-08-01falseNo description of principal activity35falsetruefalse 07583337 2023-08-01 2024-07-31 07583337 2022-08-01 2023-07-31 07583337 2024-07-31 07583337 2023-07-31 07583337 c:Director1 2023-08-01 2024-07-31 07583337 d:FurnitureFittings 2023-08-01 2024-07-31 07583337 d:FurnitureFittings 2024-07-31 07583337 d:FurnitureFittings 2023-07-31 07583337 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07583337 d:CurrentFinancialInstruments 2024-07-31 07583337 d:CurrentFinancialInstruments 2023-07-31 07583337 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 07583337 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07583337 d:ShareCapital 2024-07-31 07583337 d:ShareCapital 2023-07-31 07583337 d:RetainedEarningsAccumulatedLosses 2024-07-31 07583337 d:RetainedEarningsAccumulatedLosses 2023-07-31 07583337 c:FRS102 2023-08-01 2024-07-31 07583337 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 07583337 c:FullAccounts 2023-08-01 2024-07-31 07583337 c:CompanyLimitedByGuarantee 2023-08-01 2024-07-31 07583337 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 07583337










PASINI PROMOTIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
PASINI PROMOTIONS LIMITED
REGISTERED NUMBER: 07583337

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
1

  
-
1

Current assets
  

Debtors: amounts falling due within one year
 5 
143
683

Cash at bank and in hand
  
30
169

  
173
852

Creditors: amounts falling due within one year
 6 
(171,359)
(162,248)

Net current liabilities
  
 
 
(171,186)
 
 
(161,396)

Total assets less current liabilities
  
(171,186)
(161,395)

  

Net liabilities
  
(171,186)
(161,395)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(171,286)
(161,495)

  
(171,186)
(161,395)


Page 1

 
PASINI PROMOTIONS LIMITED
REGISTERED NUMBER: 07583337
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 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 income statement 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 by: 




................................................
P Tonkinson
Director

Date: 28 April 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PASINI PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Pasini Promotions Limited is a private limited company, limited by shares, registered in England and Wales. The registered office is 45 North Hill, Colchester, CO1 1PY. 

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

Going concern

The directors have considered the company's position at the time of signing the financial statements, and in particular the company's financial strength along with the strength of the wider group. In addition, the directors have confirmed that they have received assurances from the controlling party that it will continue to financially support the company and does not intend withdraw such support in the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements.
Based on all of this, the directors have concluded that they have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.
The preparation of financial statements in compliance with FRS 102, Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.







Page 3

 
PASINI PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Turnover

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

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.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.7

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 4

 
PASINI PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.7
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:

Fixtures and fittings
-
20%
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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially
Page 5

 
PASINI PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 5).

Page 6

 
PASINI PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 August 2023
1,544



At 31 July 2024

1,544



Depreciation


At 1 August 2023
1,543


Charge for the year on owned assets
1



At 31 July 2024

1,544



Net book value



At 31 July 2024
-



At 31 July 2023
1

Page 7

 
PASINI PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
126
126

Other debtors
17
557

143
683



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
158,579
149,244

Taxation and social security
-
1,991

Other creditors
11,030
10,188

Accruals
1,750
825

171,359
162,248


 
Page 8