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Registration number: 13163678

Pete Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 July 2024

 

Pete Ltd

Director's Report for the Year Ended 31 July 2024

The director presents his report and the abridged financial statements for the year ended 31 July 2024.

Director of the company

The director who held office during the year was as follows:

Mr Peter James Watson

Principal activity

The principal activity of the company is Holding company

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 22 April 2025
 

.........................................
Mr Peter James Watson
Director

 

Pete Ltd

(Registration number: 13163678)
Abridged Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

5

73,000

73,000

Current assets

 

Debtors

6

157,166

185,621

Cash at bank and in hand

 

24,599

1,628

 

181,765

187,249

Creditors: Amounts falling due within one year

(256,263)

-

Net current (liabilities)/assets

 

(74,498)

187,249

Total assets less current liabilities

 

(1,498)

260,249

Creditors: Amounts falling due after more than one year

-

(261,535)

Net liabilities

 

(1,498)

(1,286)

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

(1,698)

(1,486)

Shareholders' deficit

 

(1,498)

(1,286)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 22 April 2025
 

 

Pete Ltd

(Registration number: 13163678)
Abridged Balance Sheet as at 31 July 2024

.........................................
Mr Peter James Watson
Director

 

Pete Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3rd Floor
86-90 Paul Street
London
EC21 4NE

These financial statements were authorised for issue by the director on 22 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Pete Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Income from shares in group undertakings

(500,000)

-

 

Pete Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

73,000

73,000

At 31 July 2024

73,000

73,000

Impairment

Carrying amount

At 31 July 2024

73,000

73,000

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Share capital of £1 each

200

200

200

200

         

8

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £2,500.00 (2023 - £Nil) per ordinary share

 

500,000

 

-