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Registration number: 13830334

PAL Ventures Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

PAL Ventures Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

PAL Ventures Limited

(Registration number: 13830334)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

921,443

2

Current assets

 

Debtors

5

1,045,773

350,100

Cash at bank and in hand

 

155,625

599,210

 

1,201,398

949,310

Creditors: Amounts falling due within one year

6

(13,129)

(905)

Net current assets

 

1,188,269

948,405

Net assets

 

2,109,712

948,407

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,109,612

948,307

Shareholders' funds

 

2,109,712

948,407

For the financial year ending 30 September 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 June 2025
 

.........................................
Mr P Ellis
Director

 

PAL Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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 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 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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

PAL Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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).

 

PAL Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2023

-

2

2

Fair value adjustments

23,693

-

23,693

Additions

897,750

-

897,750

Disposals

-

(2)

(2)

At 30 September 2024

921,443

-

921,443

Impairment

Carrying amount

At 30 September 2024

921,443

-

921,443

5

Debtors

2024
£

2023
£

Amounts owed by related parties

1,000,000

350,000

Other debtors

 

45,773

100

 

1,045,773

350,100

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Amounts owed to related parties

-

220

Taxation and social security

 

12,443

-

Accruals and deferred income

 

686

685

 

13,129

905