Registration number:
PAL Ventures Limited
for the Year Ended 30 September 2024
PAL Ventures Limited
(Registration number: 13830334)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Other financial assets |
921,443 |
2 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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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:
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• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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PAL Ventures Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
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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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
PAL Ventures Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Other financial assets (current and non-current) |
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Financial assets at fair value through profit and loss |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 October 2023 |
- |
2 |
2 |
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Fair value adjustments |
23,693 |
- |
23,693 |
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Additions |
897,750 |
- |
897,750 |
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Disposals |
- |
(2) |
(2) |
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At 30 September 2024 |
921,443 |
- |
921,443 |
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Impairment |
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Carrying amount |
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At 30 September 2024 |
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- |
921,443 |
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Debtors |
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2024 |
2023 |
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Amounts owed by related parties |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Amounts owed to related parties |
- |
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Taxation and social security |
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- |
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Accruals and deferred income |
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