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Registration number: 07759840

Pelagic Design Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 September 2024

Pelagic Design Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 7

Pelagic Design Limited

Company Information

Directors | Mr Andrew Bennett Mr Daniel Davy

Registered office | Admiralty House 2 Bank Place Falmouth Cornwall TR11 4AT

Accountants | Julia Evans Accountants Ltd 79-81 Boslowick Road Falmouth Road Falmouth Cornwall TR11 4QD

Pelagic Design Limited

(Registration number: 07759840)
Balance Sheet as at 30 September 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 2,488 | 2,545
Current assets |  |  |
Debtors | 5 | 25,335 | 30,719
Cash at bank and in hand |  | 3,452 | 12,481
|  | 28,787 | 43,200
Creditors: Amounts falling due within one year | 6 | (12,737) | (14,486)
Net current assets |  | 16,050 | 28,714
Total assets less current liabilities |  | 18,538 | 31,259
Provisions for liabilities |  | (473) | (484)
Net assets |  | 18,065 | 30,775
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Retained earnings |  | 18,063 | 30,773
Shareholders' funds |  | 18,065 | 30,775

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Pelagic Design Limited

(Registration number: 07759840)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 17 June 2025 and signed on its behalf by:

......................................... Mr Andrew Bennett Director
......................................... Mr Daniel Davy Director

Pelagic Design 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 & Wales.

The address of its registered office is:
Admiralty House
2 Bank Place
Falmouth
Cornwall
TR11 4AT

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

Taxation represents the sum of tax currently payable and deferred tax.
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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.

Pelagic Design Limited

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

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture, fittings and equipment | 20% reducing balance

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 directors) during the year, was 2 (2023 - 2).

Pelagic Design Limited

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

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 October 2023 | 5,761 | 5,761
Additions | 697 | 697
Disposals | (627) | (627)
At 30 September 2024 | 5,831 | 5,831
Depreciation
At 1 October 2023 | 3,216 | 3,216
Charge for the year | 622 | 622
Eliminated on disposal | (495) | (495)
At 30 September 2024 | 3,343 | 3,343
Carrying amount
At 30 September 2024 | 2,488 | 2,488
At 30 September 2023 | 2,545 | 2,545

5 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 20,612 | 1,601
Prepayments | 1,040 | 1,508
Other debtors | 3,683 | 27,610
| 25,335 | 30,719

Pelagic Design Limited

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

6 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Trade creditors | 1,618 | 232
Taxation and social security | 6,812 | 10,679
Accruals and deferred income | 1,240 | 1,094
Other creditors | 3,067 | 2,481
| 12,737 | 14,486