Company Registration No. 10773590 (England and Wales)
Pax-Bags Limited
Unaudited accounts
for the year ended 31 December 2024
Pax-Bags Limited
Unaudited accounts
Contents
Pax-Bags Limited
Company Information
for the year ended 31 December 2024
Company Number
10773590 (England and Wales)
Registered Office
Merlin House
No 1 Langstone Business Park
Newport
NP18 2HJ
Accountants
Evans Entwistle
Venta House
Maes-glas
Newport
NP20 2NS
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Pax-Bags Limited
for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pax-Bags Limited for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
Venta House
Maes-glas
Newport
NP20 2NS
21 February 2025
Pax-Bags Limited
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
15,745
31,973
Creditors: amounts falling due within one year
(32,284)
(137,208)
Net current assets
2,012
22,051
Total assets less current liabilities
2,012
22,051
Creditors: amounts falling due after more than one year
-
(20,018)
Called up share capital
1
1
Profit and loss account
2,011
2,032
Shareholders' funds
2,012
2,033
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 February 2025 and were signed on its behalf by
Roger Norris
Director
Company Registration No. 10773590
Pax-Bags Limited
Notes to the Accounts
for the year ended 31 December 2024
Pax-Bags Limited is a private company, limited by shares, registered in England and Wales, registration number 10773590. The registered office is Merlin House, No 1 Langstone Business Park, Newport, NP18 2HJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Amounts falling due within one year
Trade debtors
15,686
124,466
Accrued income and prepayments
2,865
2,820
Pax-Bags Limited
Notes to the Accounts
for the year ended 31 December 2024
5
Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,737
107,021
Taxes and social security
4,260
4,421
6
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
-
19,572
Loans from directors
-
446
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).