Registered number
NI012456
Pacemaker Press International Limited
Unaudited Filleted Accounts
for the year ended
30 September 2024
Pacemaker Press International Limited
Registered number: NI012456
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,943 14,371
Current assets
Debtors 4 362,062 368,023
Cash at bank and in hand 20,368 20,199
382,430 388,222
Creditors: amounts falling due within one year 5 (137,552) (132,490)
Net current assets 244,878 255,732
Total assets less current liabilities 253,821 270,103
Creditors: amounts falling due after more than one year 6 (3,813) (9,300)
Provisions for liabilities (1,699) (2,400)
Net assets 248,309 258,403
Capital and reserves
Called up share capital 6,000 6,000
Profit and loss account 242,309 252,403
Shareholders' funds 248,309 258,403
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David McCormick
Director
Approved by the board on 26 June 2025
Pacemaker Press International Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 20% - 25% straight line
Office equipment 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and equipment Office equipment Total
£ £ £
Cost
At 1 October 2023 297,327 72,269 369,596
Additions 530 - 530
At 30 September 2024 297,857 72,269 370,126
Depreciation
At 1 October 2023 283,183 72,042 355,225
Charge for the year 5,888 70 5,958
At 30 September 2024 289,071 72,112 361,183
Net book value
At 30 September 2024 8,786 157 8,943
At 30 September 2023 14,144 227 14,371
4 Debtors 2024 2023
£ £
Trade debtors 3,719 9,757
Amounts owed by group undertakings and undertakings in which the company has a participating interest 356,029 356,029
Other debtors 2,314 2,237
362,062 368,023
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,521 10,896
Trade creditors 18,818 14,771
Taxation and social security costs 48,106 40,390
Other creditors 63,107 66,433
137,552 132,490
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,813 9,300
7 Related party transactions
Loans outstanding from EASL Limited at 30 September 2024 amounted to £356,029 (2023: £356,029).
8 Controlling party
The directors are controlling parties by virtue of their interest in the equity of the holding company EASL Limited. EASL Limited is a company incorporated in Northern Ireland.
9 Other information
Pacemaker Press International Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
42 Blenheim Drive
Belfast
Northern Ireland
BT6 9GD
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