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REGISTERED NUMBER: SC215123 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

PAL TECHNOLOGIES LIMITED

PAL TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC215123)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAL TECHNOLOGIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Dr M Granat
D Maxwell
N Mourselas





SECRETARY: Dr M Granat





REGISTERED OFFICE: 107 Bell Street
Glasgow
G4 0TQ





REGISTERED NUMBER: SC215123 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

PAL TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC215123)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,698 4,301
Tangible assets 5 60,789 74,442
62,487 78,743

CURRENT ASSETS
Stocks 109,640 103,075
Debtors 6 140,342 131,060
Cash at bank 2,644 65,787
252,626 299,922
CREDITORS
Amounts falling due within one year 7 181,527 192,878
NET CURRENT ASSETS 71,099 107,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,586

185,787

CREDITORS
Amounts falling due after more than one
year

8

32,581

49,812
NET ASSETS 101,005 135,975

CAPITAL AND RESERVES
Called up share capital 110 110
Share premium 66,871 66,871
Retained earnings 34,024 68,994
SHAREHOLDERS' FUNDS 101,005 135,975

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PAL TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC215123)

BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





D Maxwell - Director


PAL TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC215123)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

PAL Technologies Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on despatch of goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Intangible fixed assets

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on a straight line basis, 25% on a reducing balance basis and 20% on a reducing balance basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PAL TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC215123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 110,334
AMORTISATION
At 1 July 2023 106,033
Charge for year 2,603
At 30 June 2024 108,636
NET BOOK VALUE
At 30 June 2024 1,698
At 30 June 2023 4,301

PAL TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC215123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 205,498
Additions 9,668
At 30 June 2024 215,166
DEPRECIATION
At 1 July 2023 131,056
Charge for year 23,321
At 30 June 2024 154,377
NET BOOK VALUE
At 30 June 2024 60,789
At 30 June 2023 74,442

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 52,118 45,128
Other debtors 88,224 85,932
140,342 131,060

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 7,230 7,230
Trade creditors 6,083 4,069
Taxation and social security 4,328 52,723
Other creditors 153,886 118,856
181,527 192,878

PAL TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC215123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 9,167 19,167
Hire purchase contracts 23,414 30,645
32,581 49,812