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Company Registration No. 06395851 (England and Wales)
PATELS MANAGEMENT SOLUTIONS LTD Unaudited accounts for the year ended 31 October 2024
PATELS MANAGEMENT SOLUTIONS LTD Unaudited accounts Contents
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PATELS MANAGEMENT SOLUTIONS LTD Company Information for the year ended 31 October 2024
Directors
Vineshkumar Patel Jayesh Patel
Company Number
06395851 (England and Wales)
Registered Office
66 FRENCHWOOD STREET PRESTON LANCASHIRE PR1 3SU
Accountants
IAS Associates Ltd 8 Cunningham Court Lions Drive Blackburn Lancashire BB1 2QX
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PATELS MANAGEMENT SOLUTIONS LTD Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
23,510 
19,588 
Current assets
Inventories
49,443 
36,113 
Debtors
19,119 
- 
Cash at bank and in hand
2,848 
17,112 
71,410 
53,225 
Creditors: amounts falling due within one year
(36,638)
(18,180)
Net current assets
34,772 
35,045 
Net assets
58,282 
54,633 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
58,280 
54,631 
Shareholders' funds
58,282 
54,633 
For the year ending 31 October 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 directors acknowledge their 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 of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by
Vineshkumar Patel Director Company Registration No. 06395851
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PATELS MANAGEMENT SOLUTIONS LTD Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
PATELS MANAGEMENT SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 06395851. The registered office is 66 FRENCHWOOD STREET, PRESTON, LANCASHIRE, PR1 3SU.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 November 2023
91,968 
Additions
9,800 
At 31 October 2024
101,768 
Depreciation
At 1 November 2023
72,380 
Charge for the year
5,878 
At 31 October 2024
78,258 
Net book value
At 31 October 2024
23,510 
At 31 October 2023
19,588 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
19,119 
- 
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PATELS MANAGEMENT SOLUTIONS LTD Notes to the Accounts for the year ended 31 October 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
449 
471 
Trade creditors
14,133 
3,110 
Taxes and social security
6,016 
1,206 
Other creditors
720 
- 
Loans from directors
14,795 
12,868 
Accruals
525 
525 
36,638 
18,180 
7
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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