ACCOUNTS - Final Accounts

Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

Registered number: 08768278

PITULIA & CO LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024


PITULIA & CO LTD

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 6


PITULIA & CO LTD REGISTERED NUMBER:08768278

STATEMENT OF FINANCIAL POSITION

AS AT 30 NOVEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		4,193		84,606
Current assets
Debtors: amounts falling due within one year	5	70,018		42,128
Bank and cash balances		83,687		121,555
		153,705		163,683
Current liabilities
Creditors: amounts falling due within one year	6	(102,123)		(158,938)
Net current assets			51,582		4,745

Net assets			55,775		89,351

Capital and reserves
Called up share capital	8	99	99
Profit and loss account		55,676	89,252
		55,775	89,351

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 September 2025.

D C Pitulia

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1


PITULIA & CO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

1.	General information

Pitulia & Co Limited is a limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD.
The principal activity of the Company during the year was that of medical consultancy services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the
translation at period-end exchange rates of monetary assets and liabilities denominated in foreign
currencies are recognised in the profit and loss account.

2.3

Turnover

Turnover is measured at the fair value of amounts receivable in respect of services provided in the year, net of trade discounts. Turnover comprises of medical services, board fees and recharged travel expenses incurred.
Turnover is recognised in the period in which the service is provided.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2


PITULIA & CO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Motor vehicles	-	25%
				Office equipment	-	25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3


PITULIA & CO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

2.9

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4


PITULIA & CO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

4.	Tangible fixed assets

	Motor vehicles	Office equipment	Total
	£	£	£
Cost or valuation
At 1 December 2023	159,950	8,791	168,741
Additions	-	4,326	4,326
Disposals	(159,950)	-	(159,950)
At 30 November 2024	-	13,117	13,117
Depreciation
At 1 December 2023	76,643	7,493	84,136
Charge for the year on owned assets	6,665	1,431	8,096
Disposals	(83,308)	-	(83,308)
At 30 November 2024	-	8,924	8,924
Net book value
At 30 November 2024	-	4,193	4,193
At 30 November 2023	83,307	1,298	84,605

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2024	2023
	£	£


	Motor vehicles	-	83,308

Page 5


PITULIA & CO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	64,507	35,400
Other debtors	705	6,075
Prepayments and accrued income	4,806	653
	70,018	42,128

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	395	-
Other taxation and social security	43,466	224
Obligations under finance lease and hire purchase contracts	-	92,239
Other creditors	55,177	62,851
Accruals and deferred income	3,085	3,624
	102,123	158,938

Within one year

92,239

8.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

99 (2023 - 99) Ordinary shares of £1 each	99	99

Page 6