Pungo Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 11914576

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		6,367		7,921

			6,367		7,921
CURRENT ASSETS
Debtors	5	485,434		354,671
Cash at bank and in hand		1,039,994		468,672

		1,525,428		823,343
Creditors: Amounts Falling Due Within One Year	6	(1,322,236 )		(926,826 )

NET CURRENT ASSETS (LIABILITIES)			203,192		(103,483 )

TOTAL ASSETS LESS CURRENT LIABILITIES			209,559		(95,562 )

NET ASSETS/(LIABILITIES)			209,559		(95,562 )

CAPITAL AND RESERVES
Called up share capital	7		1,296		1,252
Share premium account			903,010		588,023
Profit and Loss Account			(694,747 )		(684,837 )

SHAREHOLDERS' FUNDS			209,559		(95,562)

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Pungo Ltd

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

P Harding

Director

12/09/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Pungo Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11914576 . The registered office is Joy - Uncommon, 25 Horsell Road, London, N5 1XL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Revenue recognition and deferred income

Where invoices are raised in advance of the performance obligations being satisfied, these are recorded on the balance sheet as deferred income. This deferred income relates predominantly to services which are recognised on a straight-line basis over the period of supply. These services are typically invoiced at the beginning of the provision of service and the associated revenue is recognised over this period. These are captured within current liabilities on the basis that they are expected to be recognised in revenue over the next twelve months.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

3 Year Straight Line

2.4. Foreign Currencies

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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2024: 12)

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Pungo Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 April 2024	11,534
Additions	2,702
Disposals	(521 )

As at 31 March 2025	13,715

Depreciation
As at 1 April 2024	3,613
Provided during the period	3,735

As at 31 March 2025	7,348

Net Book Value
As at 31 March 2025	6,367

As at 1 April 2024	7,921

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	474,238	344,003
Prepayments and accrued income	11,196	10,668

	485,434	354,671

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	19,620	56,814
Other taxes and social security	55,075	31,341
VAT	154,103	77,631
Pension Payable	2,799	2,900
Accruals and deferred income	1,090,639	758,140

	1,322,236	926,826

Accruals and deferred income include deferred income of £996,223 which relates to services which are recognised on a straight-line basis over the period of supply.

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,296	1,252

During the year under review 44,480 new shares were issued raising £315,031 net of expenses

8. Transition to FRS 102

The financial statements for the year ended 31st March 2025 have been prepared under FRS 102 because Pungo Ltd no longer complies with the requirements of FRS105 as it did in prior years.

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