Registered number
04997967
PALICOMP LIMITED
Filleted Accounts
31 January 2025
PALICOMP LIMITED
Registered number: 04997967
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 16,797 20,096
Current assets
Stocks 339,873 519,772
Debtors 4 49,673 68,683
Cash at bank 652,404 518,334
1,041,950 1,106,789
Creditors: amounts falling due within one year 5 (96,240) (110,956)
Net current assets 945,710 995,833
Total assets less current liabilities 962,507 1,015,929
Provisions for liabilities (4,199) (3,818)
Net assets 958,308 1,012,111
Capital and reserves
Called up share capital 2 2
Profit and loss account 958,306 1,012,109
Shareholders' funds 958,308 1,012,111
The director is 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 director acknowledges his 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.
N S Paliwoda
Director
Approved by the board on 11 June 2025
PALICOMP LIMITED
Notes to the Accounts
for the year ended 31 January 2025
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Equipment 20% per annum of net book value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Equipment & fixtures
£
Cost
At 1 February 2024 59,048
Additions 900
At 31 January 2025 59,948
Depreciation
At 1 February 2024 38,952
Charge for the year 4,199
At 31 January 2025 43,151
Net book value
At 31 January 2025 16,797
At 31 January 2024 20,096
4 Debtors 2025 2024
£ £
Trade debtors 44,035 60,556
Other debtors and prepayments 5,638 8,127
49,673 68,683
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 13,625 45,607
Accruals 26,485 23,234
Taxation and social security costs 56,130 42,115
96,240 110,956
6 Other information
PALICOMP LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
The Weston Centre
Weston Road
Crewe
Cheshire
CW1 6FL
PALICOMP LIMITED 04997967 false 2024-02-01 2025-01-31 2025-01-31 VT Final Accounts July 2024 N S Paliwoda No description of principal activity 04997967 2023-02-01 2024-01-31 04997967 core:WithinOneYear 2024-01-31 04997967 core:ShareCapital 2024-01-31 04997967 core:RetainedEarningsAccumulatedLosses 2024-01-31 04997967 2024-02-01 2025-01-31 04997967 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 04997967 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 04997967 bus:Director40 2024-02-01 2025-01-31 04997967 1 2024-02-01 2025-01-31 04997967 2 2024-02-01 2025-01-31 04997967 core:PlantMachinery 2024-02-01 2025-01-31 04997967 countries:England 2024-02-01 2025-01-31 04997967 bus:FRS102 2024-02-01 2025-01-31 04997967 bus:FilletedAccounts 2024-02-01 2025-01-31 04997967 2025-01-31 04997967 core:WithinOneYear 2025-01-31 04997967 core:ShareCapital 2025-01-31 04997967 core:RetainedEarningsAccumulatedLosses 2025-01-31 04997967 core:PlantMachinery 2025-01-31 04997967 2024-01-31 04997967 core:PlantMachinery 2024-01-31 iso4217:GBP xbrli:pure