PATC'S Ltd iXBRL

Company Registration Number: NI641635

PATC'S Ltd

Unaudited Financial Statements

for the financial year ended 30 November 2024

PATC'S Ltd

Company Registration Number: NI641635

BALANCE SHEET

as at 30 November 2024

		2024	2023
	Notes	£	£

Fixed Assets

Tangible assets

30,197

37,721

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Current Assets

Stocks

10,000

10,000

Debtors

7,168

24,008

Cash and cash equivalents

4,000

─────────

21,168

34,008

─────────

Creditors: amounts falling due within one year

(100,421)

(122,871)

─────────

Net Current Liabilities

(79,253)

(88,863)

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Total Assets less Current Liabilities

(49,056)

(51,142)

Creditors:

amounts falling due after more than one year

(4,784)

(14,972)

─────────

Net Liabilities

(53,840)

(66,114)

═════════

Capital and Reserves

Called up share capital

100

100

Retained earnings

(53,940)

(66,214)

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Equity attributable to owners of the company

(53,840)

(66,114)

═════════

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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 11 September 2025 and signed on its behalf by



________________________________
Charlie McKeever
Director

PATC'S Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 30 November 2024

General Information

PATC'S Ltd is a company limited by shares incorporated in Northern Ireland. 28/29 Woodhouse Street, Portadown, Co. Armagh, BT62 1JG, Northern Ireland is the registered office,which is also the principal place of business of the company. The principal activity of the company is in the provision of food and drink The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 30 November 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Fixtures, fittings and equipment

10% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company contributes to a staff pension scheme under auto enrolment. The assets of the scheme are held separately from those of the company in an independently administered fund.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Ordinary share capital

The ordinary share capital of the company is presented as equity.


3.	Employees

	The average monthly number of employees, including directors, during the financial year was 11, (2023 - 11).

		2024	2023
		Number	Number

	Directors	2	2
	Employees	9	9
		─────────	─────────
		11	11
		═════════	═════════


4.	Tangible assets
		Fixtures,	Total
		fittings and
		equipment
		£	£
	Cost
	At 1 December 2023	113,895	113,895
	Additions	4,295	4,295
		─────────	─────────
	At 30 November 2024	118,190	118,190
		─────────	─────────
	Depreciation
	At 1 December 2023	76,174	76,174
	Charge for the financial year	11,819	11,819
		─────────	─────────
	At 30 November 2024	87,993	87,993
		─────────	─────────
	Net book value
	At 30 November 2024	30,197	30,197
		═════════	═════════
	At 30 November 2023	37,721	37,721
		═════════	═════════


5.	Stocks	2024	2023
		£	£

	Finished goods and goods for resale	10,000	10,000
		═════════	═════════

	The replacement cost of stock did not differ significantly from the figures shown.


6.	Debtors	2024	2023
		£	£

	Directors' current accounts (Note 11)	5,304	24,008
	Taxation (Note 9)	1,864	-
		─────────	─────────
		7,168	24,008
		═════════	═════════


7.	Creditors	2024	2023
	Amounts falling due within one year	£	£

	Bank overdrafts	17,793	17,555
	Bank loan	10,648	10,648
	Trade creditors	40,600	33,323
	Taxation (Note 9)	26,180	56,145
	Accruals	5,200	5,200
		─────────	─────────
		100,421	122,871
		═════════	═════════


8.	Creditors	2024	2023
	Amounts falling due after more than one year	£	£

	Bank loan	4,784	14,972
		═════════	═════════

	Loans
	Repayable in one year or less, or on demand (Note 7)	28,441	28,203
	Repayable between one and two years	4,784	10,648
	Repayable between two and five years	-	4,324
		─────────	─────────
		33,225	43,175
		═════════	═════════


9.	Taxation	2024	2023
		£	£

	Debtors:
	PAYE / NI	1,864	-
		═════════	═════════
	Creditors:
	VAT	20,784	18,784
	Corporation tax	5,396	1,196
	PAYE / NI	-	36,165
		─────────	─────────
		26,180	56,145
		═════════	═════════

10.

Capital commitments

The company had no material capital commitments at the financial year-ended 30 November 2024.

11.

Directors' advances, credits and guarantees

The directors' were advanced a loan during the year which was settled after the year end.

12.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.