Palina Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09941668

PALINA LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31 March 2025

PALINA LTD

BALANCE SHEET

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Intangible assets	5	13,316	13,316
Tangible assets	6	64,939	86,255
Investments	7	10,000	–
		-------	-------
		88,255	99,571

Current assets

Debtors	8	342,643	249,667
Cash at bank and in hand		469,441	395,531
		--------	--------
		812,084	645,198

Creditors: amounts falling due within one year	9	( 576,431)		( 428,313)
		--------		--------
Net current assets			235,653		216,885
			--------		--------
Total assets less current liabilities			323,908		316,456
			--------		--------
Net assets			323,908		316,456
			--------		--------

Capital and reserves

Called up share capital	10	1	1
Profit and loss account		323,907	316,455
		--------	--------
Shareholders funds		323,908	316,456
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 17 October 2025 , and are signed on behalf of the board by:

D C Cummings	M S Sprintall
Director	Director

Company registration number: 09941668

PALINA LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 20, Apollo Office Court, Radclive Road, Gawcott, Buckinghamshire, MK18 4DF, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% straight line
Motor vehicles	-	25% reducing balance
Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 6 ).

5. Intangible assets

	Intangible Investments
	£
Cost
At 1 April 2024 and 31 March 2025	13,316
	-------
Amortisation
At 1 April 2024 and 31 March 2025	–
	-------
Carrying amount
At 31 March 2025	13,316
	-------
At 31 March 2024	13,316
	-------

6. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	17,529	131,765	10,130	159,424
Additions	316	–	630	946
	-------	--------	-------	--------
At 31 March 2025	17,845	131,765	10,760	160,370
	-------	--------	-------	--------
Depreciation
At 1 April 2024	17,513	48,376	7,280	73,169
Charge for the year	21	20,848	1,393	22,262
	-------	--------	-------	--------
At 31 March 2025	17,534	69,224	8,673	95,431
	-------	--------	-------	--------
Carrying amount
At 31 March 2025	311	62,541	2,087	64,939
	-------	--------	-------	--------
At 31 March 2024	16	83,389	2,850	86,255
	-------	--------	-------	--------

7. Investments

	Shares in group undertakings and participating interests
	£
Cost
At 1 April 2024	–
Additions	10,000
	-------
At 31 March 2025	10,000
	-------
Impairment
At 1 April 2024 and 31 March 2025	–
	-------

Carrying amount
At 31 March 2025	10,000
	-------
At 31 March 2024	–
	-------

8. Debtors

	2025	2024
	£	£
Trade debtors	341,132	241,682
Other debtors	1,511	7,985
	--------	--------
	342,643	249,667
	--------	--------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	319,501	322,736
Corporation tax	58,621	23,979
Social security and other taxes	7,251	4,069
Other creditors	191,058	77,529
	--------	--------
	576,431	428,313
	--------	--------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 0.01 each	32	0.32	32	0.32
Ordinary B shares of £ 0.01 each	32	0.32	32	0.32
Ordinary C shares of £ 0.01 each	18	0.18	18	0.18
Ordinary D shares of £ 0.01 each	18	0.18	18	0.18
	----	-----	----	-----
	100	1.00	100	1.00
	----	-----	----	-----