Pace Projects & Developments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 13199186 (England and Wales)

Financial Statements

for the Year Ended 28th February 2025

for

PACE PROJECTS & DEVELOPMENTS LIMITED

Attenboroughs (Accountants) Limited

Chartered Certified Accountants

1 Tower House

Tower Centre

Hoddesdon

Hertfordshire

EN11 8UR

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Mccarthy

M I Pasenciuc

V Pasenciuc

REGISTERED OFFICE:

1 Tower House

Tower Centre

Hoddesdon

Hertfordshire

EN11 8UR

REGISTERED NUMBER:

13199186 (England and Wales)

ACCOUNTANTS:

Attenboroughs (Accountants) Limited

Chartered Certified Accountants

1 Tower House

Tower Centre

Hoddesdon

Hertfordshire

EN11 8UR

FIXED ASSETS

Tangible assets

4

135,611

159,168

CURRENT ASSETS

Stocks

250

Debtors

5

403,377

432,081

Cash at bank

1,661,179

1,136,024

2,064,806

1,568,355

CREDITORS

Amounts falling due within one year

6

421,948

351,469

NET CURRENT ASSETS

1,642,858

1,216,886

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,778,469

1,376,054

PROVISIONS FOR LIABILITIES

33,903

39,792

NET ASSETS

1,744,566

1,336,262

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

1,744,466

1,336,162

SHAREHOLDERS' FUNDS

1,744,566

1,336,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th October 2025 and were signed on its behalf by:

A Mccarthy - Director

1.	STATUTORY INFORMATION

Pace Projects & Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1st March 2024

6,237

-

215,342

6,482

228,061

Additions

2,502

5,750

7,009

6,386

21,647

At 28th February 2025

8,739

5,750

222,351

12,868

249,708

DEPRECIATION

At 1st March 2024

2,433

-

63,978

2,482

68,893

Charge for year

1,577

1,438

39,593

2,596

45,204

At 28th February 2025

4,010

1,438

103,571

5,078

114,097

NET BOOK VALUE

At 28th February 2025

4,729

4,312

118,780

7,790

135,611

At 29th February 2024

3,804

-

151,364

4,000

159,168

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/25

29/2/24

£

Trade debtors

171,633

109,941

Amounts recoverable on contract

193,436

284,508

Related company - Pace Eco

30,000

Prepayments

8,308

7,632

403,377

432,081

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/25

29/2/24

£

Trade creditors

25,507

Tax

181,279

192,164

Social security and other taxes

28,074

17,065

VAT

124,325

86,487

Other creditors

16,270

6,898

Directors' current accounts

10,049

8,488

Accrued expenses

36,444

14,860

421,948

351,469

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28/2/25

29/2/24

value:

£

NIL

Ordinary

£1.00

-

100

(29/2/24 - 100 )

50

A Ordinary

£1

50

-

50

B Ordinary

£1

50

-

100

8.	ULTIMATE CONTROLLING PARTY

The company is within the control of its directors.