REGISTERED NUMBER: 07869890 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Pace Accountants Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P J Allen

REGISTERED OFFICE:

Noble House

Eaton Road

Hemel Hempstead

Hertfordshire

HP2 7UB

REGISTERED NUMBER:

07869890 (England and Wales)

ACCOUNTANTS:

Pace Accountants

Noble House

Eaton Road

Hemel Hempstead

Hertfordshire

HP2 7UB

FIXED ASSETS

Intangible assets

4

50,283

68,443

Tangible assets

5

-

-

50,283

68,443

CURRENT ASSETS

Stocks

28,875

34,096

Debtors

6

69,220

87,876

Cash at bank

2,318

7,333

100,413

129,305

CREDITORS

Amounts falling due within one year

7

151,910

129,287

NET CURRENT (LIABILITIES)/ASSETS

(51,497

)

18

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,214

)

68,461

CREDITORS

Amounts falling due after more than one year

8

35,990

63,603

NET (LIABILITIES)/ASSETS

(37,204

)

4,858

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(37,304

)

4,758

SHAREHOLDERS' FUNDS

(37,204

)

4,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31 December 2025 and were signed by:

P J Allen - Director

1.	STATUTORY INFORMATION

Pace Accountants Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

33% on cost and 25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

118,604

Reclassification/transfer

(12,680

)

At 31 December 2024

105,924

AMORTISATION

At 1 January 2024

50,161

Charge for year

5,480

At 31 December 2024

55,641

NET BOOK VALUE

At 31 December 2024

50,283

At 31 December 2023

68,443

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

3,997

15,620

25,792

45,409

DEPRECIATION

At 1 January 2024

and 31 December 2024

3,997

15,620

25,792

45,409

NET BOOK VALUE

At 31 December 2024

-

-

-

-

At 31 December 2023

-

-

-

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

50,926

60,093

Other debtors

18,294

27,783

69,220

87,876

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

16,936

16,375

Trade creditors

12,488

14,635

Taxation and social security

47,619

43,643

Other creditors

74,867

54,634

151,910

129,287

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,995

18,141

Other creditors

30,995

45,462

35,990

63,603