| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| FOR |
| B. PALETTA LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| FOR |
| B. PALETTA LIMITED |
| B. PALETTA LIMITED (REGISTERED NUMBER: 05464750) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| B. PALETTA LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 25 Grosvenor Road |
| Wrexham |
| LL11 1BT |
| BANKERS: |
| 51-52 Hope Street |
| Wrexham |
| LL11 1BB |
| B. PALETTA LIMITED (REGISTERED NUMBER: 05464750) |
| BALANCE SHEET |
| 31ST MAY 2025 |
| 31.5.25 | 31.5.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
| PROVISIONS FOR LIABILITIES | 13 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 14 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| B. PALETTA LIMITED (REGISTERED NUMBER: 05464750) |
| BALANCE SHEET - continued |
| 31ST MAY 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| B. PALETTA LIMITED (REGISTERED NUMBER: 05464750) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| 1. | STATUTORY INFORMATION |
| B. Paletta Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 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 |
| Short leasehold | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| 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 Statement of Income and Retained Earnings, 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. |
| B. PALETTA LIMITED (REGISTERED NUMBER: 05464750) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st June 2024 |
| and 31st May 2025 |
| AMORTISATION |
| At 1st June 2024 |
| Amortisation for year |
| At 31st May 2025 |
| NET BOOK VALUE |
| At 31st May 2025 |
| At 31st May 2024 |
| B. PALETTA LIMITED (REGISTERED NUMBER: 05464750) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | and | Motor | Computer |
| leasehold | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st June 2024 |
| Additions |
| At 31st May 2025 |
| DEPRECIATION |
| At 1st June 2024 |
| Charge for year |
| At 31st May 2025 |
| NET BOOK VALUE |
| At 31st May 2025 |
| At 31st May 2024 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1st June 2024 |
| Transfer to ownership | (12,995 | ) |
| At 31st May 2025 |
| DEPRECIATION |
| At 1st June 2024 |
| Transfer to ownership | (12,995 | ) |
| At 31st May 2025 |
| NET BOOK VALUE |
| At 31st May 2025 |
| At 31st May 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st June 2024 |
| and 31st May 2025 |
| NET BOOK VALUE |
| At 31st May 2025 |
| At 31st May 2024 |
| B. PALETTA LIMITED (REGISTERED NUMBER: 05464750) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| 7. | STOCKS |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Goods for resale | 56,570 | 54,703 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Other debtors |
| Prepayments |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 11) |
| Trade creditors |
| Tax |
| Pension | - | 696 |
| Social security and other taxes |
| VAT | 14,673 | 15,095 |
| Other creditors |
| Directors' current accounts | 25,242 | 37,983 |
| Accrued expenses |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Hire purchase contracts (see note 11) |
| 11. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| B. PALETTA LIMITED (REGISTERED NUMBER: 05464750) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| 11. | LEASING AGREEMENTS - continued |
| Non-cancellable |
| operating leases |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 12. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Bank overdrafts |
| 13. | PROVISIONS FOR LIABILITIES |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1st June 2024 |
| Movement in year due to:- |
| changes in tax rates | (687 | ) |
| changes in tax allowances |
| Balance at 31st May 2025 |
| 14. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.25 | 31.5.24 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 15. | CAPITAL COMMITMENTS |
| 31.5.25 | 31.5.24 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| 16. | ULTIMATE CONTROLLING PARTY |
| The controlling party is B Paletta. |