Accounts filed on 31-05-2021

Accounts filed on 31-05-2021

PASQUALE LIMITED - Company Information

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SC147563falsethat of an investment property business2020-06-012021-05-31http://www.companieshouse.gov.uk/2020-05-31http://www.companieshouse.gov.uk/pt:ShareCapital2020-05-31http://www.companieshouse.gov.uk/cd:Director12020-06-012021-05-31http://www.companieshouse.gov.uk/pt:ShareCapital2021-05-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2020-05-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12020-06-012021-05-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2021-05-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2020-06-012021-05-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2020-06-012021-05-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2021-05-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2020-05-31http://www.companieshouse.gov.uk/2020-06-012021-05-31http://www.companieshouse.gov.uk/2020-05-31http://www.companieshouse.gov.uk/cd:FRS1022020-06-012021-05-31http://www.companieshouse.gov.uk/2021-05-31http://www.companieshouse.gov.uk/cd:FullAccounts2020-06-012021-05-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2020-06-012021-05-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: SC147563
Pasquale Limited
ACCOUNTS
FOR THE YEAR ENDED 31/05/2021
Prepared By:
Accountancy Assured Limited
Chartered Certified Accountants & Chartered Tax Advisers
Suite 1 Beaverhall House
27 Beaverhall Road
Edinburgh
EH7 4JE
Pasquale Limited
ACCOUNTS
FOR THE YEAR ENDED 31/05/2021
DIRECTORS
Pasquale Chierchia
SECRETARY
Lorraine Chierchia
REGISTERED OFFICE
Suite 1; Beaverhall House
27 Beaverhall Road
Edinburgh
EH7 4JE
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC147563
ACCOUNTANTS
Accountancy Assured Limited
Chartered Certified Accountants & Chartered Tax Advisers
Suite 1 Beaverhall House
27 Beaverhall Road
Edinburgh
EH7 4JE
Pasquale Limited
ACCOUNTS
FOR THEYEARENDED31/05/2021
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Pasquale Limited
BALANCE SHEET AT 31/05/2021
20212020
Notes££
FIXED ASSETS
Tangible assets3760,874761,165
CURRENT ASSETS
Debtors5437590
Cash at bank and in hand50,69038,213
51,12738,803
CREDITORS: Amounts falling due within one year619,32218,569
NET CURRENT ASSETS31,80520,234
TOTAL ASSETS LESS CURRENT LIABILITIES792,679781,399
CAPITAL AND RESERVES
Called up share capital71,0001,000
Revaluation reserve1d,8409,142409,142
Profit and loss account382,537371,257
SHAREHOLDERS' FUNDS792,679781,399
For the year ending 31/05/2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 15/02/2022 and signed on their behalf by
.............................
Pasquale Chierchia
Director
Pasquale Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/05/2021
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 25%
1c. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1d. Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 8).
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.
2. EMPLOYEES
20212020
No.No.
Average number of employees11
Pasquale Limited
3. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 01/06/20203,2413,241
At 31/05/20213,2413,241
Depreciation
At 01/06/20202,0762,076
For the year291291
At 31/05/20212,3672,367
Net Book Amounts
At 31/05/2021874874
At 31/05/20201,1651,165
4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 01/06/2020760,000760,000
At 31/05/2021760,000760,000
5. DEBTORS 20212020
££
Amounts falling due within one year
Trade debtors-253
Prepayments437337
437590
Pasquale Limited
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20212020
££
UK corporation tax9,2829,382
Directors current account1,21525
Other creditors6,6346,634
Accruals9601,080
Deferred income1,2311,448
19,32218,569
7. SHARE CAPITAL 20212020
££
Allotted, issued and fully paid:
1000 Ordinary shares of £1 each10001000
1,0001,000
8. REVALUATION RESERVE 20212020
££
Revaluation reserve409,142409,142
409,142409,142