Pace Consult Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05733634 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

PACE CONSULT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Jones

REGISTERED OFFICE:

652 The Crescent

Colchester Business Park

Colchester

Essex

CO4 9YQ

REGISTERED NUMBER:

05733634 (England and Wales)

ACCOUNTANTS:

RE Group Accountants Limited

Chartered Certified Accountants

The Maltings

Rosemary Lane

Halstead

Essex

CO9 1HZ

FIXED ASSETS

Tangible assets

4

35,551

32,534

CURRENT ASSETS

Debtors

5

176,512

186,732

Cash at bank and in hand

124,129

66,194

300,641

252,926

CREDITORS

Amounts falling due within one year

6

131,853

110,763

NET CURRENT ASSETS

168,788

142,163

TOTAL ASSETS LESS CURRENT LIABILITIES

204,339

174,697

CREDITORS

Amounts falling due after more than one year

7

(66,000

)

(82,500

)

PROVISIONS FOR LIABILITIES

(6,564

)

(5,802

)

NET ASSETS

131,775

86,395

CAPITAL AND RESERVES

Called up share capital

10

37

37

Capital redemption reserve

66

66

Retained earnings

131,672

86,292

SHAREHOLDERS' FUNDS

131,775

86,395

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 25 November 2021 and were signed by:

M Jones - Director

1.	STATUTORY INFORMATION

Pace Consult 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 etc

-

25% on reducing balance

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 6 (2020 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2020

123,253

Additions

17,570

Disposals

(6,407

)

At 30 September 2021

134,416

DEPRECIATION

At 1 October 2020

90,719

Charge for year

11,850

Eliminated on disposal

(3,704

)

At 30 September 2021

98,865

NET BOOK VALUE

At 30 September 2021

35,551

At 30 September 2020

32,534

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

142,870

76,730

Other debtors

33,642

110,002

176,512

186,732

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

18,000

7,500

Trade creditors

47,532

47,166

Taxation and social security

59,233

31,313

Other creditors

7,088

24,784

131,853

110,763

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

66,000

82,500

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

10,500

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

2,637

-

Between one and five years

5,713

-

8,350

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

84,000

90,000

This bank loan is secured with a fixed and floating charge over all assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

37

Ordinary

1

37

37

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company was owed £1,990 (2020: £1,400) by the director, M Jones. This amount is interest free and repayable on demand.