Pilati Ltd 31/03/2023 iXBRL
Pilati Ltd 31/03/2023 iXBRL
Company registration number:
08134053
Contents
Balance sheet
Notes to the financial statements
Balance sheet
31 March 2023
| 2023 | 2022 | ||||||||
| Note | £ | £ | £ | £ | |||||
| Fixed assets | |||||||||
| Tangible assets | 5 |
|
|
||||||
| _______ | _______ | ||||||||
|
|
|
||||||||
| Current assets | |||||||||
| Debtors: | |||||||||
| Amounts falling due within one year | 6 |
|
|
||||||
| Cash at bank and in hand |
|
|
|||||||
| _______ | _______ | ||||||||
|
|
|
||||||||
| Creditors: amounts falling due | |||||||||
| within one year | 7 |
(
|
(
|
||||||
| _______ | _______ | ||||||||
| Net current assets |
|
|
|||||||
| _______ | _______ | ||||||||
| Total assets less current liabilities |
|
|
|||||||
| _______ | _______ | ||||||||
| Net assets |
|
|
|||||||
| _______ | _______ | ||||||||
| Capital and reserves | |||||||||
| Called up share capital | 8 |
|
|
||||||
| Capital redemption reserve |
|
|
|||||||
| Profit and loss account |
|
|
|||||||
| _______ | _______ | ||||||||
| Shareholder funds |
|
|
|||||||
| _______ | _______ | ||||||||
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 January 2024
, and are signed on behalf of the board by:
.......................................................
Director
Company registration number:
08134053
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Clifton House, Four Elms Road, Cardiff, CF24 1LE.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. However, no provision has been carried forward in these financial statements, as, in the director's opinion, the amount involved is immaterial.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Fittings fixtures and equipment | - |
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. All of the financial instruments applying to the company are basic as defined in the Accounting Standard, and as such are initially recognised at the transaction price, unless specifically stated otherwise. Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
1
).
5.
Tangible assets
| Fixtures, fittings and equipment | Total | ||
| £ | £ | ||
| Cost | |||
| At 1 April 2022 and 31 March 2023 |
|
|
|
| _______ | _______ | ||
| Depreciation | |||
| At 1 April 2022 |
|
|
|
| Charge for the year |
|
|
|
| _______ | _______ | ||
| At 31 March 2023 |
|
|
|
| _______ | _______ | ||
| Carrying amount | |||
| At 31 March 2023 |
|
|
|
| _______ | _______ | ||
| At 31 March 2022 |
|
|
|
| _______ | _______ | ||
6.
Debtors
Other debtors
554
554
_______
|
_______
|
_______
|
_______
|
7.
Creditors: amounts falling due within one year
| 2023 | 2022 | |||
| £ | £ | |||
| Accruals and deferred income |
|
|
||
| Social security and other taxes |
|
|
||
| Director loan accounts |
|
|
||
| _______ | _______ | |||
|
|
|
|||
| _______ | _______ | |||
8.
Called up share capital
Issued, called up and fully paid
| 2023 | 2022 | ||||||||
| No | £ | No | £ | ||||||
|
|
33 | 33 | 33 | 33 | |||||
| _______ | _______ | _______ | _______ | ||||||