Company Registration No. 10622221 (England and Wales)
Pitch@Palace Global Limited
Unaudited accounts
for the year ended 31 March 2022
Pitch@Palace Global Limited
Unaudited accounts
Contents
Pitch@Palace Global Limited
Company Information
for the year ended 31 March 2022
Director
Arthur John Lancaster
Company Number
10622221 (England and Wales)
Registered Office
2nd Floor, National House
60-66 Wardour Street
London
W1F 0TA
United Kingdom
Pitch@Palace Global Limited
Statement of financial position
as at
31 March 2022
Tangible assets
287
2,690
Cash at bank and in hand
504,367
647,850
Creditors: amounts falling due within one year
(11,167)
(58,323)
Net current assets
610,582
723,633
Net assets
610,870
726,324
Called up share capital
1
1
Profit and loss account
610,869
726,323
Shareholders' funds
610,870
726,324
For the year ending 31 March 2022 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 December 2022 and were signed on its behalf by
Arthur John Lancaster
Director
Company Registration No. 10622221
Pitch@Palace Global Limited
Notes to the Accounts
for the year ended 31 March 2022
Pitch@Palace Global Limited is a private company, limited by shares, registered in England and Wales, registration number 10622221. The registered office is 2nd Floor, National House, 60-66 Wardour Street, London, W1F 0TA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2020.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
EXEMPTION FROM PREPARING CONSOLIDATED FINANCIAL STATEMENTS
The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
The accounts are presented in £ sterling.
The global Covid-19 pandemic continued to impose challenges for all businesses, even once most UK restrictions had been lifted.
The strategic direction and purpose of the Company remains under review.
The director has prepared budgets and cash flow forecasts which indicate the Company will have sufficient resources to meets its ongoing liabilities as they fall due. Accordingly the director continues to adopt the going concern basis of accounting in preparing these financial statements.
Pitch@Palace Global Limited
Notes to the Accounts
for the year ended 31 March 2022
Tangible fixed assets and depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Computer equipment - 33%
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
4
Tangible fixed assets
Computer equipment
Cost or valuation
At cost
Charge for the year
2,403
5
Investments
Other investments
Valuation at 1 April 2021
1
Valuation at 31 March 2022
1
Pitch@Palace Global Limited
Notes to the Accounts
for the year ended 31 March 2022
Amounts falling due within one year
Amounts due from group undertakings etc.
12,123
-
Accrued income and prepayments
-
540
Other debtors
94,827
95,307
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
8,946
376
8
Share capital
2022
2021
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Average number of employees
During the year the average number of employees was 1 (2021: 3).