COMPANY REGISTRATION NUMBER:
02254974
Filleted Financial Statements |
|
Directors' Responsibilities Statement |
|
Year ended 30 June 2023
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of Financial Position |
|
30 June 2023
Current assets
Debtors |
4 |
42,665 |
|
35,212 |
Cash at bank and in hand |
3,022 |
|
9,951 |
|
-------- |
|
-------- |
|
45,687 |
|
45,163 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
26,727 |
|
19,833 |
|
-------- |
|
-------- |
Net current assets |
|
18,960 |
25,330 |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
18,960 |
25,330 |
|
|
-------- |
-------- |
Net assets |
|
18,960 |
25,330 |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
393,852 |
393,852 |
Profit and loss account |
|
(
374,892) |
(
368,522) |
|
|
--------- |
--------- |
Shareholders funds |
|
18,960 |
25,330 |
|
|
--------- |
--------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
20 October 2023
, and are signed on behalf of the board by:
Company registration number:
02254974
Notes to the Financial Statements |
|
Year ended 30 June 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Hanover Square, London, W1S 1BN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Subsequent to the year end, the ultimate beneficiary of the parent company, Mr PR Hofer, has issued a letter of support that he will continue to support the company for a period of at least 12 months from the date that the accounts were approved by providing financing and capital as required so that the company can continue to settle its liabilities as they fall due and meet regulatory capital requirements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
Deferred tax is provided where material in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
4.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
34,739 |
34,739 |
Other debtors |
7,926 |
473 |
|
-------- |
-------- |
|
42,665 |
35,212 |
|
-------- |
-------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Corporation tax |
124 |
126 |
Other creditors |
26,603 |
19,707 |
|
-------- |
-------- |
|
26,727 |
19,833 |
|
-------- |
-------- |
|
|
|
6.
Summary audit opinion
The auditor's report dated
20 October 2023
was
unqualified
.
The senior statutory auditor was
P Mattei
, for and on behalf of
Leaman Mattei
.
7.
Related party transactions
At the balance sheet date, the company owed Mr B Jahanshahi £24,753 (2022: £16,782). At the balance sheet date PRH Group Suisse S.A owed the company £34,739 (2022: £34,739).
8.
Controlling party
The company is a subsidiary of PRH Group Suisse S.A., a company registered in Switzerland. The ultimate controlling party is Mr P Hofer.