Company registration number 08601915 (England and Wales)
PDH INVESTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
PDH INVESTING LIMITED
COMPANY INFORMATION
Directors
Mr P D C Hughes
Mrs C E Hughes
Company number
08601915
Registered office
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
United Kingdom
NE2 1TJ
Accountants
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
Tyne and Wear
England
NE2 1TJ
Business address
1 Patrick Road
West Bridgford
Nottingham
NG2 7JY
PDH INVESTING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
PDH INVESTING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
71
667
Current assets
Debtors
4
3,257
9,269
Investments
5
385,148
Cash at bank and in hand
33,936
478,607
422,341
487,876
Creditors: amounts falling due within one year
6
(1,207)
(52,246)
Net current assets
421,134
435,630
Total assets less current liabilities
421,205
436,297
Provisions for liabilities
7
(127)
Net assets
421,205
436,170
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
421,203
436,168
Total equity
421,205
436,170
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 September 2023 and are signed on its behalf by:
Mr P D C Hughes
Director
Company registration number 08601915 (England and Wales)
PDH INVESTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information
PDH Investing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fernwood House, Fernwood Road, Jesmond, Newcastle upon Tyne, United Kingdom, NE2 1TJ. The principal place of business is 1 Patrick Road, West Bridgford, Nottingham, NG2 7JY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in UK sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Reporting period
The company has ceased its current trading operations on 31 December 2021. The financial statements have been prepared for the 9 months to 31 December 2021 and therefore the comparative amounts are not entirely comparable.
1.3
Turnover
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
PDH INVESTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments
Current asset investments in equities are shown at fair (market) value.
The investments are valued by an investment manager, having due regard to latest dealings, professional valuation, asset values and other appropriate financial information.
The fair value movement credited/(debited) to the profit and loss for the year is £(11,307) (2021 £Nil)
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the statement of retained earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current and deferred taxation assets and liabilities are not discounted.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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 period 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.
1.10
Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
PDH INVESTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.13
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
1.14
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 January 2022 and 31 December 2022
3,492
Depreciation and impairment
At 1 January 2022
2,825
Depreciation charged in the year
596
At 31 December 2022
3,421
Carrying amount
At 31 December 2022
71
At 31 December 2021
667
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
9,269
Other debtors
3,257
3,257
9,269
PDH INVESTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
5
Current asset investments
2022
2021
£
£
Other investments
385,148
6
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
33,828
Other taxation and social security
168
Other creditors
14,100
Accruals and deferred income
1,207
4,150
1,207
52,246
7
Provisions for liabilities
2022
2021
£
£
Deferred tax liabilities
8
127
8
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2022
2021
Balances:
£
£
Accelerated capital allowances
-
127
2022
Movements in the year:
£
Liability at 1 January 2022
127
Credit to profit or loss
(127)
Liability at 31 December 2022
-
PDH INVESTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
9
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A ordinary of £1 each
1
1
1
1
B ordinary of £1 each
1
1
1
1
2
2
2
2
10
Related party transactions
Transactions with related parties
The following amounts were outstanding at the reporting end date:
2022
2021
Amounts due to related parties
£
£
Key management personnel
-
14,100
11
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Mr P D C Hughes -
-
-
3,257
3,257
-
3,257
3,257
No interest is charged on the above loan.