ACCOUNTS - Final Accounts preparation

CREDITORS: Amounts falling due within one year

Registered number: 09585283

PVG HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 29 DECEMBER 2022

PVG HOLDINGS LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE PERIOD ENDED 29 DECEMBER 2022

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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 of the profit or loss of the Company for that period.

In preparing these financial statements, the Directors are required to:

∙select suitable accounting policies for the Company's financial statements 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 to 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.

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PVG HOLDINGS LIMITED

REGISTERED NUMBER: 09585283

BALANCE SHEET

AS AT 29 DECEMBER 2022

	29 December	31 December
	2022	2021
Note	£	£

Fixed assets
Investments	4		204		204
			204		204
Current assets
Debtors: amounts falling due within one year	5	204		204
		204		204
Creditors: amounts falling due within one year	6	(204)		(204)
Net current assets			-		-
Total assets less current liabilities			204		204

Net assets			204		204

Capital and reserves
Called up share capital	7	204	204
		204	204

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Mr G F Moss

Director

Date: 29 September 2023

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PVG HOLDINGS LIMITED

REGISTERED NUMBER: 09585283

BALANCE SHEET (CONTINUED)

AS AT 29 DECEMBER 2022

The notes on pages 4 to 6 form part of these financial statements.

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PVG HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2022

1.	GENERAL INFORMATION

PVG Holdings Limited is a Private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Tennyson House, Cambridge Business Park, Cambridge CB4 0WZ.
The Company's principal activity continued to be that of a holding company.
The Company is part of a group.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentational currency is Pound sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The Directors have considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because sufficient funds will be generated from continued group support. The Directors are confident that the group has the intention and ability to provide the support required.
The financial statements do not include any adjustments that would result from the withdrawal of this support.

2.3

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

2.4

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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PVG HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

2.6

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

2.7

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

EMPLOYEES

The average monthly number of employees, including directors, during the period was 2 (2021 - 2).

4.	FIXED ASSET INVESTMENTS

		Investments in subsidiary companies
		£
	COST
	At 1 January 2022	204
	At 29 December 2022	204

DEBTORS

					29 December	31 December
					2022	2021
					£	£


Other debtors	204	204

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PVG HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 DECEMBER 2022

	Amounts owed to group undertakings	204	204

Allotted, called up and fully paid

204 (2021 - 204) Ordinary shares of £1.00 each	204	204

8.	CONTINGENT LIABILITIES

The Company has given a guarantee in respect of the bank borrowings of its subsidiary undertakings, which amounted to £3,513,923 (2021 - £1,106,773). The guarantee is secured by a fixed charge and a debenture over the Company's assets.

9.	CONTROLLING PARTY

The Ultimate Controlling Parties are Mr G Moss, Mr J Hart, Mrs A Moss and Mrs H Hart by virtue of their 100% shareholding in the Company.

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