Registered number
12432622
PPSM Holdings Ltd
Unaudited Consolidated Filleted Accounts and Notes
For the year neded
31 January 2023
PPSM Holdings Ltd
Registered number: 12432622
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 63,797 28,577
Current assets
Stocks 23,602 -
Debtors 4 108,200 140,572
Cash at bank and in hand 7,319 14,107
139,121 154,679
Creditors: amounts falling due within one year 5 (45,531) (112,671)
Net current assets 93,590 42,008
Total assets less current liabilities 157,387 70,585
Creditors: amounts falling due after more than one year 6 (123,258) (85,272)
Net assets/(liabilities) 34,129 (14,687)
Capital and reserves
Called up share capital 100 100
Share premium 300 300
Profit and loss account 33,729 (15,087)
Shareholders' funds 34,129 (14,687)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Pradip Patel
Director
Approved by the board on 20 October 2023
PPSM Holdings Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings Over the life of the lease
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 - 92,971 43,817 136,788
Additions 8,003 52,029 - 60,032
At 31 January 2023 8,003 145,000 43,817 196,820
Depreciation
At 1 February 2022 - 83,264 24,947 108,211
Charge for the year - 17,014 7,798 24,812
At 31 January 2023 - 100,278 32,745 133,023
Net book value
At 31 January 2023 8,003 44,722 11,072 63,797
At 31 January 2022 - 9,707 18,870 28,577
4 Debtors 2023 2022
£ £
Trade debtors 38,679 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 61,275 106,406
Other debtors 8,246 34,166
108,200 140,572
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 118,682
Amounts owed to group undertakings and undertakings in which the company has a participating interest 84,041 -
Taxation and social security costs (18,347) 15,062
Other creditors (20,163) (21,073)
45,531 112,671
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 31,667 42,638
Other creditors 91,591 42,634
123,258 85,272
7 Other information
PPSM Holdings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4 Laurel Park
Harrow
HA3 6AU
PPSM Holdings Ltd 12432622 false 2022-02-01 2023-01-31 2023-01-31 VT Final Accounts April 2022 Pradip Patel No description of principal activity 12432622 2021-02-01 2022-01-31 12432622 core:WithinOneYear 2022-01-31 12432622 core:AfterOneYear 2022-01-31 12432622 core:ShareCapital 2022-01-31 12432622 core:SharePremium 2022-01-31 12432622 core:RetainedEarningsAccumulatedLosses 2022-01-31 12432622 2022-02-01 2023-01-31 12432622 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12432622 bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 12432622 bus:Director40 2022-02-01 2023-01-31 12432622 1 2022-02-01 2023-01-31 12432622 2 2022-02-01 2023-01-31 12432622 core:LandBuildings 2022-02-01 2023-01-31 12432622 core:PlantMachinery 2022-02-01 2023-01-31 12432622 core:Vehicles 2022-02-01 2023-01-31 12432622 countries:England 2022-02-01 2023-01-31 12432622 bus:FRS102 2022-02-01 2023-01-31 12432622 bus:FullAccounts 2022-02-01 2023-01-31 12432622 2023-01-31 12432622 core:WithinOneYear 2023-01-31 12432622 core:AfterOneYear 2023-01-31 12432622 core:ShareCapital 2023-01-31 12432622 core:SharePremium 2023-01-31 12432622 core:RetainedEarningsAccumulatedLosses 2023-01-31 12432622 core:LandBuildings 2023-01-31 12432622 core:PlantMachinery 2023-01-31 12432622 core:Vehicles 2023-01-31 12432622 2022-01-31 12432622 core:LandBuildings 2022-01-31 12432622 core:PlantMachinery 2022-01-31 12432622 core:Vehicles 2022-01-31 iso4217:GBP xbrli:pure