Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31false22022-02-01No description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08356311 2022-02-01 2023-01-31 08356311 2021-02-01 2022-01-31 08356311 2023-01-31 08356311 2022-01-31 08356311 c:Director2 2022-02-01 2023-01-31 08356311 d:ComputerEquipment 2022-02-01 2023-01-31 08356311 d:ComputerEquipment 2023-01-31 08356311 d:ComputerEquipment 2022-01-31 08356311 d:CurrentFinancialInstruments 2023-01-31 08356311 d:CurrentFinancialInstruments 2022-01-31 08356311 d:Non-currentFinancialInstruments 2023-01-31 08356311 d:Non-currentFinancialInstruments 2022-01-31 08356311 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 08356311 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 08356311 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 08356311 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 08356311 d:ShareCapital 2023-01-31 08356311 d:ShareCapital 2022-01-31 08356311 d:RetainedEarningsAccumulatedLosses 2023-01-31 08356311 d:RetainedEarningsAccumulatedLosses 2022-01-31 08356311 c:FRS102 2022-02-01 2023-01-31 08356311 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 08356311 c:FullAccounts 2022-02-01 2023-01-31 08356311 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 08356311









PCM RESIDENTIAL LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
PCM RESIDENTIAL LTD
REGISTERED NUMBER: 08356311

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 5 
-
501

Cash at bank and in hand
 6 
1
1

  
1
502

Creditors: amounts falling due within one year
 7 
(51,455)
(40,589)

Total assets less current liabilities
  
(51,454)
(40,087)

Creditors: amounts falling due after more than one year
 8 
(15,031)
(19,290)

  

Net liabilities
  
(66,485)
(59,377)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(66,585)
(59,477)

  
(66,485)
(59,377)


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 year 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 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 on 9 October 2023.




................................................
Paul Mace
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
PCM RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

PCM Residential Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 08356311. The address of the registered office is 8 Balfern Grove, London, England, W4 2JX.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis as the director believes adequate resources exist to enable it to meet its working capital requirements for at least twelve months from approval of these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 2

 
PCM RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

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
-
25%

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 recognised in profit or loss.

 
2.6

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.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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.

Page 3

 
PCM RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.9

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.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 February 2022
1,938



At 31 January 2023

1,938



Depreciation


At 1 February 2022
1,938



At 31 January 2023

1,938



Net book value



At 31 January 2023
-



At 31 January 2022
-

Page 4

 
PCM RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Prepayments and accrued income
-
501

-
501



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1
1

Less: bank overdrafts
(3,600)
(3,480)

(3,599)
(3,479)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
3,600
3,480

Other creditors
19,399
14,623

Accruals and deferred income
28,456
22,486

51,455
40,589



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bounce back loan
15,031
19,290

15,031
19,290


The company borrowed £20,000 as part of the Government's Bounce Back Loan (BBL) scheme in May 2020. This loan is for a term of 6 years and interest is fixed at 2.5% per annum.

Page 5

 
PCM RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Related party transactions

Included in other creditors at the balance sheet date is an amount owed to the directors of £18,599 (2022: £14,123). This loan is interest free and repayable on demand. 
During the year the directors charged the company £51,000 (2022: £51,000) in relation to rental services provided.

 
Page 6