0 28/02/2023 2023-02-28 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-03-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 08874895 2022-03-01 2023-02-28 08874895 2023-02-28 08874895 2022-02-28 08874895 core:Subsidiary1 2022-03-01 2023-02-28 08874895 core:Subsidiary2 2022-03-01 2023-02-28 08874895 bus:Director1 2022-03-01 2023-02-28 08874895 core:WithinOneYear 2023-02-28 08874895 core:WithinOneYear 2022-02-28 08874895 core:ShareCapital 2023-02-28 08874895 core:ShareCapital 2022-02-28 08874895 core:RetainedEarningsAccumulatedLosses 2023-02-28 08874895 core:RetainedEarningsAccumulatedLosses 2022-02-28 08874895 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 08874895 core:Non-currentFinancialInstruments 2023-02-28 08874895 core:Non-currentFinancialInstruments 2022-02-28 08874895 core:Subsidiary1 2021-03-01 2022-02-28 08874895 core:Subsidiary2 2021-03-01 2022-02-28 08874895 bus:SmallEntities 2022-03-01 2023-02-28 08874895 bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 08874895 bus:FullAccounts 2022-03-01 2023-02-28 08874895 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 08874895 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 08874895 core:AllAssociates 2022-03-01 2023-02-28 08874895 1 2022-03-01 2023-02-28
Company registration number: 08874895
P.A.E Investments Limited
Unaudited filleted financial statements
28 February 2023
P.A.E Investments Limited
Contents
Statement of financial position
Notes to the financial statements
P.A.E Investments Limited
Statement of financial position
28 February 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 5 200 200
_______ _______
200 200
Current assets
Debtors 6 368,982 388,995
Cash at bank and in hand 81,367 61,368
_______ _______
450,349 450,363
Creditors: amounts falling due
within one year 7 ( 26) ( 26)
_______ _______
Net current assets 450,323 450,337
_______ _______
Total assets less current liabilities 450,523 450,537
_______ _______
Net assets 450,523 450,537
_______ _______
Capital and reserves
Called up share capital 300 300
Profit and loss account 450,223 450,237
_______ _______
Shareholders funds 450,523 450,537
_______ _______
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 09 October 2023 , and are signed on behalf of the board by:
Mr Paul Anthony Edwards
Director
Company registration number: 08874895
P.A.E Investments Limited
Notes to the financial statements
Year ended 28 February 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 Deansfield House, 98 Lancaster Road, Newcastle under Lyme, Staffordshire, ST5 1DS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 0. (2022: 0).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 March 2022 and 28 February 2023 200 200
_______ _______
Impairment
At 1 March 2022 and 28 February 2023 - -
_______ _______
Carrying amount
At 28 February 2023 200 200
_______ _______
At 28 February 2022 200 200
_______ _______
Investments in group undertakings
Registered office Class of share Percentage of shares held
Subsidiary undertakings
P A Edwards Surfacing Limited Deansfield House, 98 Lancaster Road, Newcastle under Lyme, Staffordshire, ST5 1DS Ordinary 100
P.A.E Properties Limited Deansfield House, 98 Lancaster Road, Newcastle under Lyme, Staffordshire, ST5 1DS Ordinary 100
The results and capital and reserves for the period of the trading companies are as follows:
Capital and Profit/(loss)
reserves for the
period
2023 2022 2023 2022
£ £ £ £
Subsidiary undertakings
P A Edwards Surfacing Limited 100,196 51,148 69,048 51,071
P.A.E Properties Limited 119,488 99,749 19,739 21,194
6. Debtors
2023 2022
£ £
Amounts owed by group undertakings 368,882 388,895
Share capital not paid 100 100
_______ _______
368,982 388,995
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Director loan account 26 26
_______ _______
8. Related party transactions
The following companies are considered to be related parties by virtue of them being 100% subsidiary undertakings of the company:P A Edwards Surfacing LimitedP.A.E. Properties LimitedAt the balance sheet date the company was owed £75,269 by P A Edwards Surfacing Limited. (2022 : £75,269)At the balance sheet date the company was owed £293,613 by P.A.E Properties Limited. (2022 : £313,626) Mr Paul Anthony Edwards is a related party by virtue of his directorship and shareholding in the company.
9. Controlling party
Mr Paul Anthony Edwards is the ultimate controlling party by virtue of his controlling shareholding in the company.