Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity1213truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06658705 2022-04-01 2023-03-31 06658705 2021-04-01 2022-03-31 06658705 2023-03-31 06658705 2022-03-31 06658705 c:Director1 2022-04-01 2023-03-31 06658705 c:Director2 2022-04-01 2023-03-31 06658705 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 06658705 d:Buildings d:ShortLeaseholdAssets 2023-03-31 06658705 d:Buildings d:ShortLeaseholdAssets 2022-03-31 06658705 d:MotorVehicles 2022-04-01 2023-03-31 06658705 d:MotorVehicles 2023-03-31 06658705 d:MotorVehicles 2022-03-31 06658705 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06658705 d:FurnitureFittings 2022-04-01 2023-03-31 06658705 d:OfficeEquipment 2022-04-01 2023-03-31 06658705 d:OfficeEquipment 2023-03-31 06658705 d:OfficeEquipment 2022-03-31 06658705 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06658705 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06658705 d:Goodwill 2022-04-01 2023-03-31 06658705 d:Goodwill 2023-03-31 06658705 d:Goodwill 2022-03-31 06658705 d:CurrentFinancialInstruments 2023-03-31 06658705 d:CurrentFinancialInstruments 2022-03-31 06658705 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06658705 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06658705 d:ShareCapital 2023-03-31 06658705 d:ShareCapital 2022-03-31 06658705 d:RetainedEarningsAccumulatedLosses 2023-03-31 06658705 d:RetainedEarningsAccumulatedLosses 2022-03-31 06658705 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-03-31 06658705 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2022-03-31 06658705 c:FRS102 2022-04-01 2023-03-31 06658705 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06658705 c:FullAccounts 2022-04-01 2023-03-31 06658705 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06658705 2 2022-04-01 2023-03-31 06658705 6 2022-04-01 2023-03-31 06658705 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06658705 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 06658705 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 06658705










PYMM & CO. LETTINGS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
PYMM & CO. LETTINGS LTD
REGISTERED NUMBER:06658705

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
12,212
14,248

Tangible assets
 5 
10,135
13,077

Investments
 6 
86,793
101,259

  
109,140
128,584

Current assets
  

Debtors: amounts falling due within one year
 7 
205,165
223,039

Cash at bank and in hand
 8 
185,499
105,461

  
390,664
328,500

Creditors: amounts falling due within one year
  
(130,319)
(127,155)

Net current assets
  
 
 
260,345
 
 
201,345

Total assets less current liabilities
  
369,485
329,929

Provisions for liabilities
  

Deferred tax
  
(1,662)
-

Other provisions
 10 
(20,000)
(20,000)

  
 
 
(21,662)
 
 
(20,000)

Net assets
  
347,823
309,929


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
347,723
309,829

  
347,823
309,929


Page 1

 
PYMM & CO. LETTINGS LTD
REGISTERED NUMBER:06658705
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 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 income statement 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 S P Monument
................................................
Mr S M Pymm
Director
Director


Date: 27 October 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
PYMM & CO. LETTINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Pymm & Co. Lettings Ltd is a private company limited by shares and incorporated in England and Wales, registration number 06658705. The registered office is 4 Ber Street, Norwich, NR1 3EJ.

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 financial statements are presented in sterling which is the functional currency of the company and round to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PYMM & CO. LETTINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Income statement over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

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.

Page 4

 
PYMM & CO. LETTINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Leasehold Property
-
10% straight line
Motor vehicles
-
20% straight line
Fixtures & fittings
-
20% straight line
Office equipment
-
20% straight line

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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

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.

 
2.10

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.

 
2.11

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 5

 
PYMM & CO. LETTINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 13).

Page 6

 
PYMM & CO. LETTINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
20,357



At 31 March 2023

20,357



Amortisation


At 1 April 2022
6,109


Charge for the year on owned assets
2,036



At 31 March 2023

8,145



Net book value



At 31 March 2023
12,212



At 31 March 2022
14,248



Page 7

 
PYMM & CO. LETTINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





S/Term Leasehold Property
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
13,504
13,626
26,645
53,775


Additions
-
-
4,623
4,623


Disposals
-
(4,400)
-
(4,400)



At 31 March 2023

13,504
9,226
31,268
53,998



Depreciation


At 1 April 2022
12,064
9,315
19,319
40,698


Charge for the year on owned assets
591
395
3,059
4,045


Disposals
-
(880)
-
(880)



At 31 March 2023

12,655
8,830
22,378
43,863



Net book value



At 31 March 2023
849
396
8,890
10,135



At 31 March 2022
1,440
4,311
7,326
13,077

Page 8

 
PYMM & CO. LETTINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
144,656



At 31 March 2023

144,656



Impairment


At 1 April 2022
43,397


Charge for the period
14,466



At 31 March 2023

57,863



Net book value



At 31 March 2023
86,793



At 31 March 2022
101,259


7.


Debtors

2023
2022
£
£


Trade debtors
462
85,903

Amounts owed by joint ventures and associated undertakings
197,781
132,000

Other debtors
420
1,170

Prepayments and accrued income
6,502
3,966

205,165
223,039


Page 9

 
PYMM & CO. LETTINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
185,499
105,461

185,499
105,461



9.


Deferred taxation




2023


£






Charged to profit or loss
(1,662)



At end of year
(1,662)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,662)
-

(1,662)
-


10.


Provisions




Provisions

£





At 1 April 2022
20,000



At 31 March 2023
20,000

The dilapidation's provision represents the potential future liabilities arising on the costs to put the leased units the company occupies back into the original state when first leased.

Page 10

 
PYMM & CO. LETTINGS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Related party transactions

M P H S Developments Limited
M P H S Developments Limited is a related party of Pymm & Co Lettings Limited due to the exsistence of common shareholders and directors. 
The following balances at the year end were owed by/to M P H S Developments Limited:-  


2023
2022
£
£

Owed by
197,781
132,000
197,781
132,000

 
Page 11