Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31No description of principal activitytrue2021-07-01false52trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11028977 2021-07-01 2022-12-31 11028977 2022-12-31 11028977 2020-07-01 2021-06-30 11028977 2021-06-30 11028977 c:CompanySecretary1 2021-07-01 2022-12-31 11028977 c:Director1 2021-07-01 2022-12-31 11028977 c:Director2 2021-07-01 2022-12-31 11028977 c:Director2 2022-12-31 11028977 c:Director3 2021-07-01 2022-12-31 11028977 c:Director3 2022-12-31 11028977 c:RegisteredOffice 2021-07-01 2022-12-31 11028977 d:ComputerEquipment 2021-07-01 2022-12-31 11028977 d:ComputerEquipment 2022-12-31 11028977 d:ComputerEquipment 2021-06-30 11028977 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-07-01 2022-12-31 11028977 d:CurrentFinancialInstruments 2022-12-31 11028977 d:CurrentFinancialInstruments 2021-06-30 11028977 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11028977 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 11028977 d:ShareCapital 2022-12-31 11028977 d:ShareCapital 2021-06-30 11028977 d:RetainedEarningsAccumulatedLosses 2022-12-31 11028977 d:RetainedEarningsAccumulatedLosses 2021-06-30 11028977 c:FRS102 2021-07-01 2022-12-31 11028977 c:Audited 2021-07-01 2022-12-31 11028977 c:FullAccounts 2021-07-01 2022-12-31 11028977 c:PrivateLimitedCompanyLtd 2021-07-01 2022-12-31 11028977 d:WithinOneYear 2022-12-31 11028977 d:WithinOneYear 2021-06-30 11028977 c:SmallCompaniesRegimeForAccounts 2021-07-01 2022-12-31 iso4217:GBP xbrli:pure
Company registration number: 11028977







FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2022


PACIFIC PRIME CONSULTANTS LIMITED






































img6eb7.png                        

 


PACIFIC PRIME CONSULTANTS LIMITED
 


 
COMPANY INFORMATION


Directors
Mr N Raymond 
Ms E Russell (resigned 1 June 2023)
Mr J Hill (appointed 14 June 2022)




Company secretary
Ms E Russell



Registered number
11028977



Registered office
70 Gracechurch Street

London

EC3V 0HR




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Victoria House

50-58 Victoria Road

Farnborough

Hampshire

GU14 7PG





 


PACIFIC PRIME CONSULTANTS LIMITED
REGISTERED NUMBER:11028977



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

31 December
30 June
2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,633
-

Current assets
  

Debtors: amounts falling due within one year
 5 
150,507
266,349

Cash at bank and in hand
  
967,343
489,052

  
1,117,850
755,401

Creditors: amounts falling due within one year
 6 
(806,939)
(335,747)

Net current assets
  
 
 
310,911
 
 
419,654

Total assets less current liabilities
  
315,544
419,654

Provisions for liabilities
  

Deferred tax
  
(574)
-

  
 
 
(574)
 
 
-

Net assets
  
314,970
419,654


Capital and reserves
  

Called up share capital 
  
250,000
250,000

Profit and loss account
  
64,970
169,654

  
314,970
419,654


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 N Raymond
Director

Date: 14 November 2023

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 


PACIFIC PRIME CONSULTANTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Pacific Prime Consultants Limited is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The address of the registered office, which is also the principal place of business, is given on the company information page of these financial statements.
The financial statements are presented in sterling which is the function currency of the company and rounded to the nearest pound sterling. 
The financial statements have been prepared for the 18 month period to 31 December 2022 to align the year end with the group. The comparatives are for the 12 month period to 30 June 2021.

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

Foreign currency translation

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Turnover comprises commission which is recognised in the statement of comprehensive income at the inception of the policy as this is when the company has earned a right to the consideration. Alterations in income arising from premium adjustments are taken into account as and when such adjustments arise.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 


PACIFIC PRIME CONSULTANTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the period 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 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

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%
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.

 
2.7

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 5 (2021 - 2).

Page 3

 


PACIFIC PRIME CONSULTANTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

4.


Tangible fixed assets







Computer equipment

£



Cost 


Additions
5,355



At 31 December 2022

5,355



Depreciation


Charge for the period on owned assets
722



At 31 December 2022

722



Net book value



At 31 December 2022
4,633



At 30 June 2021
-

Page 4

 


PACIFIC PRIME CONSULTANTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

5.


Debtors

31 December
30 June
2022
2021
£
£


Trade debtors
300
-

Other debtors
5,460
5,461

Prepayments and accrued income
144,747
260,733

Deferred taxation
-
155

150,507
266,349



6.


Creditors: Amounts falling due within one year

31 December
30 June
2022
2021
£
£

Trade creditors
21,608
999

Amounts owed to group undertakings
755,274
286,285

Corporation tax
9,736
38,078

Other taxation and social security
766
766

Other creditors
1,613
619

Accruals and deferred income
17,942
9,000

806,939
335,747



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,790 (2021 - £3,380) . Contributions totalling £1,613 (2021 - £619) were payable to the fund at the reporting date and are included in creditors.


8.


Commitments under operating leases

At 31 December 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 December
30 June
2022
2021
£
£


Not later than 1 year
3,554
-

3,554
-

Page 5

 


PACIFIC PRIME CONSULTANTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

9.


Controlling party

The company is a wholly owned subsidiary undertaking of PP Global Management Limited, a company incorporated in Hong Kong, which is controlled by Mr N Raymond. This company prepares smallest and largest consolidated financial statements that the company is included in.
The registered office of PP Global Management Limited, and where consolidated financial statements can be obtained from, is Units 5-11 35th Floor, One Hung To Road, Kwun Tong, Kowloon, Hong Kong.


10.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2022 was unqualified.

The audit report was signed on 15 November 2023 by Mike Ayres ACA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 6