Registration number:
PHCC Developments (West Kensington) Limited
Filleted
for the Year Ended 28 February 2023
PHCC Developments (West Kensington) Limited
Contents
Company Information |
|
Statement of Financial Position |
|
Notes to the Unaudited Financial Statements |
PHCC Developments (West Kensington) Limited
Company Information
Directors |
Ms C Neve Primary Health Care Centres (Developments) Limited |
Company secretary |
Mrs D A Chisholm |
Registered office |
|
Accountants |
|
PHCC Developments (West Kensington) Limited
(Registration number: 06882378)
Statement of Financial Position as at 28 February 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Revaluation reserve |
|
|
|
Profit and loss account |
( |
( |
|
Total equity |
( |
( |
For the financial 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.
Directors' responsibilities:
• |
|
• |
The directors acknowledge 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.
Approved and authorised for issue by the
......................................... |
PHCC Developments (West Kensington) Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The company meets its day to day working capital requirements through cash generated from operations and external borrowings.
At the balance sheet date, the company reported net liabilities of £309,981 (2022 - £261,445). The shareholders have indicated their willingness to finance any shortages in the company's day to day finances.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
PHCC Developments (West Kensington) Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)
2 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the statement of financial position at valuation, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
|
Land and buildings |
25 years straight line |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
PHCC Developments (West Kensington) Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)
Tangible assets |
Short leasehold land and buildings |
|
Cost or valuation |
|
At 1 March 2022 |
|
At 28 February 2023 |
|
Depreciation |
|
At 1 March 2022 |
|
Charge for the year |
|
At 28 February 2023 |
|
Carrying amount |
|
At 28 February 2023 |
|
At 28 February 2022 |
|
Debtors |
2023 |
2022 |
|
Prepayments |
|
|
Other debtors |
|
|
|
|
PHCC Developments (West Kensington) Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
||
Due within one year |
|||
Bank loans and overdrafts |
|
|
|
Amounts owed to group undertakings |
|
|
|
Taxation and social security |
- |
|
|
Accruals and deferred income |
|
|
|
Corporation tax liability |
4,065 |
2,802 |
|
|
|
Creditors include bank loans which are secured of £57,412 (2022 - £54,092).
Creditors: amounts falling due after more than one year
2023 |
2022 |
||
Due after one year |
|||
Loans and borrowings |
|
|
Creditors include bank loans which are secured of £973,222 (2022 - £1,030,634).
Creditors include bank loans repayable by instalments of £706,117 (2022- £778,971) due after more than five years.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is