PHCC Developments (West Kensington) Limited 06882378 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is property investment and associated services. Digita Accounts Production Advanced 6.30.9574.0 true false true 06882378 2022-03-01 2023-02-28 06882378 2023-02-28 06882378 core:RetainedEarningsAccumulatedLosses 2023-02-28 06882378 core:RevaluationReserve 2023-02-28 06882378 core:ShareCapital 2023-02-28 06882378 core:CurrentFinancialInstruments 2023-02-28 06882378 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 06882378 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 06882378 core:LandBuildings core:ShortLeaseholdAssets 2023-02-28 06882378 bus:SmallEntities 2022-03-01 2023-02-28 06882378 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 06882378 bus:FullAccounts 2022-03-01 2023-02-28 06882378 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 06882378 bus:RegisteredOffice 2022-03-01 2023-02-28 06882378 bus:CompanySecretary1 2022-03-01 2023-02-28 06882378 bus:Director1 2022-03-01 2023-02-28 06882378 bus:Director3 2022-03-01 2023-02-28 06882378 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 06882378 core:LandBuildings 2022-03-01 2023-02-28 06882378 core:LandBuildings core:ShortLeaseholdAssets 2022-03-01 2023-02-28 06882378 1 2022-03-01 2023-02-28 06882378 countries:England 2022-03-01 2023-02-28 06882378 core:LandBuildings core:ShortLeaseholdAssets 2022-02-28 06882378 2021-03-01 2022-02-28 06882378 2022-02-28 06882378 core:RetainedEarningsAccumulatedLosses 2022-02-28 06882378 core:RevaluationReserve 2022-02-28 06882378 core:ShareCapital 2022-02-28 06882378 core:CurrentFinancialInstruments 2022-02-28 06882378 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 06882378 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 06882378 core:LandBuildings core:ShortLeaseholdAssets 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 06882378

PHCC Developments (West Kensington) Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

PHCC Developments (West Kensington) Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

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

25 Lamonby Way
Cramlington
Northumberland
NE23 7XW

Accountants

Azets
1 Massey Road
Thornaby
Stockton-on-Tees
TS17 6DY

 

PHCC Developments (West Kensington) Limited

(Registration number: 06882378)
Statement of Financial Position as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

856,268

922,135

Current assets

 

Debtors

5

16,275

9,776

Cash at bank and in hand

 

39,204

52,079

 

55,479

61,855

Creditors: Amounts falling due within one year

6

(248,506)

(214,801)

Net current liabilities

 

(193,027)

(152,946)

Total assets less current liabilities

 

663,241

769,189

Creditors: Amounts falling due after more than one year

6

(973,222)

(1,030,634)

Net liabilities

 

(309,981)

(261,445)

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

251,559

483,783

Profit and loss account

(561,541)

(745,229)

Total equity

 

(309,981)

(261,445)

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; and

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 Board on 28 November 2023 and signed on its behalf by:
 

.........................................
Ms C Neve
Director

 

PHCC Developments (West Kensington) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is 25 Lamonby Way, Cramlington, Northumberland, NE23 7XW.

2

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

PHCC Developments (West Kensington) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

4

Tangible assets

Short leasehold land and buildings
£

Cost or valuation

At 1 March 2022

1,646,671

At 28 February 2023

1,646,671

Depreciation

At 1 March 2022

724,536

Charge for the year

65,867

At 28 February 2023

790,403

Carrying amount

At 28 February 2023

856,268

At 28 February 2022

922,135

5

Debtors

2023
£

2022
£

Prepayments

9,775

9,775

Other debtors

6,500

1

16,275

9,776

 

PHCC Developments (West Kensington) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

57,412

54,092

Amounts owed to group undertakings

93,268

62,868

Taxation and social security

 

-

1,073

Accruals and deferred income

 

93,761

93,966

Corporation tax liability

 

4,065

2,802

 

248,506

214,801

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

973,222

1,030,634

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.

7

Parent and ultimate parent undertaking

The company's immediate parent is Primary Health Care Centres (Developments) Limited, incorporated in England & Wales.

 The ultimate controlling party is Ms C Neve.