Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-302022-10-302021-10-31falseNo description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06957907 2021-10-31 2022-10-30 06957907 2020-10-31 2021-10-30 06957907 2022-10-30 06957907 2021-10-30 06957907 c:Director1 2021-10-31 2022-10-30 06957907 d:CurrentFinancialInstruments 2022-10-30 06957907 d:CurrentFinancialInstruments 2021-10-30 06957907 d:Non-currentFinancialInstruments 2022-10-30 06957907 d:Non-currentFinancialInstruments 2021-10-30 06957907 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-30 06957907 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-30 06957907 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-30 06957907 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-30 06957907 d:ShareCapital 2022-10-30 06957907 d:ShareCapital 2021-10-30 06957907 d:RetainedEarningsAccumulatedLosses 2021-10-31 2022-10-30 06957907 d:RetainedEarningsAccumulatedLosses 2022-10-30 06957907 d:RetainedEarningsAccumulatedLosses 2021-10-30 06957907 c:OrdinaryShareClass1 2021-10-31 2022-10-30 06957907 c:OrdinaryShareClass1 2022-10-30 06957907 c:OrdinaryShareClass1 2021-10-30 06957907 c:FRS102 2021-10-31 2022-10-30 06957907 c:AuditExempt-NoAccountantsReport 2021-10-31 2022-10-30 06957907 c:FullAccounts 2021-10-31 2022-10-30 06957907 c:PrivateLimitedCompanyLtd 2021-10-31 2022-10-30 06957907 6 2021-10-31 2022-10-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06957907









P3ECO (BICESTER) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 OCTOBER 2022

 
P3ECO (BICESTER) LIMITED
REGISTERED NUMBER: 06957907

STATEMENT OF FINANCIAL POSITION
AS AT 30 OCTOBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
-
20

  
-
20

Current assets
  

Debtors
 5 
1,010,635
1,018,000

Cash at bank and in hand
 6 
1,000
980

  
1,011,635
1,018,980

Creditors: amounts falling due within one year
 7 
(906,124)
(911,429)

Net current assets
  
 
 
105,511
 
 
107,551

Total assets less current liabilities
  
105,511
107,571

Creditors: amounts falling due after more than one year
 8 
(103,577)
(103,577)

  

Net assets
  
1,934
3,994


Capital and reserves
  

Called up share capital 
 9 
1,000
1,000

Profit and loss account
 10 
934
2,994

  
1,934
3,994


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 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 on 9 October 2023.

Page 1

 
P3ECO (BICESTER) LIMITED
REGISTERED NUMBER: 06957907
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 OCTOBER 2022




G Johnson
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
P3ECO (BICESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2022

1.Accounting policies

 
1.1

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:

 
1.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.3

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 Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
1.4

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
1.5

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.

 
1.6

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.

 
1.7

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 3

 
P3ECO (BICESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2022

1.Accounting policies (continued)

 
1.8

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Page 4

 
P3ECO (BICESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2022

1.Accounting policies (continued)


1.8
Financial instruments (continued)

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

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.

Page 5

 
P3ECO (BICESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2022

2.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements,
estimates and assumptions about the carrying value of assets and liabilities that are not readily
ascertainable from other sources. The estimates and underlying assumptions are based on historical
experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Prepayments & Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in
advance to suppliers. These provisions are estimated based upon the expected values of the invoices
which are issued and services received following the period end.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).


4.


Fixed asset investments





Investments in associates

£





At 31 October 2021
20


Disposals
(20)



At 30 October 2022
-




Page 6

 
P3ECO (BICESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2022

5.


Debtors


2022
2021
£
£

Due after more than one year

Amounts owed by joint ventures and associated undertakings
1,004,635
1,012,000

1,004,635
1,012,000

Due within one year

Trade debtors
6,000
6,000

1,010,635
1,018,000



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
1,000
980

1,000
980



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Corporation tax
400
200

Amounts owed to joint ventures and associated undertakings
905,004
910,509

Accruals and deferred income
720
720

906,124
911,429



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Other loans
100,000
100,000

Amounts owed to joint ventures and associated undertakings
3,577
3,577

103,577
103,577


Page 7

 
P3ECO (BICESTER) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2022

9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



1,000 (2021 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



10.


Reserves

Profit and loss account

The profit and loss reserve is fully distributable.


11.


Related party transactions

At the balance sheet date, the company had a balance owing to P3Eco Limited, a company of which Mr S Nardelli is a director of £905,004 (2021 - £910,509) in respect of trade debts.
At the balance sheet date, the company had a balance of £3,577 (2021 – £3,577) owing to Portfolio Property Partners Limited, a company of which Mr S Nardelli is a director.
The company also had a loan due from P3Eco Limited of £1,004,635 (2021 - £1,012,000) at the balance sheet date. No interest was payable on the loan during the year under review.

 
Page 8