REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 June 2023 |
for |
PPL UK Holdings Limited |
Previously known as |
PCG UK Holdings Ltd |
REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 June 2023 |
for |
PPL UK Holdings Limited |
Previously known as |
PCG UK Holdings Ltd |
PPL UK Holdings Limited (Registered number: 08872102) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PPL UK Holdings Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Hazlemere |
70 Chorley New Road |
Bolton |
Lancashire |
BL1 4BY |
PPL UK Holdings Limited (Registered number: 08872102) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Contributed capital | 6 |
Retained earnings | 6 | ( |
) |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PPL UK Holdings Limited (Registered number: 08872102) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
PPL UK Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at fair value. |
Trade and other receivables |
Trade and other receivables are recognised initially at fair value. Subsequent to initial recognition, they are measured at cost less impairment losses for bad and doubtful debts. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances in hand and at bank. |
Trade and other payables |
Trade and other payables on normal terms are stated at their nominal value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. |
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. |
Exchange gains and losses are recognised in the profit and loss account. |
PPL UK Holdings Limited (Registered number: 08872102) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
No material uncertainties, that cast significant doubt about the ability of the company to continue in operational existence for the foreseeable future, have been identified by the directors. |
Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1 July 2022 |
Exchange differences | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Cost or valuation at 30 June 2023 is represented by: |
Shares in |
group |
undertakings |
£ |
Valuation in 2022 | (2,125,582 | ) |
Valuation in 2023 | (120,735 | ) |
Cost | 5,089,582 |
2,843,265 |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
PPL UK Holdings Limited (Registered number: 08872102) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | RESERVES |
Retained | Contributed |
earnings | capital | Totals |
£ | £ | £ |
At 1 July 2022 | ( |
) | 2,963,999 |
Deficit for the year | ( |
) | ( |
) |
Bonus share issue | ( |
) | ( |
) |
Cancellation of shares | 10,896,611 | - | 10,896,611 |
At 30 June 2023 | 2,843,264 |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | POST BALANCE SHEET EVENTS |
On the 2nd August 2023, PCG UK Holdings LLC completed a sale of PCG UK Holdings Limited and it's subsidiary, Public Consulting Group UK Ltd to Elzane Holdings Limited. |
Prior to the sale of the company, a significant dividend amount was received from Public Consulting Group UK Ltd, as a result of a sale of its computer software and a significant dividend was then paid to the Ultimate Parent Company. |
There have been no adjustments made within the accounts for the year-ended 30th June 2023, as a consequence of these transactions, as none are deemed necessary. |
9. | ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY |
As at 30 June 2023, the Company's immediate parent company is PCG UK Holdings LLC, a company incorporated in the United States of America. The ultimate parent company is Public Consulting Group Holdings, Inc., a company incorporated in the United States of America. In the opinion of the Directors the ultimate controlling party is William Mosakowski. |
The registered office and that of its principal place of business is 1 Smithy Court, Smithy Brook Road, Wigan, WN3 6PS, England. |