Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.42023-01-01falseNo description of principal activity4truetrue 02756357 2023-01-01 2023-12-31 02756357 2023-12-31 02756357 2022-01-01 2022-12-31 02756357 2022-12-31 02756357 c:CompanySecretary1 2023-01-01 2023-12-31 02756357 c:Director1 2023-01-01 2023-12-31 02756357 c:Director2 2023-01-01 2023-12-31 02756357 c:Director3 2023-01-01 2023-12-31 02756357 c:RegisteredOffice 2023-01-01 2023-12-31 02756357 c:Agent1 2023-01-01 2023-12-31 02756357 d:FurnitureFittings 2023-01-01 2023-12-31 02756357 d:FurnitureFittings 2023-12-31 02756357 d:FurnitureFittings 2022-12-31 02756357 d:FreeholdInvestmentProperty 2023-12-31 02756357 d:FreeholdInvestmentProperty 2022-12-31 02756357 d:CurrentFinancialInstruments 2023-12-31 02756357 d:CurrentFinancialInstruments 2022-12-31 02756357 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02756357 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02756357 d:ShareCapital 2023-12-31 02756357 d:ShareCapital 2022-12-31 02756357 d:SharePremium 2023-12-31 02756357 d:SharePremium 2022-12-31 02756357 d:RetainedEarningsAccumulatedLosses 2023-12-31 02756357 d:RetainedEarningsAccumulatedLosses 2022-12-31 02756357 c:FRS102 2023-01-01 2023-12-31 02756357 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02756357 c:FullAccounts 2023-01-01 2023-12-31 02756357 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02756357 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 02756357







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


PRINCIPAL GROUP LIMITED






































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PRINCIPAL GROUP LIMITED
 


 
COMPANY INFORMATION


Directors
D R Ivimy 
R Ivimy 
S S Ryeland 




Company secretary
D R Ivimy



Registered number
02756357



Registered office
Broom Lea Cottage
Heath Lane

Albury

Guildford

Surrey

GU5 9DD




Accountants
Menzies LLP
Chartered Accountants

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Bankers
Lloyds Bank Plc
32 Commercial Way

Woking

Surrey

GU21 6ER





 


PRINCIPAL GROUP LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 6


 


PRINCIPAL GROUP LIMITED
REGISTERED NUMBER:02756357



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
100,003
100,003

Investment property
 6 
2,945,000
2,945,000

  
3,045,003
3,045,003

Current assets
  

Debtors: amounts falling due within one year
 7 
42,638
30,061

Cash at bank and in hand
  
79,836
72,071

  
122,474
102,132

Creditors: amounts falling due within one year
 8 
(36,379)
(43,169)

Net current assets
  
 
 
86,095
 
 
58,963

Total assets less current liabilities
  
3,131,098
3,103,966

Provisions for liabilities
  

Deferred tax
  
(84,344)
(78,135)

  
 
 
(84,344)
 
 
(78,135)

Net assets
  
3,046,754
3,025,831

Page 1

 


PRINCIPAL GROUP LIMITED
REGISTERED NUMBER:02756357


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
11,469
11,469

Share premium account
  
164,584
164,584

Profit and loss account
  
2,870,701
2,849,778

  
3,046,754
3,025,831


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 by: 




................................................
D R Ivimy
Director

Date: 5 April 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


PRINCIPAL GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Principal Group Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office and principal place of business is shown on the company information page.
The Company's functional and presentational currency is GBP.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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 income.

 
2.4

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:

Fixtures and fittings
-
over 5 years

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 the Statement of Income and Retained Earnings.

Page 3

 


PRINCIPAL GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet 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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
25,147



At 31 December 2023

25,147



Depreciation


At 1 January 2023
25,147



At 31 December 2023

25,147



Net book value



At 31 December 2023
-



At 31 December 2022
-

Page 4

 


PRINCIPAL GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
100,003



At 31 December 2023
100,003





6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
2,945,000



At 31 December 2023
2,945,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.





7.


Debtors

2023
2022
£
£


Trade debtors
730
6,800

Other debtors
37,241
19,858

Prepayments and accrued income
4,667
3,403

42,638
30,061


Page 5

 


PRINCIPAL GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,604
1,076

Corporation tax
5,804
4,668

Other taxation and social security
3,956
5,118

Other creditors
7,584
7,500

Accruals and deferred income
15,431
24,807

36,379
43,169


Page 6