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REGISTERED NUMBER: 06813395 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

PM & HP HOLDINGS LIMITED

PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 10


PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,176 4,436
Investments 5 16,270 16,090
Investment property 6 215,000 247,500
235,446 268,026

CURRENT ASSETS
Debtors 7 1,380,458 970,340
Cash at bank - 13,354
1,380,458 983,694
CREDITORS
Amounts falling due within one year 8 (182,472 ) (57,318 )
NET CURRENT ASSETS 1,197,986 926,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,433,432

1,194,402

CREDITORS
Amounts falling due after more than one
year

9

(123,887

)

(145,797

)

PROVISIONS FOR LIABILITIES (11,872 ) (5,927 )
NET ASSETS 1,297,673 1,042,678

CAPITAL AND RESERVES
Called up share capital 232 232
Non-distributable reserve 32,485 29,832
Capital redemption reserve 164 164
Retained earnings 1,264,792 1,012,450
1,297,673 1,042,678

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:





Mr P Mason - Director


PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

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


1. STATUTORY INFORMATION

PM & HP HOLDINGS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06813395

Registered office: C/o Grindco 427 Ltd
Unit 62 Longton Exchange
Longton
Stoke on Trent
Staffordshire
ST3 2JA

The principal activity of the company during the year is that of a holding company. The company also holds some investment property that is used within the trading group.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Valuation of investment property
The directors consider the investment properties to be stated at fair value as at 31 July 2023.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2022 4,896
Additions 230
Reclassification/transfer 1,756
At 31 July 2023 6,882
DEPRECIATION
At 1 August 2022 460
Charge for year 1,393
Reclassification/transfer 853
At 31 July 2023 2,706
NET BOOK VALUE
At 31 July 2023 4,176
At 31 July 2022 4,436

PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2022 16,090
Additions 180
At 31 July 2023 16,270
NET BOOK VALUE
At 31 July 2023 16,270
At 31 July 2022 16,090

PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. FIXED ASSET INVESTMENTS - continued

The company owns 100% of the issued share capital of the companies listed below:

Grindco 427 Limited, a company incorporated in England and Wales. The principal activity of the company is to be a leading retailer providing alcohol, confectionery and everyday essentials at competitive prices. The registered office of the subsidiary is Thorougoods Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

£1 Baguettes & Pies Dividy Limited, a company incorporated in England and Wales. The principal activity of the company is the retail of food. The registered office of the subsidiary is Grindco 427 Ltd Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

£1 Baguettes & Pies (Longton) Limited, a company incorporated in England and Wales. The principal activity of the company is the retail of food. The registered office of the subsidiary is C/O Grindco 427 Ltd Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

iVape Tunstall Limited, a company incorporated in England and Wales. The principal activity of the company is the retail of e-cigs and accessories. The registered office of the subsidiary is Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

iVape Longton Limited, a company incorporated in England and Wales. The principal activity of the company is the retail of e-cigs and accessories. The registered office of the subsidiary is Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

Bargain Booze (Dividy Road) Limited, a company incorporated in England and Wales. The principal activity of the company is to be a leading retailer providing alcohol, confectionary and everyday essentials at competitive prices. The registered office of the subsidiary is Grindco 427 Ltd Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

Bargain Booze Biddulph Limited, a company incorporated in England and Wales. The principal activity of the company is to be a leading retailer providing alcohol, confectionary and everyday essentials at competitive prices. The registered office of the subsidiary is Grindco 427 Ltd Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

Bargain Booze Tunstall Limited, a company incorporated in England and Wales. The principal activity of the company is to be a leading retailer providing alcohol, confectionary and everyday essentials at competitive prices. The registered office of the subsidiary is Grindco 427 Ltd Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

Bargain Booze Abbey Hulton Limited, a company incorporated in England and Wales. The principal activity of the company is to be a leading retailer providing alcohol, confectionary and everyday essentials at competitive prices. The registered office of the subsidiary is Grindco 427 Ltd Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

Bargain Booze (Leek) Limited, a company incorporated in England and Wales. The company is dormant. The registered office of the subsidiary is Grindco 427 Ltd Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

The company owns 95% of the issued share capital of the company listed below:

iVape Wholesale Limited, a company incorporated in England and Wales. The principal activity of the company is the retail of e-cigs and accessories. The registered office of the subsidiary is Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

The company owns 80% of the issued share capital of the company listed below:


PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. FIXED ASSET INVESTMENTS - continued
iVape.Delivery Limited, a company incorporated in England and Wales. The principal activity of the company is the retail of e-cigs and accessories. The registered office of the subsidiary is Unit 62 Longton Exchange, Longton, Stoke On Trent, Staffordshire, ST3 2JA.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 247,500
Disposals (36,250 )
Revaluations 13,777
Impairments (10,027 )
At 31 July 2023 215,000
NET BOOK VALUE
At 31 July 2023 215,000
At 31 July 2022 247,500

The directors consider the investment properties are stated at fair value as at 31 July 2023.

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2018 89,946
Valuation in 2020 (60,000 )
Valuation in 2022 5,814
Valuation in 2023 (2,474 )
Cost 181,714
215,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Amounts owed by group undertakings 1,143,932 771,534
Amounts due from connected
companies 38,130 17,580
Directors' loan accounts 194,180 177,937
VAT 4,216 2,289
Prepayments - 1,000
1,380,458 970,340

Amounts owed by group undertakings and connected companies are unsecured, interest free and are repayable on demand.

PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 100,012 16,027
Trade creditors 1,532 1,532
Amounts owed to group undertakings 45,567 4,478
Other creditors 80 -
Amounts due to connected
companies 35,281 35,281
182,472 57,318

Amounts owed to group undertakings and connected companies are unsecured, interest free and are repayable on demand.

A debenture dated 3 April 2009 exists by the way of a fixed and floating charge over the property and assets of the company.

There is a charge in favour of National Westminster Bank Plc dated 28 May 2019 giving a fixed charge over the properties 28 and 30 Tunstall Road, Biddulph.

The bank loans are secured by way of fixed and floating charges over the assets of the company.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans - 1-2 years 18,969 16,027
Bank loans - 2-5 years 50,632 48,777
Bank loans payable more than
5 years by instalments 54,286 80,993
123,887 145,797

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments 54,286 80,993
54,286 80,993

PM & HP HOLDINGS LIMITED (REGISTERED NUMBER: 06813395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Mr P Mason
Balance outstanding at start of year 161,191 163,521
Amounts advanced 229,107 167,595
Amounts repaid (215,205 ) (169,925 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 175,093 161,191

Mrs P Mason
Balance outstanding at start of year 16,746 16,656
Amounts advanced 19,141 16,840
Amounts repaid (16,800 ) (16,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,087 16,746

The directors had interest free loans during the year. By virtue of the loan accounts, a liability to taxation exists under section 455 CTA 2010 in the sum of £65,536 which will be repaid or discharged when the loans are repaid. It is anticipated that the loans will be repaid within nine months of the year end and, as such, no provision for the taxation has been made.

11. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.