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REGISTERED NUMBER: SC503254 (Scotland)




















Ping On Holdings Ltd

Unaudited Financial Statements

for the Period

1 October 2022 to 16 November 2023






Ping On Holdings Ltd (Registered number: SC503254)






Contents of the Financial Statements
for the Period 1 October 2022 to 16 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ping On Holdings Ltd

Company Information
for the Period 1 October 2022 to 16 November 2023







DIRECTOR: Ms H T Do



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC503254 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
41 South Gyle Crescent
Edinburgh
EH12 9DR

Ping On Holdings Ltd (Registered number: SC503254)

Balance Sheet
16 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 12,000
Tangible assets 5 - 3,600
Investments 6 - 8
- 15,608

CURRENT ASSETS
Cash at bank 5,543 5,564

CREDITORS
Amounts falling due within one year 7 269,217 273,775
NET CURRENT LIABILITIES (263,674 ) (268,211 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(263,674

)

(252,603

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (263,774 ) (252,703 )
SHAREHOLDERS' FUNDS (263,674 ) (252,603 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 16 November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 16 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Ping On Holdings Ltd (Registered number: SC503254)

Balance Sheet - continued
16 November 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 director and authorised for issue on 27 March 2024 and were signed by:





Ms H T Do - Director


Ping On Holdings Ltd (Registered number: SC503254)

Notes to the Financial Statements
for the Period 1 October 2022 to 16 November 2023

1. STATUTORY INFORMATION

Ping On Holdings Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 company has ceased trading and therefore the financial statements have been prepared on a break-up basis.

Preparation of consolidated financial statements
The financial statements contain information about Ping On Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.


Ping On Holdings Ltd (Registered number: SC503254)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 16 November 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 October 2022 15,000
Disposals (15,000 )
At 16 November 2023 -
AMORTISATION
At 1 October 2022 3,000
Eliminated on disposal (3,000 )
At 16 November 2023 -
NET BOOK VALUE
At 16 November 2023 -
At 30 September 2022 12,000

Ping On Holdings Ltd (Registered number: SC503254)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 16 November 2023

4. INTANGIBLE FIXED ASSETS - continued

Cost or valuation at 16 November 2023 is represented by:

Other
intangible
assets
£   
Valuation in 2020 (142,000 )
Valuation in 2022 (5,000 )
Valuation in 2023 (15,000 )
Cost 162,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 62,138
Disposals (62,138 )
At 16 November 2023 -
DEPRECIATION
At 1 October 2022 58,538
Eliminated on disposal (58,538 )
At 16 November 2023 -
NET BOOK VALUE
At 16 November 2023 -
At 30 September 2022 3,600

Ping On Holdings Ltd (Registered number: SC503254)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 16 November 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 October 2022 8
Disposals (8 )
At 16 November 2023 -
NET BOOK VALUE
At 16 November 2023 -
At 30 September 2022 8

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings - 8
Other creditors 269,217 273,767
269,217 273,775

The director's current account are unsecured, interest free and has no fixed term of repayment.