0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 33,600 33,600 11,088 11,088 22,512 xbrli:pure xbrli:shares iso4217:GBP 06331773 2022-09-01 2023-08-31 06331773 2023-08-31 06331773 2022-08-31 06331773 2021-09-01 2022-08-31 06331773 2022-08-31 06331773 2021-08-31 06331773 core:MotorVehicles 2022-09-01 2023-08-31 06331773 bus:Director1 2022-09-01 2023-08-31 06331773 core:MotorVehicles 2023-08-31 06331773 core:WithinOneYear 2023-08-31 06331773 core:WithinOneYear 2022-08-31 06331773 core:ShareCapital 2023-08-31 06331773 core:ShareCapital 2022-08-31 06331773 core:RetainedEarningsAccumulatedLosses 2023-08-31 06331773 core:RetainedEarningsAccumulatedLosses 2022-08-31 06331773 core:CostValuation core:Non-currentFinancialInstruments 2022-08-31 06331773 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-08-31 06331773 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-08-31 06331773 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-08-31 06331773 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2023-08-31 06331773 core:CostValuation core:Non-currentFinancialInstruments 2023-08-31 06331773 core:Non-currentFinancialInstruments 2023-08-31 06331773 core:Non-currentFinancialInstruments 2022-08-31 06331773 bus:SmallEntities 2022-09-01 2023-08-31 06331773 bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 06331773 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 06331773 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06331773 bus:FullAccounts 2022-09-01 2023-08-31
COMPANY REGISTRATION NUMBER: 06331773
PPQ Properties Limited
Filleted Unaudited Financial Statements
31 August 2023
PPQ Properties Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
22,512
Investments
5
2,413,844
2,415,894
------------
------------
2,436,356
2,415,894
Current assets
Cash at bank and in hand
734,936
569,172
Creditors: amounts falling due within one year
6
48,798
45,093
---------
---------
Net current assets
686,138
524,079
------------
------------
Total assets less current liabilities
3,122,494
2,939,973
------------
------------
Net assets
3,122,494
2,939,973
------------
------------
Capital and reserves
Called up share capital
2
2
Profit and loss account
3,122,492
2,939,971
------------
------------
Shareholder funds
3,122,494
2,939,973
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PPQ Properties Limited
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 12 March 2024 , and are signed on behalf of the board by:
B Gerrard
Director
Company registration number: 06331773
PPQ Properties Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First floor, 1 Duchess Street, London, W1W 6 AN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents income earned on investments held. Dividends are recognised in the period in which they are received. Interest is recognised on an accruals basis.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income. in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
33% reducing balance
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. 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. 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.
4. Tangible assets
Motor vehicles
Total
£
£
Cost
At 1 September 2022
Additions
33,600
33,600
--------
--------
At 31 August 2023
33,600
33,600
--------
--------
Depreciation
At 1 September 2022
Charge for the year
11,088
11,088
--------
--------
At 31 August 2023
11,088
11,088
--------
--------
Carrying amount
At 31 August 2023
22,512
22,512
--------
--------
At 31 August 2022
--------
--------
5. Investments
Shares in participating interests
Loans to participating interests
Other investments other than loans
Other loans
Total
£
£
£
£
£
Cost
At 1 September 2022
101
1,288,650
776,669
350,474
2,415,894
Additions
71,927
71,927
Disposals
( 65,056)
( 65,056)
Revaluations
11,570
11,570
Other movements
( 54,447)
33,956
( 20,491)
----
------------
---------
---------
------------
At 31 August 2023
101
1,234,203
795,110
384,430
2,413,844
----
------------
---------
---------
------------
Impairment
At 1 September 2022 and 31 August 2023
----
------------
---------
---------
------------
Carrying amount
At 31 August 2023
101
1,234,203
795,110
384,430
2,413,844
----
------------
---------
---------
------------
At 31 August 2022
101
1,288,650
776,669
350,474
2,415,894
----
------------
---------
---------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
44,384
39,083
Other creditors
4,414
6,010
--------
--------
48,798
45,093
--------
--------
7. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023
2022
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
795,110
776,669
---------
---------
8. Directors' advances, credits and guarantees
At the year end, the company owed the directors £4 (2022: £1,810). The loan was on interest free terms and repayable on demand.