3 false false false false false false false false false true false false true true true true No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 349,970 349,970 349,970 744,693 392,288 92,558 1,044,423 1,044,423 744,693 xbrli:pure xbrli:shares iso4217:GBP 11178923 2022-04-01 2023-03-31 11178923 2023-03-31 11178923 2021-04-01 2022-03-31 11178923 2022-03-31 11178923 bus:Director3 2022-04-01 2023-03-31 11178923 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11178923 core:AfterOneYear 2023-03-31 11178923 core:WithinOneYear 2023-03-31 11178923 core:WithinOneYear 2022-03-31 11178923 core:ShareCapital 2023-03-31 11178923 core:ShareCapital 2022-03-31 11178923 core:RetainedEarningsAccumulatedLosses 2023-03-31 11178923 core:RetainedEarningsAccumulatedLosses 2022-03-31 11178923 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 11178923 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 11178923 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2023-03-31 11178923 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 11178923 core:Non-currentFinancialInstruments 2023-03-31 11178923 core:Non-currentFinancialInstruments 2022-03-31 11178923 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 11178923 bus:SmallEntities 2022-04-01 2023-03-31 11178923 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11178923 bus:FullAccounts 2022-04-01 2023-03-31 11178923 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 11178923 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 11178923
PAGET HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2023
PAGET HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
349,970
Investments
6
1,044,423
744,693
-------------
----------
1,394,393
744,693
CURRENT ASSETS
Debtors
7
2,211
930
Cash at bank and in hand
120,536
435,434
----------
----------
122,747
436,364
CREDITORS: amounts falling due within one year
8
( 986,715)
( 900,639)
----------
----------
NET CURRENT LIABILITIES
( 863,968)
( 464,275)
-------------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
530,425
280,418
CREDITORS: amounts falling due after more than one year
9
( 239,763)
----------
----------
NET ASSETS
290,662
280,418
----------
----------
CAPITAL AND RESERVES
Called up share capital
5,040
5,040
Profit and loss account
285,622
275,378
----------
----------
SHAREHOLDERS FUNDS
290,662
280,418
----------
----------
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 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PAGET HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
Mr A Spitzer
Director
Company registration number: 11178923
PAGET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 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 New Burlington House, 1075 Finchley Road, London, NW11 0PU.
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.
Going concern
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern notwithstanding the uncertainty relating to Covid-19 and Brexit. The directors considers this to be appropriate having regard to the continued provision of financial support by the directors.
Disclosure exemptions
In these financial statements, the company is considered to be a qualifying entity (for the purposes of this FRS) and has applied the exemptions available under Section 1A of FRS102 in respect of the following disclosures: - Reconciliation of the number of shares outstanding from the beginning to the end of the period; - Cash Flow Statement and related notes; - Key Management Personnel compensation; and - Basic and Other Financial Instruments.
Judgements and key sources of estimation uncertainty
The preparation of financial statements in conformity with the provisions of FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company’s accounting policies.
Turnover
The turnover of the company is represented by rents receivable in respect of its investment in various property syndicates.
Taxation
The taxation expense represents the aggregate amount of current and deferred 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 or directly 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in joint ventures
Investments in joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
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
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entry after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Freehold property
£
Cost
At 1 April 2022
Additions
349,970
----------
At 31 March 2023
349,970
----------
Carrying amount
At 31 March 2023
349,970
----------
At 31 March 2022
----------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2022
744,693
Movements in the year
392,288
Distributions
( 92,558)
-------------
At 31 March 2023
1,044,423
-------------
Impairment
At 1 April 2022 and 31 March 2023
-------------
Carrying amount
At 31 March 2023
1,044,423
-------------
At 31 March 2022
744,693
-------------
7. Debtors
2023
2022
£
£
Trade debtors
2,211
930
-------
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
20,198
45,172
Other creditors
966,517
855,467
----------
----------
986,715
900,639
----------
----------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
239,763
----------
----