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Registration number: 03376184

Popham (Holdings) Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 May 2022 to 29 April 2023

 

Popham (Holdings) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Popham (Holdings) Limited

Company Information

Directors

Mr M L Popham

Mr C H Popham

Mr P H Popham

Mr M A Popham

Mrs M Popham

Registered office

Abergarw Service Station
New Road
Brynmenyn
Bridgend
Mid Glamorgan
CF32 9LL

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Popham (Holdings) Limited
for the Period Ended 29 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Popham (Holdings) Limited for the period ended 29 April 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Popham (Holdings) Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Popham (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of Popham (Holdings) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Popham (Holdings) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Popham (Holdings) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Popham (Holdings) Limited. You consider that Popham (Holdings) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Popham (Holdings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

26 July 2024

 

Popham (Holdings) Limited

(Registration number: 03376184)
Balance Sheet as at 29 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

114,825

Investment property

5

390,000

-

Investments

6

100

100

 

390,100

114,925

Current assets

 

Debtors

7

55,878

2,254

Cash at bank and in hand

 

1,143

538

 

57,021

2,792

Creditors: Amounts falling due within one year

8

(74,252)

(31,960)

Net current liabilities

 

(17,231)

(29,168)

Total assets less current liabilities

 

372,869

85,757

Provisions for liabilities

(68,794)

-

Net assets

 

304,075

85,757

Capital and reserves

 

Called up share capital

200

200

Other reserves

206,381

-

Retained earnings

97,494

85,557

Shareholders' funds

 

304,075

85,757

For the financial period ending 29 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 July 2024 and signed on its behalf by:
 

.........................................
Mr M L Popham
Director

 

Popham (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Abergarw Service Station
New Road
Brynmenyn
Bridgend
Mid Glamorgan
CF32 9LL

These financial statements were authorised for issue by the Board on 26 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Popham (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Popham (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period was 5 (2022 - 3).

 

Popham (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 May 2022

182,301

182,301

Transfers to/from investment property

(182,301)

(182,301)

At 29 April 2023

-

-

Depreciation

At 1 May 2022

67,476

67,476

Transfers to/from investment property

(67,476)

(67,476)

At 29 April 2023

-

-

Carrying amount

At 29 April 2023

-

-

At 30 April 2022

114,825

114,825

Included within the net book value of land and buildings above is £Nil (2022 - £114,825) in respect of freehold land and buildings.
 

5

Investment properties

2023
£

Transfers to and from Tangible assets

114,825

Fair value adjustments

275,175

At 29 April

390,000

 

Popham (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 May 2022

100

Provision

Carrying amount

At 29 April 2023

100

At 30 April 2022

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Colebrid Plant Limited

Abergarw Service Station
New Road
Brynmenyn
Bridgend
Mid Glamorgan
CF32 9LL

United Kingdom

Ordinary

100%

100%

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

12,634

2,254

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

43,244

-

 

55,878

2,254

 

Popham (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 29 April 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

10,534

(111)

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

-

10,970

Taxation and social security

 

2,844

3,247

Accruals and deferred income

 

12,059

11,698

Other creditors

 

48,815

6,156

 

74,252

31,960

9

Related party transactions

Summary of transactions with all subsidiaries

Colebrid Plant Limited
 
Popham (Holdings) Limited advanced loan facilities of £43,244 to Colebrid Plant Limited (2022 - £10,970 received loan facilities from Colebrid Plant Limited). The loan is unsecured and there are no fixed terms for repayment.

Popham (Holdings) Limited received a dividend of £68,000 during the year from Colebrid Plant Limited.