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Registration number: 04709611

PB Projects Management Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

PB Projects Management Services Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

PB Projects Management Services Limited

Company Information

Director

Ms Laura Homes

Registered office

3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH

Accountants

MG Group (Professional Services) Limited
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
PB Projects Management Services Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PB Projects Management Services Limited for the year ended 31 December 2023 as set out on pages 3 to 8 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 PB Projects Management Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of PB Projects Management Services Limited and state those matters that we have agreed to state to the Board of Directors of PB Projects Management Services 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 PB Projects Management Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that PB Projects Management Services 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 PB Projects Management Services Limited. You consider that PB Projects Management Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of PB Projects Management Services 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.

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

MG Group (Professional Services) Limited
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

14 August 2024

 

PB Projects Management Services Limited

(Registration number: 04709611)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,447

5,048

Investments

5

10,000

10,000

 

14,447

15,048

Current assets

 

Debtors

6

88,013

181,923

Cash at bank and in hand

 

94,679

32,208

 

182,692

214,131

Creditors: Amounts falling due within one year

7

(30,276)

(66,744)

Net current assets

 

152,416

147,387

Net assets

 

166,863

162,435

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

166,862

162,434

Shareholders' funds

 

166,863

162,435

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 August 2024
 

.........................................
Ms Laura Homes
Director

 

PB Projects Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH
England

These financial statements were authorised for issue by the director on 14 August 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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

PB Projects Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office furniture & fittings

25% on reducing balance

Computer equipment

50% on reducing balance

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.

 

PB Projects Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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 the director) during the year, was 3 (2022 - 2).

4

Tangible assets

Office furniture and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 1 January 2023

12,893

20,585

33,478

Additions

-

2,411

2,411

Disposals

(10,073)

(18,372)

(28,445)

At 31 December 2023

2,820

4,624

7,444

Depreciation

At 1 January 2023

9,989

18,442

28,431

Charge for the year

1,351

1,660

3,011

Eliminated on disposal

(10,073)

(18,372)

(28,445)

At 31 December 2023

1,267

1,730

2,997

Carrying amount

At 31 December 2023

1,553

2,894

4,447

At 31 December 2022

2,905

2,143

5,048

 

PB Projects Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

10,000

10,000

Subsidiaries

£

Cost or valuation

At 1 January 2023

10,000

Provision

Carrying amount

At 31 December 2023

10,000

At 31 December 2022

10,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

87,959

181,891

Other debtors

54

32

 

88,013

181,923

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

8,128

26,677

Taxation and social security

18,335

34,705

Accruals and deferred income

2,750

2,765

Other creditors

1,063

2,597

30,276

66,744

 

PB Projects Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

9

Related party transactions

Director

At the balance sheet date, the amount due to the director was £447 (2022: £447).