Silverfin false false 31/03/2024 01/04/2023 31/03/2024 B W Dalgleish 14/06/2016 R J W Manley 14/06/2016 21 August 2024 The principal activity of the Company during the financial year was Management Consultancy. 10230920 2024-03-31 10230920 bus:Director1 2024-03-31 10230920 bus:Director2 2024-03-31 10230920 2023-03-31 10230920 core:CurrentFinancialInstruments 2024-03-31 10230920 core:CurrentFinancialInstruments 2023-03-31 10230920 core:ShareCapital 2024-03-31 10230920 core:ShareCapital 2023-03-31 10230920 core:RetainedEarningsAccumulatedLosses 2024-03-31 10230920 core:RetainedEarningsAccumulatedLosses 2023-03-31 10230920 core:OtherPropertyPlantEquipment 2023-03-31 10230920 core:OtherPropertyPlantEquipment 2024-03-31 10230920 2022-03-31 10230920 2023-04-01 2024-03-31 10230920 bus:FilletedAccounts 2023-04-01 2024-03-31 10230920 bus:SmallEntities 2023-04-01 2024-03-31 10230920 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10230920 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10230920 bus:Director1 2023-04-01 2024-03-31 10230920 bus:Director2 2023-04-01 2024-03-31 10230920 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 10230920 2022-04-01 2023-03-31 10230920 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 10230920 (England and Wales)

P2G MANAGEMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

P2G MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

P2G MANAGEMENT LIMITED

BALANCE SHEET

As at 31 March 2024
P2G MANAGEMENT LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 88 205
88 205
Current assets
Debtors 5 656,881 760,564
Cash at bank and in hand 2,296,575 1,698,920
2,953,456 2,459,484
Creditors: amounts falling due within one year 6 ( 204,459) ( 259,936)
Net current assets 2,748,997 2,199,548
Total assets less current liabilities 2,749,085 2,199,753
Provision for liabilities 7 0 ( 15,899)
Net assets 2,749,085 2,183,854
Capital and reserves
Called-up share capital 100 100
Profit and loss account 2,748,985 2,183,754
Total shareholders' funds 2,749,085 2,183,854

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of P2G Management Limited (registered number: 10230920) were approved and authorised for issue by the Board of Directors on 21 August 2024. They were signed on its behalf by:

R J W Manley
Director
P2G MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
P2G MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

P2G Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Post Box House, Coldharbour, Dorking, RH5 6HD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
The current 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. 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 transaction.

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 and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 111,678 111,678
At 31 March 2024 111,678 111,678
Accumulated depreciation
At 01 April 2023 111,473 111,473
Charge for the financial year 117 117
At 31 March 2024 111,590 111,590
Net book value
At 31 March 2024 88 88
At 31 March 2023 205 205

5. Debtors

2024 2023
£ £
Trade debtors 0 130,525
Amounts owed by Group undertakings 435,952 367,251
Other debtors 220,929 262,788
656,881 760,564

6. Creditors: amounts falling due within one year

2024 2023
£ £
Corporation tax 190,695 139,471
Other taxation and social security 11,313 58,510
Other creditors 2,451 61,955
204,459 259,936

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 15,899) ( 15,848)
Credited/(charged) to the Profit and Loss Account 15,899 ( 51)
At the end of financial year 0 ( 15,899)

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Directors Loan Account (168,938) (165,188)

During the year, the company advanced £3,750 (2023: £165,188) to a director of the company. Furthermore repayments of £Nil (2023: £300,000) were made by the director to the company.

The loan to the director is unsecured and repayable on demand. The loan is subject to interest at 2.5%.