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Registered number: 11506925
PPC Geeks Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11506925
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,540 9,233
10,540 9,233
CURRENT ASSETS
Debtors 5 216,816 357,499
Cash at bank and in hand 256,744 420,521
473,560 778,020
Creditors: Amounts Falling Due Within One Year 6 (106,310 ) (178,035 )
NET CURRENT ASSETS (LIABILITIES) 367,250 599,985
TOTAL ASSETS LESS CURRENT LIABILITIES 377,790 609,218
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,635 ) (1,938 )
NET ASSETS 375,155 607,280
CAPITAL AND RESERVES
Called up share capital 4 4
Profit and Loss Account 375,151 607,276
SHAREHOLDERS' FUNDS 375,155 607,280
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C J Stott
Director
Mrs S E Stott
Director
Mr D R Trotter
Director
Miss A Martins
Director
17 July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
PPC Geeks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11506925 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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.
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'.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
2.3. Tangible Fixed Assets and Depreciation
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.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer equipment 25% reducing balance
2.4. 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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 14)
17 14
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4. Tangible Assets
Computer equipment
£
Cost
As at 1 April 2023 15,697
Additions 3,332
Disposals (1,125 )
As at 31 March 2024 17,904
Depreciation
As at 1 April 2023 6,464
Provided during the period 1,550
Disposals (650 )
As at 31 March 2024 7,364
Net Book Value
As at 31 March 2024 10,540
As at 1 April 2023 9,233
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 94,431 111,448
Other debtors 122,385 246,051
216,816 357,499
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,897 1,066
Bank loans and overdrafts 1,083 -
Other creditors 11,309 21,774
Taxation and social security 79,021 155,195
106,310 178,035
7. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 15,420 17,874
Later than one year and not later than five years 3,302 19,345
18,722 37,219
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8. Directors Advances, Credits and Guarantees
The directors’ had a brought forward advance from the company of £243,431. During the year the directors' received further interest free advances of £164,680 and repaid £286,276. At the balance sheet date the directors owed the company £121,834.
The above loan is unsecured, interest free and repayable on demand.
9. Related Party Transactions
The following related party transactions were undertaken during the year:
A director withdrew amounts totalling £41,173 (2023: £61,170), repaid £312 (2023: £312) and was issued dividends of £71,257 (2023: £41,115). At the balance sheet date the amount owed from the director was £30,459 (2023: £60,854).
A director withdrew amounts totalling £41,170 (2023: £61,170), repaid £312 (2023: £312) and was issued dividends of £71,257 (2023: £41,115). At the balance sheet date the amount owed from the director was £30,459 (2023: £60,858).
A director withdrew amounts totalling £41,170 (2023: £61,170), repaid £312 (2023: £312) and was issued dividends of £71,257 (2023: £41,115). At the balance sheet date the amount owed from the director was £30,459 (2023: £60,858).
A director withdrew amounts totalling £41,167 (2023: £61,170), repaid £312 (2023: £312) and was issued dividends of £71,257 (2023: £41,115). At the balance sheet date the amount owed from the director was £30,459 (2023: £60,861).
The aggregate remuneration paid to key personnel for the year was £47,196 (2023: £47,194).
Dividends were voted in the year totalling £285,028 (2023: £164,460).
No further transactions with related parties were undertaken, other than those under normal market conditions, such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and republic of Ireland'.
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