PP COMMS LTD | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED | |||||||||||
30 JUNE 2024 | |||||||||||
Company Registration Number: 05850082 | |||||||||||
PP COMMS LTD | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2024 | |||||||||||
CONTENTS | PAGES | ||||||||||
Company information | 1 | ||||||||||
Balance sheet | 2 to 3 | ||||||||||
Notes to the financial statements | 4 to 10 | ||||||||||
PP COMMS LTD | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2024 | |||||||||||
DIRECTORS | |||||||||||
appointed |
|||||||||||
resigned |
|||||||||||
SECRETARY | |||||||||||
REGISTERED OFFICE | |||||||||||
COMPANY REGISTRATION NUMBER | |||||||||||
05850082 England and Wales | |||||||||||
PP COMMS LTD | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 30 JUNE 2024 | |||||||||||
Notes | 2024 | 2023 | |||||||||
£ | £ | ||||||||||
FIXED ASSETS | |||||||||||
Tangible assets | 5 | ||||||||||
CURRENT ASSETS | |||||||||||
Debtors | 6 | ||||||||||
Cash at bank and in hand | |||||||||||
CREDITORS: Amounts falling due within one year | 7 | ||||||||||
NET CURRENT ASSETS | |||||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | |||||||||||
CREDITORS: Amounts falling due after more than one year | 8 | - | |||||||||
Provisions for liabilities and charges | - | ||||||||||
NET ASSETS | |||||||||||
CAPITAL AND RESERVES | |||||||||||
Called up share capital | |||||||||||
Share premium account | |||||||||||
Distributable profit and loss account | |||||||||||
Capital redemption reserve | |||||||||||
SHAREHOLDERS' FUNDS | |||||||||||
PP COMMS LTD | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 30 JUNE 2024 | |||||||||||
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. | |||||||||||
Signed on behalf of the board of directors | |||||||||||
N J Davies | |||||||||||
Director | |||||||||||
Date approved by the board: |
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PP COMMS LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2024 | |||||||||||
1 | GENERAL INFORMATION | ||||||||||
PP Comms Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is: | |||||||||||
Whitefriars Business Centre 2nd Floor | |||||||||||
Whitefriars | |||||||||||
Lewins Mead | |||||||||||
Bristol | |||||||||||
BS1 2NT | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Basis of preparation of financial statements | |||||||||||
Revenue recognition | |||||||||||
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of public relations and communications activity services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax. | |||||||||||
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. |
Tangible fixed assets | |||||||||||
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. | |||||||||||
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. | |||||||||||
Office equipment | |||||||||||
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. | |||||||||||
PP COMMS LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2024 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Financial Instruments | |||||||||||
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. | |||||||||||
Impairment of non-financial assets | |||||||||||
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account. |
Debtors | |
Short term debtors are measured at transaction price, less any impairment. | |||||||||||
Creditors | |||||||||||
PP COMMS LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2024 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Leases | |||||||||||
Assets held under finance leases are recognised in accordance with the company's policy for tangible fixed assets. The corresponding obligations to lessors under finance leases are treated in the balance sheet as a liability. The assets and liabilities under finance leases are recognised at amounts equal to the fair value of the assets, or if lower, the present value of minimum lease payments, determined at the inception of the lease. | |||||||||||
Minimum lease payments are apportioned between finance charges and the reduction in the outstanding liabilities using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in the profit and loss account. |
Taxation | |||||||||||
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits. | |||||||||||
Deferred tax is measured using 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. | |||||||||||
PP COMMS LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2024 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Borrowing costs | |||||||||||
Pensions | |||||||||||
3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements. | |||||||||||
4 | EMPLOYEES | ||||||||||
The average number of persons employed by the company (including directors) during the year was: | |||||||||||
2024 | 2023 | ||||||||||
Average number of employees | |||||||||||
PP COMMS LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2024 | |||||||||||
5 | TANGIBLE ASSETS | ||||||||||
Office equipment | |||||||||||
£ | |||||||||||
Cost | |||||||||||
At 1 July 2023 | |||||||||||
Additions | |||||||||||
Disposals | ( |
||||||||||
At 30 June 2024 | |||||||||||
Accumulated depreciation and impairments | |||||||||||
At 1 July 2023 | |||||||||||
Charge for year | |||||||||||
Disposals | ( |
||||||||||
At 30 June 2024 | |||||||||||
Net book value | |||||||||||
At 1 July 2023 | |||||||||||
At 30 June 2024 | |||||||||||
6 | DEBTORS | ||||||||||
2024 | 2023 | ||||||||||
£ | £ | ||||||||||
Trade debtors | |||||||||||
Prepayments and accrued income | |||||||||||
Other debtors | |||||||||||
1,222,931 | 792,009 | ||||||||||
PP COMMS LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2024 | |||||||||||
7 | CREDITORS: Amounts falling due within one year | ||||||||||
2024 | 2023 | ||||||||||
£ | £ | ||||||||||
Bank loans and overdrafts | |||||||||||
Trade creditors | |||||||||||
Taxation and social security | |||||||||||
Accruals and deferred income | |||||||||||
Other creditors | |||||||||||
512,360 | 449,230 | ||||||||||
8 | CREDITORS: Amounts falling due after more than one year | ||||||||||
2024 | 2023 | ||||||||||
£ | £ | ||||||||||
Bank loans and overdrafts | - | ||||||||||
9 | SECURED DEBTS | ||||||||||
The hire purchase contracts and finance leases are secured on the assets concerned. | |||||||||||
10 | CONTINGENCIES AND COMMITMENTS | ||||||||||
Other Commitments | |||||||||||
Amounts falling due under operating leases: | 2024 | 2023 | |||||||||
£ | £ | ||||||||||
In less than one year | |||||||||||
In more than one but less than five years | |||||||||||
125,218 | 41,429 | ||||||||||
PP COMMS LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2024 | |||||||||||
11 | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES | ||||||||||
The following directors' advances, credits and guarantees took place during the year: | |||||||||||
Balance at 1 July 2023 | Amounts advanced | Amounts repaid | Amounts written off or waived | Balance at 30 June 2024 | |||||||
£ | £ | £ | £ | £ | |||||||
G F Beard | - | - | - | ||||||||
J Fayers | - | - | - | ||||||||
H Goral | - | - | - | ||||||||
M I Jenkins | - | - | - | ||||||||
I L Thorn (resigned 17 June 2024) | - | - | - | ||||||||
45,051 | 104,366 | 45,051 | - | 104,366 | |||||||
Interest has been charged on these advances at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. These advances are repayable on demand. | |||||||||||
12 | RELATED PARTY TRANSACTIONS | ||||||||||
During the year, the following transactions with related parties took place: | |||||||||||
2024 | 2023 | ||||||||||
£ | £ | ||||||||||
- | Director and shareholder | ||||||||||
Advances to company | |||||||||||
- | Director and shareholder | ||||||||||
Advances to company | - | ||||||||||
- | Director and shareholder | ||||||||||
Advances to company | - | ||||||||||
- | Director and shareholder | ||||||||||
Advances to company | - | ||||||||||
- | Director and shareholder | ||||||||||
Advances to company | - | ||||||||||
The above directors have made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the directors the above amounts. |