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REGISTERED NUMBER: 12261877 (England and Wales)














Unaudited Financial Statements

for the Period 1 November 2022 to 31 March 2024

for

PFQ Solutions Ltd

PFQ Solutions Ltd (Registered number: 12261877)

Contents of the Financial Statements
for the Period 1 November 2022 to 31 March 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 7


PFQ Solutions Ltd

Company Information
for the Period 1 November 2022 to 31 March 2024







Director: R Kuttel





Registered office: 27 Market Place
Market Deeping
Peterborough
Cambridgeshire
England
PE6 8EA





Registered number: 12261877 (England and Wales)





Accountants: Moore Thompson
27 Market Place
Market Deeping
Peterborough
Cambridgeshire
PE6 8EA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
PFQ Solutions Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PFQ Solutions Ltd for the period ended 31 March 2024 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of PFQ Solutions Ltd in accordance with the terms of our engagement letter dated 26 November 2020. Our work has been undertaken solely to prepare for your approval the financial statements of PFQ Solutions Ltd and state those matters that we have agreed to state to the director of PFQ Solutions Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PFQ Solutions Ltd and its director for our work or for this report.

It is your duty to ensure that PFQ Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PFQ Solutions Ltd. You consider that PFQ Solutions Ltd 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 financial statements of PFQ Solutions Ltd. 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 financial statements.






Moore Thompson
27 Market Place
Market Deeping
Peterborough
Cambridgeshire
PE6 8EA


3 September 2024

PFQ Solutions Ltd (Registered number: 12261877)

Statement of Financial Position
31 March 2024

2024 2022
Notes £    £    £    £   
Fixed assets
Investment property 5 1,554,500 1,554,500

Current assets
Debtors 6 572,059 574,075
Prepayments and accrued income 44,413 49,660
Cash at bank 11,378 24,108
627,850 647,843
Creditors
Amounts falling due within one year 7 15,526 1,081,475
Net current assets/(liabilities) 612,324 (433,632 )
Total assets less current liabilities 2,166,824 1,120,868

Creditors
Amounts falling due after more than one
year

8

(1,815,996

)

(795,167

)

Accruals and deferred income (5,310 ) (3,444 )
Net assets 345,518 322,257

Capital and reserves
Called up share capital 72 72
Share premium 390,354 390,354
Revaluation reserve 10 (263,250 ) (263,250 )
Capital redemption reserve 15 15
Retained earnings 218,327 195,066
345,518 322,257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PFQ Solutions Ltd (Registered number: 12261877)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





R Kuttel - Director


PFQ Solutions Ltd (Registered number: 12261877)

Notes to the Financial Statements
for the Period 1 November 2022 to 31 March 2024


1. Statutory information

PFQ Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Due to a change in the company's year end, the comparative figures cover a period of 12 months, whereas the current financial statements cover a period of 17 months. Therefore the comparative figures may not be entirely comparable.

2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value with sufficient regularity and any changes in fair value are recognised in the profit and loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Deferred tax timing differences shall be recognised on any fair value gain or loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


PFQ Solutions Ltd (Registered number: 12261877)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 March 2024


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

4. Employees and directors

The average number of employees during the period was NIL (2022 - NIL).

5. Investment property
Total
£   
Fair value
At 1 November 2022
and 31 March 2024 1,554,500
Net book value
At 31 March 2024 1,554,500
At 31 October 2022 1,554,500

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 (325,000 )
Cost 1,879,500
1,554,500

6. Debtors: amounts falling due within one year
2024 2022
£    £   
Trade debtors 197 -
Amounts owed by associates 506,627 506,627
Other debtors 65,235 67,448
572,059 574,075

7. Creditors: amounts falling due within one year
2024 2022
£    £   
Bank loans and overdrafts 9,706 11,160
Taxation and social security 5,820 10,674
Other creditors - 1,059,641
15,526 1,081,475

PFQ Solutions Ltd (Registered number: 12261877)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 March 2024


8. Creditors: amounts falling due after more than one year
2024 2022
£    £   
Bank loans 784,840 795,167
Other creditors 1,031,156 -
1,815,996 795,167

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 746,015 750,522

9. Secured debts

The following secured debts are included within creditors:

2024 2022
£    £   
Bank loans 794,546 806,327

Bank loans totalling £794,546 (2022: £806,327) are secured by a fixed charge over the following investment properties:

1. 106-114 Church Street, Market Deeping, PE6 8AN
2. 2 & 3 The Green, Thurlby, Bourne, PE10 0EB

10. Reserves
Revaluation
reserve
£   
At 1 November 2022
and 31 March 2024 (263,250 )

11. Related party disclosures

At 31 March 2024 the company was owed £506,627 (2022: £506,627) by Ponga Fern Developments Ltd, which is a company under common control of the director.

This loan is interest free and repayable on demand.