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REGISTERED NUMBER: 03473159 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

P & P (CONTRACT MANAGEMENT) LIMITED

P & P (CONTRACT MANAGEMENT) LIMITED (REGISTERED NUMBER: 03473159)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P & P (CONTRACT MANAGEMENT) LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: Susan Carol Pykerman
Frank George Pope





SECRETARY: Susan Carol Pykerman





REGISTERED OFFICE: 9 Norton Green
Stevenage
Hertfordshire
SG1 2DP





REGISTERED NUMBER: 03473159 (England and Wales)





ACCOUNTANTS: Mackenzie Dodd Consulting Limited
Accountants and Business Advisers
St Mary's Court, The Broadway
Old Amersham
Buckinghamshire

P & P (CONTRACT MANAGEMENT) LIMITED (REGISTERED NUMBER: 03473159)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 348 146
Investment property 6 1,281,417 1,281,417
1,281,765 1,281,563

CURRENT ASSETS
Debtors 7 5,098 4,792
Cash at bank 18,572 6,632
23,670 11,424
CREDITORS
Amounts falling due within one year 8 (247,618 ) (242,933 )
NET CURRENT LIABILITIES (223,948 ) (231,509 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,057,817

1,050,054

CREDITORS
Amounts falling due after more than one
year

9

(40,000

)

(60,000

)

PROVISIONS FOR LIABILITIES (125,603 ) (125,553 )
NET ASSETS 892,214 864,501

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 892,212 864,499
SHAREHOLDERS' FUNDS 892,214 864,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

P & P (CONTRACT MANAGEMENT) LIMITED (REGISTERED NUMBER: 03473159)

BALANCE SHEET - continued
31 December 2023


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 Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:




Susan Carol Pykerman - Director



Frank George Pope - Director


P & P (CONTRACT MANAGEMENT) LIMITED (REGISTERED NUMBER: 03473159)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

P & P (Contract Management) Limited 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.

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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The valuation of the investment properties is considered every year by the directors and a formal valuation carried out when requested.

P & P (CONTRACT MANAGEMENT) LIMITED (REGISTERED NUMBER: 03473159)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

P & P (CONTRACT MANAGEMENT) LIMITED (REGISTERED NUMBER: 03473159)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 450 684 1,134
Additions - 252 252
Disposals - (373 ) (373 )
At 31 December 2023 450 563 1,013
DEPRECIATION
At 1 January 2023 330 658 988
Charge for year 24 26 50
Eliminated on disposal - (373 ) (373 )
At 31 December 2023 354 311 665
NET BOOK VALUE
At 31 December 2023 96 252 348
At 31 December 2022 120 26 146

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,281,417
NET BOOK VALUE
At 31 December 2023 1,281,417
At 31 December 2022 1,281,417

P & P (CONTRACT MANAGEMENT) LIMITED (REGISTERED NUMBER: 03473159)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

6. INVESTMENT PROPERTY - continued

On 4 November 2005 the company purchased a commercial property as an investment for the sum of £235,447. The cost of refurbishing the property during 2006 to 2008 amounted to £94,652. The property is let out on a commercial basis. The Property was valued on an open market basis on 28 May 2021 by Mr Stuart King BSc MRICS of Davies King Chartered Surveyors at a market value of £395,000. During 2021 part of the property was disposed of at a market value of £120,000 as valued by Mr Stuart King BSc MRICS with the retained value of the building valued at £275,000. The retained building and its market value is the value used in the financial statements as at 31 December 2023.

On 6 March 2013 the company also purchased another commercial property as an investment for the sum of £182,590. Refurbishment costs during the year subsequent years amounted to £259,450. Further capital expenditure amounted to £1,417 in 2021. The property is let out on a commercial basis. The Property was valued on an open market basis on 28 May 2021 by Mr Stuart King BSc MRICS of Davies King Chartered Surveyors at a market value of £1,005,000. This together with the capital expenditure during the year is the value used in the financial statements as at 31 December 2023.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2019 733,836
Valuation in 2020 666,164
Valuation in 2021 (118,583 )
1,281,417

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,098 4,792

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 170 1,576
Taxation and social security 4,502 933
Other creditors 242,946 240,424
247,618 242,933

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 40,000 60,000

10. ULTIMATE CONTROLLING PARTY

The controlling party is held jointly by Susan Carol Pykerman and Frank George Pope.