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REGISTERED NUMBER: 01400771 (England and Wales)















PAGE HOLDINGS LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2023






PAGE HOLDINGS LIMITED (REGISTERED NUMBER: 01400771)






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


PAGE HOLDINGS LIMITED

Company Information
for the year ended 31 December 2023







DIRECTOR: M Page





SECRETARY: Mrs L A Page





REGISTERED OFFICE: Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ





REGISTERED NUMBER: 01400771 (England and Wales)





ACCOUNTANTS: Tudor John Limited
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

PAGE HOLDINGS LIMITED (REGISTERED NUMBER: 01400771)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 104 104
Investment property 5 4,060,357 4,480,000
4,060,461 4,480,104

CURRENT ASSETS
Stocks 48,301 48,301
Debtors 6 2,228,649 2,463,479
Cash at bank 401,434 529,281
2,678,384 3,041,061
CREDITORS
Amounts falling due within one year 7 1,019,995 993,692
NET CURRENT ASSETS 1,658,389 2,047,369
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,718,850

6,527,473

CREDITORS
Amounts falling due after more than one year 8 (3,674,962 ) (2,025,089 )

PROVISIONS FOR LIABILITIES 9 - (123,241 )
NET ASSETS 2,043,888 4,379,143

CAPITAL AND RESERVES
Called up share capital 456,490 456,490
Share premium 103,232 103,232
Capital redemption reserve 699,894 699,894
Retained earnings 784,272 3,119,527
SHAREHOLDERS' FUNDS 2,043,888 4,379,143

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 director acknowledges his 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.

PAGE HOLDINGS LIMITED (REGISTERED NUMBER: 01400771)

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 director and authorised for issue on 16 September 2024 and were signed by:





M Page - Director


PAGE HOLDINGS LIMITED (REGISTERED NUMBER: 01400771)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Page Holdings 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. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. 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 in accordance with UK GAAP requires management to make judgements, estimates and assumption that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumption are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about carrying values of assets and liabilities that are not readily apparent from other sources. 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 revision and future periods if the revision affects both current and future periods.

TURNOVER
Turnover represents management charges receivable, excluding value added tax.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost less 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.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


PAGE HOLDINGS LIMITED (REGISTERED NUMBER: 01400771)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

OPERATING LEASED ASSETS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PAGE HOLDINGS LIMITED (REGISTERED NUMBER: 01400771)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial Liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest.

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

Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts are not basic financial instruments.

PAGE HOLDINGS LIMITED (REGISTERED NUMBER: 01400771)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

CURRENT ASSET INVESTMENTS
Current asset investments are included in the financial statements at fair value. Surpluses and deficits on revaluation are recognised in the profit and loss account.

EMPLOYEE BENEFITS
The company provides a range of benefits to employees, including paid holiday arrangements, bonus schemes and defined contribution pension plans.

(i) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

(ii) Bonus schemes
The company operates a bonus scheme for specified employees. An expense is recognised in the profit and loss account when the company has a legal or constructive obligation to make payments under the plan as a result of past events and a reliable estimate of the obligation can be made.

(iiI) Defined contribution pension plans
The company makes pension payments into personal pension plans for specified employees. Once contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan(s) are held separately from the company in the individuals own personal pension plans.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 104
NET BOOK VALUE
At 31 December 2023 104
At 31 December 2022 104

PAGE HOLDINGS LIMITED (REGISTERED NUMBER: 01400771)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 January 2023 4,480,000
Additions 35,736
Revaluations (455,379 )
At 31 December 2023 4,060,357
NET BOOK VALUE
At 31 December 2023 4,060,357
At 31 December 2022 4,480,000

Cost or valuation at 31 December 2023 is represented by:
£   
Valuation in 2008 555,700
Valuation in 2016 168,187
Valuation in 2018 2,198,080
Valuation in 2020 197,740
Valuation in 2022 (633,243 )
Valuation in 2023 (455,379 )
Cost 2,029,272
4,060,357

The Investment properties were valued on an open market basis on 31st December 2023 by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,069 20,745
Amounts owed by group undertakings 2,109,250 2,011,303
Other debtors 98,330 431,431
2,228,649 2,463,479

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 49,773 61,454
Trade creditors 22,008 27,858
Amounts owed to group undertakings 130,476 277,321
Taxation and social security 144,278 48,329
Other creditors 673,460 578,730
1,019,995 993,692

PAGE HOLDINGS LIMITED (REGISTERED NUMBER: 01400771)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 358,459 404,586
Other creditors 3,316,503 1,620,503
3,674,962 2,025,089

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 81,387 139,569

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 123,241

Deferred
tax
£   
Balance at 1 January 2023 123,241
Credit to Income Statement during year (123,241 )
Balance at 31 December 2023 -

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Page Holdings Limited and the ultimate controlling party is Mr M L Page.