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REGISTERED NUMBER: 01875166 (England and Wales)
















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR


PIP MANAGEMENT LIMITED



PIP MANAGEMENT LIMITED (REGISTERED NUMBER: 01875166)








CONTENTS OF THE FINANCIAL STATEMENTS

For The Year Ended 31 December 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

3





PIP MANAGEMENT LIMITED



COMPANY INFORMATION

For The Year Ended 31 December 2023









DIRECTORS:

D Everett


Mrs D L Passey







REGISTERED OFFICE:

17 - 18 Juliette Way


Purfleet Industrial Park


Aveley


South Ockendon


Essex


RM15 4YA







REGISTERED NUMBER:

01875166 (England and Wales)







ACCOUNTANTS:

Wilshers


900, Cornwallis House


Howard Chase


Basildon


Essex


SS14 3BB



PIP MANAGEMENT LIMITED (REGISTERED NUMBER: 01875166)



BALANCE SHEET

31 December 2023



31.12.23

31.12.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

27,697


34,622




CURRENT ASSETS

Debtors

5

289,955


249,803



Cash at bank

24,241


61,777



314,196


311,580



CREDITORS

Amounts falling due within one year

6

341,382


345,691



NET CURRENT LIABILITIES

(27,186

)

(34,111

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

511


511




CAPITAL AND RESERVES

Called up share capital

7

511


511



SHAREHOLDERS' FUNDS

511


511




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 surplus or deficit 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.


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 17 September 2024 and were signed on its behalf by:






D Everett - Director




PIP MANAGEMENT LIMITED (REGISTERED NUMBER: 01875166)



NOTES TO THE FINANCIAL STATEMENTS

For The Year Ended 31 December 2023


1.

STATUTORY INFORMATION



PIP 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.

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.    



These financial statements have been prepared on a going concern basis. The company does  not make a surplus or deficit as all expenses are rechargeable to the shareholders.The shareholders are legally obliged to support the company so that debts will be paid as they fall due.



Income

The company had no turnover during the year. A management charge was levied to the shareholders in respect of expenses incurred by the company


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Plant

-

20% on reducing balance


Office & computer equipment

-

20% on reducing balance



Taxation

The company is an estates management company and is treated as dormant for taxation purposes.


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 income or expenditure in the period to which they relate.


3.

EMPLOYEES AND DIRECTORS



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


4.

TANGIBLE FIXED ASSETS


Office &



computer



Plant


equipment


Totals

£   

£   

£   



COST


At 1 January 2023


and 31 December 2023

66,458


3,377


69,835




DEPRECIATION


At 1 January 2023

33,903


1,310


35,213




Charge for year

6,511


414


6,925




At 31 December 2023

40,414


1,724


42,138




NET BOOK VALUE


At 31 December 2023

26,044


1,653


27,697




At 31 December 2022

32,555


2,067


34,622





PIP MANAGEMENT LIMITED (REGISTERED NUMBER: 01875166)



NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 December 2023


5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Unpaid management charges

279,441


246,650




Called up share capital not paid

511


511




Prepayments

10,003


2,642



289,955


249,803





The unpaid management charges of £279,441 includes an amount due from a leaseholder of £250,927 that is in dispute.The matter has been placed in the hands of the company solicitors The directors consider that the debt is collectable.


6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Management charges received in advance

11,691


-




Other creditors

273,916


290,181




Social security and other taxes

2,115


2,155




VAT

34,487


33,578




Accruals

19,173


19,777



341,382


345,691





Other creditors represents amounts invoiced in advance to shareholders



                                                                                                                                                   £                         £



Fund as at 1 January 2023                                                                                                  290,181              262,205


Invoiced during year                                                                                                          239,046              239,046


Management charges during year                                                                                     (255,311)           (211,070)



Fund as at 31 December 2023                                                                                           273,916              290,181


7.

CALLED UP SHARE CAPITAL



Allotted and issued:


Number:

Class:

Nominal

31.12.23


31.12.22


value:

£   

£   



511

Share capital

1

511


511




8.

DIRECTORS' ADVANCES, CREDITS AND GUARANTEES


The directors of the company are also shareholders and in the normal course of business the company charges the directors a management charge in relation to their property. At the balance sheet date no amounts were owed by the directors to the company.