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COMPANY REGISTRATION NUMBER: 12277461
Public Technologies Limited
Filleted Unaudited Financial Statements
31 March 2024
Public Technologies Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Public Technologies Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Current assets
Debtors
5
374,243
365,115
Investments
6
99
99
Cash at bank and in hand
393
393
---------
---------
374,735
365,607
Creditors: amounts falling due within one year
7
35,005
17,427
---------
---------
Net current assets
339,730
348,180
---------
---------
Total assets less current liabilities
339,730
348,180
Creditors: amounts falling due after more than one year
8
351,246
350,929
---------
---------
Net liabilities
( 11,516)
( 2,749)
---------
---------
Capital and reserves
Called up share capital
10
10
Profit and loss account
( 11,526)
( 2,759)
--------
-------
Shareholders deficit
( 11,516)
( 2,749)
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
Mr A A C De Carvalho
Director
Company registration number: 12277461
Public Technologies Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Public Hall, One Horse Guards Avenue, London, SW1A 2HU, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
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.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period was 2 (2023: 2).
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
339,500
339,500
Other debtors
34,743
25,615
---------
---------
374,243
365,115
---------
---------
6. Investments
2024
2023
£
£
Investments in group undertakings
99
99
----
----
The company purchased the shares in Eva Health Technologies Limited (Company number 02162053) on the 20th April 2020 for nominal value. This comprised of 99% of the shareholding and therefore Public Technologies is deemed to have control of this company.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
35,005
17,427
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
351,246
350,929
---------
---------
9. Related party transactions
At the balance sheet date, the company owed £386,152 to its parent company (2023: £368,257). Interest was charged at 2.5%. At the balance sheet date, the company was owed £374,244 by a company under its control (2023: £365,116). Interest was charged at 2.5%.
10. Controlling party
At the balance sheet date, the company was under the control of Public Group International Limited (Registration Number - 12277461 ), regsitered address Public Hall, One Horse Guards Avenue, London, United Kingdom, SW1A 2HU . This company was deemed to be the ultimate controllng party.