61 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 10608507 2023-04-01 2024-03-31 10608507 2024-03-31 10608507 2023-03-31 10608507 2022-04-01 2023-03-31 10608507 2023-03-31 10608507 2022-03-31 10608507 core:FurnitureFittings 2023-04-01 2024-03-31 10608507 bus:Director1 2023-04-01 2024-03-31 10608507 core:FurnitureFittings 2023-03-31 10608507 core:FurnitureFittings 2024-03-31 10608507 core:WithinOneYear 2024-03-31 10608507 core:WithinOneYear 2023-03-31 10608507 core:ShareCapital 2024-03-31 10608507 core:ShareCapital 2023-03-31 10608507 core:SharePremium 2024-03-31 10608507 core:SharePremium 2023-03-31 10608507 core:RetainedEarningsAccumulatedLosses 2024-03-31 10608507 core:RetainedEarningsAccumulatedLosses 2023-03-31 10608507 core:FurnitureFittings 2023-03-31 10608507 bus:SmallEntities 2023-04-01 2024-03-31 10608507 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10608507 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10608507 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10608507 bus:FullAccounts 2023-04-01 2024-03-31 10608507 core:ComputerEquipment 2023-04-01 2024-03-31 10608507 core:ComputerEquipment 2023-03-31 10608507 core:ComputerEquipment 2024-03-31 10608507 core:AllAssociates 2023-04-01 2024-03-31 10608507 core:KeyManagementPersonnel 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 10608507
Public Group International Limited
Filleted Unaudited Financial Statements
31 March 2024
Public Group International Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Public Group International Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
68,498
112,377
Current assets
Debtors
6
1,076,188
2,883,959
Investments
7
25,000
25,000
Cash at bank and in hand
1,728,685
1,166,827
------------
------------
2,829,873
4,075,786
Creditors: amounts falling due within one year
8
1,820,465
908,685
------------
------------
Net current assets
1,009,408
3,167,101
------------
------------
Total assets less current liabilities
1,077,906
3,279,478
------------
------------
Net assets
1,077,906
3,279,478
------------
------------
Capital and reserves
Called up share capital
37
35
Share premium account
6,547,663
6,547,663
Profit and loss account
( 5,469,794)
( 3,268,220)
------------
------------
Shareholders funds
1,077,906
3,279,478
------------
------------
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 comprehensive income 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.
Director's 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 director acknowledges his 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: 10608507
Public Group International 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, 1 Horse Guards Avenue, London, SW1A 2HU, England.
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.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. For the rendering of services, revenue is recognised when the services are transferred. When the outcome of a transaction can be estimated reliably, revenue is recognised based on the stage of completion of the transaction at the end of the reporting period. If the outcome of the transaction involving the rendering of services cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Computer equipment
-
25% straight line
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.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 61 (2023: 78 ).
5. Tangible assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 April 2023
11,993
198,195
210,188
Additions
807
3,302
4,109
--------
---------
---------
At 31 March 2024
12,800
201,497
214,297
--------
---------
---------
Depreciation
At 1 April 2023
4,772
93,039
97,811
Charge for the year
3,058
44,930
47,988
--------
---------
---------
At 31 March 2024
7,830
137,969
145,799
--------
---------
---------
Carrying amount
At 31 March 2024
4,970
63,528
68,498
--------
---------
---------
At 31 March 2023
7,221
105,156
112,377
--------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
666,754
1,346,825
Amounts owed by group undertakings and undertakings in which the company has a participating interest
754,300
1,315,186
Other debtors
( 344,866)
221,948
------------
------------
1,076,188
2,883,959
------------
------------
7. Investments
2024
2023
£
£
Other investments
25,000
25,000
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
59,732
295,456
Social security and other taxes
551,233
592,229
Other creditors
1,209,500
21,000
------------
---------
1,820,465
908,685
------------
---------
9. Related party transactions
At the year end the company was owed a total of £728,127 (2023: £1,315,186) from group companies. Interest was charged at 2.5%. Also at the year end the company owed the directors £1,208,000 (2023: £8,000). No interest was charged on these balances.