Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312true22023-02-01falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08356311 2023-02-01 2024-01-31 08356311 2022-02-01 2023-01-31 08356311 2024-01-31 08356311 2023-01-31 08356311 c:Director2 2023-02-01 2024-01-31 08356311 d:ComputerEquipment 2023-02-01 2024-01-31 08356311 d:ComputerEquipment 2024-01-31 08356311 d:ComputerEquipment 2023-01-31 08356311 d:CurrentFinancialInstruments 2024-01-31 08356311 d:CurrentFinancialInstruments 2023-01-31 08356311 d:Non-currentFinancialInstruments 2024-01-31 08356311 d:Non-currentFinancialInstruments 2023-01-31 08356311 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 08356311 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 08356311 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 08356311 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 08356311 d:ShareCapital 2024-01-31 08356311 d:ShareCapital 2023-01-31 08356311 d:RetainedEarningsAccumulatedLosses 2024-01-31 08356311 d:RetainedEarningsAccumulatedLosses 2023-01-31 08356311 c:FRS102 2023-02-01 2024-01-31 08356311 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08356311 c:FullAccounts 2023-02-01 2024-01-31 08356311 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08356311 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 08356311









PCM RESIDENTIAL LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
PCM RESIDENTIAL LTD
REGISTERED NUMBER: 08356311

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Current assets
  

Cash at bank and in hand
 5 
1
1

  
1
1

Creditors: amounts falling due within one year
 6 
(59,599)
(51,455)

Total assets less current liabilities
  
(59,598)
(51,454)

Creditors: amounts falling due after more than one year
 7 
(12,407)
(15,031)

  

Net liabilities
  
(72,005)
(66,485)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(72,105)
(66,585)

  
(72,005)
(66,485)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.


The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 October 2024.




................................................
Paul Mace
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
PCM RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

PCM Residential Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 08356311. The address of the registered office is 8 Balfern Grove, London, England, W4 2JX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis as the director believes adequate resources exist to enable it to meet its working capital requirements for at least twelve months from approval of these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 2

 
PCM RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
PCM RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

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 an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
PCM RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 February 2023
1,938



At 31 January 2024

1,938



Depreciation


At 1 February 2023
1,938



At 31 January 2024

1,938



Net book value



At 31 January 2024
-



At 31 January 2023
-


5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1
1

Less: bank overdrafts
(4,623)
(3,600)

(4,622)
(3,599)



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
4,623
3,600

Other creditors
18,129
19,399

Accruals and deferred income
36,847
28,456

59,599
51,455


Page 5

 
PCM RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bounce back loan
12,407
15,031

12,407
15,031


The company borrowed £20,000 as part of the Government's Bounce Back Loan (BBL) scheme in May 2020. This loan is for a term of 6 years and interest is fixed at 2.5% per annum.


8.


Related party transactions

Included in other creditors at the balance sheet date is an amount owed to the directors of £17,529 (2023: £18,599). This loan is interest free and repayable on demand. 
During the year the directors charged the company £51,000 (2023: £51,000) in relation to rental services provided.

 
Page 6