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Registration number: 11106016

PPOL Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

PPOL Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

PPOL Ltd

Company Information

Directors

Maria Dolores Pomes Jimenez

Sergio Gomez Orti

Registered office

Suite 1C Meadway Court
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF

Accountants

Re:Accounts Limited
Chartered Accountants
Suite 1C Meadway Court
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF

 

PPOL Ltd

(Registration number: 11106016)
Balance Sheet as at 31 December 2023

Note

31 December
2023
£

31 December
2022
£

Current assets

 

Debtors

4

3,498

3,498

Cash at bank and in hand

 

26,245

2,588

 

29,743

6,086

Creditors: Amounts falling due within one year

5

(50,773)

(27,316)

Net liabilities

 

(21,030)

(21,230)

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

(21,032)

(21,232)

Shareholders' deficit

 

(21,030)

(21,230)

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 October 2024 and signed on its behalf by:
 

 

PPOL Ltd

(Registration number: 11106016)
Balance Sheet as at 31 December 2023 (continued)

.........................................
Maria Dolores Pomes Jimenez
Director

.........................................
Sergio Gomez Orti
Director

 

PPOL Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Suite 1C Meadway Court
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF
England

These financial statements were authorised for issue by the Board on 14 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis despite the negative net assets. This is because the directors' loans make up the majority of the creditors. The directors confirm that they will not withdraw these loans until the company has the cash reserves to continue trading without them.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of research, information and consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

PPOL Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Debtors

Current

31 December
2023
£

31 December
2022
£

Other debtors

3,498

3,498

 

3,498

3,498

 

PPOL Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Creditors

Creditors: amounts falling due within one year

31 December
2023
£

31 December
2022
£

Due within one year

Taxation and social security

53

53

Other creditors

50,720

27,263

50,773

27,316

6

Share capital

Allotted, called up and fully paid shares

31 December
2023

31 December
2022

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

7

Related party transactions

Included within creditors at the year end is £50,028 (2022; £26,572) owed to the company's directors. The loan is interest free with no fixed date for repayment.The directors confirm that they will not remove the loans until the company has sufficient cash reserves to continue in business without it.

 

PPOL Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

7

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

82,000

21,500