Company registration number 11440197 (England and Wales)
4P Holdings Limited
Unaudited financial statements
For the year ended 31 July 2024
4P Holdings Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
4P Holdings Limited
Statement of financial position
As at 31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
2
135,155
138,091
Investments
3
268,817
268,817
403,972
406,908
Current assets
Trade and other receivables
4
150
150
Cash and cash equivalents
46,523
11,789
46,673
11,939
Current liabilities
5
(272,159)
(325,904)
Net current liabilities
(225,486)
(313,965)
Net assets
178,486
92,943
Equity
Called up share capital
100
100
Retained earnings
178,386
92,843
Total equity
178,486
92,943
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 22 October 2024
Mr P A Chapman
Director
Company registration number 11440197 (England and Wales)
4P Holdings Limited
Notes to the financial statements
For the year ended 31 July 2024
- 2 -
1
Accounting policies
Company information
4P Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Waterside, Marple, Stockport, SK6 7LY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. Within current liabilities is an amount of £324,699 owed to the director. The director will not seek to withdraw monies until such time as funds become available.
1.3
Property, plant and equipment
Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Non-current investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
4P Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 July 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
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 cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.8
The company has taken advantage of exemption, under the terms of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose
related party transactions with entities within the group where the relationship is one of being
wholly owned.
4P Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 July 2024
- 4 -
2
Property, plant and equipment
Freehold land and buildings
£
Cost
At 1 August 2023 and 31 July 2024
146,785
Depreciation and impairment
At 1 August 2023
8,694
Depreciation charged in the year
2,936
At 31 July 2024
11,630
Carrying amount
At 31 July 2024
135,155
At 31 July 2023
138,091
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
268,817
268,817
4
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
150
150
5
Current liabilities
2024
2023
£
£
Corporation tax
1,176
Other taxation and social security
495
495
Other payables
270,488
325,409
272,159
325,904