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Company registration number: NI608272
PGM PREMIER CONSULTANCY LIMITED
Unaudited filleted financial statements
31 January 2024
PGM PREMIER CONSULTANCY LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
PGM PREMIER CONSULTANCY LIMITED
Directors and other information
Directors Mr Paul Gavin Martin
Mr Gary Michael Martin
Secretary Caroline McLaughlin
Company number NI608272
Registered office 52 Talbot Park
Londonderry
BT48 7TA
Business address 52 Talbot Park
Londonderry
BT48 7TA
Accountants McDaid McCullough Moore
28/32 Clarendon Street
Derry
BT48 7HD
N.Ireland
Bankers HSBC
12-14 The Diamond
Londonderry
Northern Ireland
BT48 6HW
PGM PREMIER CONSULTANCY LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of PGM PREMIER CONSULTANCY LIMITED
Year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PGM PREMIER CONSULTANCY LIMITED for the year ended 31 January 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of PGM PREMIER CONSULTANCY LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of PGM PREMIER CONSULTANCY LIMITED and state those matters that we have agreed to state to the board of directors of PGM PREMIER CONSULTANCY LIMITED as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PGM PREMIER CONSULTANCY LIMITED and its board of directors as a body for our work or for this report.
It is your duty to ensure that PGM PREMIER CONSULTANCY LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PGM PREMIER CONSULTANCY LIMITED. You consider that PGM PREMIER CONSULTANCY LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of PGM PREMIER CONSULTANCY LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
McDaid McCullough Moore
Chartered Accountants
28/32 Clarendon Street
Derry
BT48 7HD
N.Ireland
30 October 2024
PGM PREMIER CONSULTANCY LIMITED
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 4 101 101
_______ _______
101 101
Current assets
Debtors:
Amounts falling due within one year 5 2,904,792 2,136,583
Cash at bank and in hand 147,067 150,257
_______ _______
3,051,859 2,286,840
Creditors: amounts falling due
within one year 6 ( 827,353) ( 93,907)
_______ _______
Net current assets 2,224,506 2,192,933
_______ _______
Total assets less current liabilities 2,224,607 2,193,034
_______ _______
Net assets 2,224,607 2,193,034
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,224,507 2,192,934
_______ _______
Shareholders funds 2,224,607 2,193,034
_______ _______
For the year ending 31 January 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 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.
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
Mr Paul Gavin Martin
Director
Company registration number: NI608272
PGM PREMIER CONSULTANCY LIMITED
Statement of changes in equity
Year ended 31 January 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 February 2022 100 2,194,014 2,194,114
Profit/(loss) for the year ( 1,080) ( 1,080)
_______ _______ _______
Total comprehensive income for the year - ( 1,080) ( 1,080)
_______ _______ _______
At 31 January 2023 and 1 February 2023 100 2,192,934 2,193,034
Profit/(loss) for the year 31,573 31,573
_______ _______ _______
Total comprehensive income for the year - 31,573 31,573
_______ _______ _______
At 31 January 2024 100 2,224,507 2,224,607
_______ _______ _______
PGM PREMIER CONSULTANCY LIMITED
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 52 Talbot Park, Londonderry, BT48 7TA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 February 2023 and 31 January 2024 101 101
_______ _______
Impairment
At 1 February 2023 and 31 January 2024 - -
_______ _______
Carrying amount
At 31 January 2024 101 101
_______ _______
At 31 January 2023 101 101
_______ _______
5. Debtors
Debtors falling due within one year are as follows:
2024 2023
£ £
Trade debtors 7,593 193
Other debtors 2,897,199 2,136,390
_______ _______
2,904,792 2,136,583
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 24,063 24,063
Corporation tax 9,645 -
Other creditors 793,645 69,844
_______ _______
827,353 93,907
_______ _______
7. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
Alex Properties Limited - - - ( 15,763)
Maddox Projects Ltd - - ( 4,837) ( 4,837)
Chester Project Services Ltd - - ( 10,000) ( 10,000)
Carlisle Ventures Ltd - - ( 31,000) ( 31,000)
Glenlark Limited - - ( 76,500) ( 4,643)
PPM Properties Limited - - 203,000 10,200
Curzon Projects Ltd - - 46,189 46,189
Lewispark Properties Ltd - - 885,000 730,000
Hollandale Projects Limited - - ( 611,101) 353,899
Rathkeel Limited - - 193,728 143,728
Foyle Projects Ltd - - 222,500 222,500
Plumville Limited - - 177,000 177,000
Talbot Ventures Limited - - 360,000 360,000
Northpoint London Ltd - - 50,000 50,000
Burlington Projects Ltd - - 100,000 -
Victoria Property Holdings Ltd - - 60,000 -
Colorado Assets Ltd - - (59,000) -
Taragon Limited - - 159,000 -
Sloane Projects Ltd - - 405,000 -
_______ _______ _______ _______
Alex Properties Limited is a company incorporated in Northern Ireland of which Mr Paul Martin, father of Mr Paul Gavin Martin and Mr Gary Michael Martin , is a director.Maddox Projects Ltd is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin and Mr Gary Michael Martin are directors.Chester Project Services Ltd is a company incorporated in Northern Ireland of which Mr Michael Gerard Martin, brother of Mr Paul Gavin Martin and Mr Gary Michael Martin, is a director.Carlisle Ventures Ltd is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin is a director.Glenlark Limited is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin and Mr Gary Michael Martin is a director.PPM Properties Limited is a company incorporated in Northern Ireland of which Mr Paul Martin, father of Mr Paul Gavin Martin and Mr Gary Michael Martin, is a director.Curzon Projects Ltd is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin and Mr Gary Michael Martin are directors.Lewispark Properties Ltd is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin and Mr Gary Michael Martin are directors.Hollandale Projects Limited is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin is a director.Rathkeel Limited is a company incorporated in Northern Ireland of which Mr Michael Gerard Martin, brother of Mr Paul Gavin Martin and Mr Gary Michael Martin, is a director.Foyle Projects Ltd is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin and Mr Gary Michael Martin are directors.Plumville Limited is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin is a director.Talbot Ventures Limited is a company incorporated in Northern Ireland of which Mr Michael Gerard Martin, brother of Mr Paul Gavin Martin and Mr Gary Michael Martin, is a director.Northpoint London Ltd is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin is a director.Burlington Projects Ltd is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin is a director.Victoria Property Holdings Ltd is a company incorporated in Northern Ireland of which Mr Gary Michael Martin and Mr Paul Gavin Martin are directors.Colorado Assets Ltd is a company incorporated in Northern Ireland of which Mr Paul Gavin Martin is a director. Mr Gary Michael Martin was a director during the year until resigning on 01/08/2023.Taragon Limited is a company incorporated in Northern Ireland of which Mr Patrick Martin, uncle of Mr Paul Gavin Martin and Mr Gary Michael Martin, is a director.Sloane Projects Ltd is a company incorporated in Northern Ireland of which Mr Gary Michael Martin and Mr Paul Gavin Martin are directors.
8. Controlling party
Mr Paul Gavin Martin , director and sole shareholder is considered to be the company's controlling party.