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Company registration number: 12591087
PCS Holdco Limited
Unaudited filleted financial statements
30 June 2024
PCS Holdco Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
PCS Holdco Limited
Directors and other information
Directors Mr Allister Rambour
Mrs Kayley Parkes
Company number 12591087
Registered office Unit 2E North Road
Marchwood Industrial Estate
Marchwood
Southampton
SO40 4BL
Business address Unit 2E North Road
Marchwood Industrial park
Marchwood
Southampton
SO40 4BL
Accountants Morgan Hemp
103-104 Walter Road
Swansea
SA1 5QF
Bankers Barclays Bank Plc
PCS Holdco Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of PCS Holdco Limited
Year ended 30 June 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 PCS Holdco Limited for the year ended 30 June 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of PCS Holdco 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 PCS Holdco Limited and state those matters that we have agreed to state to the board of directors of PCS Holdco Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PCS Holdco Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that PCS Holdco 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 PCS Holdco Limited. You consider that PCS Holdco 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 PCS Holdco 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.
Morgan Hemp
Chartered Certified Accountants
103-104 Walter Road
Swansea
SA1 5QF
19 November 2024
PCS Holdco Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 4 2,416,617 2,416,617
_______ _______
2,416,617 2,416,617
Current assets
Debtors 5 100 100
Cash at bank and in hand 2 -
_______ _______
102 100
Creditors: amounts falling due
within one year 6 ( 1,307,358) ( 1,782,307)
_______ _______
Net current liabilities ( 1,307,256) ( 1,782,207)
_______ _______
Total assets less current liabilities 1,109,361 634,410
Creditors: amounts falling due
after more than one year 7 ( 275,000) -
_______ _______
Net assets 834,361 634,410
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 834,261 634,310
_______ _______
Shareholders funds 834,361 634,410
_______ _______
For the year ending 30 June 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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 November 2024 , and are signed on behalf of the board by:
Mr Allister Rambour Mrs Kayley Parkes
Director Director
Company registration number: 12591087
PCS Holdco Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Unit 2E North Road, Marchwood Industrial Estate, Marchwood, Southampton, SO40 4BL.
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.
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.
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. 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.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 July 2023 and 30 June 2024 2,416,617 2,416,617
_______ _______
Impairment
At 1 July 2023 and 30 June 2024 - -
_______ _______
Carrying amount
At 30 June 2024 2,416,617 2,416,617
_______ _______
At 30 June 2023 2,416,617 2,416,617
_______ _______
5. Debtors
2024 2023
£ £
Other debtors 100 100
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,006,931 906,878
Other creditors 300,427 875,429
_______ _______
1,307,358 1,782,307
_______ _______
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 275,000 -
_______ _______
8. Related party transactions
Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies.