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Registration number: 08131258

PMG Regeneration Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

PMG Regeneration Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 5

 

PMG Regeneration Limited

Company Information

Directors

S C Crook

D A Cunningham

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

PMG Regeneration Limited

Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

502,737

566,241

Debtors

5

2,183

284

Cash at bank and in hand

 

91,041

805

 

595,961

567,330

Creditors: Amounts falling due within one year

6

(16,570)

(583,464)

Total assets less current liabilities

 

579,391

(16,134)

Creditors: Amounts falling due after more than one year

6

(513,200)

-

Net assets/(liabilities)

 

66,191

(16,134)

Capital and reserves

 

Called up share capital

100

2

Share premium reserve

99,950

-

Retained earnings

(33,859)

(16,136)

Shareholders' funds/(deficit)

 

66,191

(16,134)

For the financial year ending 31 July 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 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

 

PMG Regeneration Limited

Statement of Financial Position as at 31 July 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

.........................................

S C Crook

Director

Company registration number: 08131258

 

PMG Regeneration Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of property development.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a loss for the year ended 31 July 2024 but had net assets at that date amounting to £66,191 including cash at bank of £91,041. The directors remain confident that the company's development project will be successful.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

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.

Stocks

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

PMG Regeneration Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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 during the year, was 0 (2023 - 0).

4

Stocks

2024
£

2023
£

Work In Progress

502,737

566,241

5

Debtors

2024
£

2023
£

Other debtors

2,183

284

2,183

284

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

5,700

1,260

Accruals and deferred income

10,870

2,500

Other creditors

-

579,704

16,570

583,464

Creditors: amounts falling due after more than one year

2024
£

2023
£

Other loans

513,200

-