Registration number:
PMG Regeneration Limited
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PMG Regeneration Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
PMG Regeneration Limited
Company Information
Directors |
S C Crook D A Cunningham |
Registered office |
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Accountants |
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PMG Regeneration Limited
Statement of Financial Position as at 31 July 2024
Note |
2024 |
2023 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
100 |
2 |
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Share premium reserve |
99,950 |
- |
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Retained earnings |
(33,859) |
(16,136) |
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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:
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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
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S C Crook
Director
Company registration number: 08131258
PMG Regeneration Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of property development.
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Stocks |
2024 |
2023 |
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Work In Progress |
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Debtors |
2024 |
2023 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
- |
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Creditors: amounts falling due after more than one year
2024 |
2023 |
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Other loans |
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- |