REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
PESA Corporate Holdings Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
PESA Corporate Holdings Limited |
PESA Corporate Holdings Limited (Registered number: 08524527) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PESA Corporate Holdings Limited |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Abacus House |
Pennine Business Park |
Longbow Close |
Huddersfield |
West Yorkshire |
HD2 1GQ |
PESA Corporate Holdings Limited (Registered number: 08524527) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Undistributable reserve | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
PESA Corporate Holdings Limited (Registered number: 08524527) |
Balance Sheet - continued |
31 July 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
PESA Corporate Holdings Limited (Registered number: 08524527) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
PESA Corporate Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Investment property |
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. |
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. |
No depreciation is provided on investment properties as a result of FRS 102 section 16, this represents a departure from the requirements of the Companies Act. The directors have concluded that the financial statements present fairly the company's financial position and financial performance and complies with applicable legislation, except for the departure above. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
PESA Corporate Holdings Limited (Registered number: 08524527) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
The directors have assessed the fair value of the investment property and valuation has been made on an open market basis by reference to similar properties in the area. |
The original cost of all investment property amounts to £2,052,818 (2023 - £2,052,818). The directors are satisfied with the valuation of the investment property. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Amounts owed to associates | 346,120 | 361,663 |
Tax |
Directors' loan accounts | 100,189 | 39,902 |
Accruals and deferred income |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Bank loans (see note 8) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,312,972 | 1,363,508 |
PESA Corporate Holdings Limited (Registered number: 08524527) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
8. | LOANS |
An analysis of the maturity of loans is given below: |
31.7.24 | 31.7.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,312,972 | 1,363,508 |
9. | SECURED DEBTS |
NatWest Bank Plc hold the following: |
Debenture including Fixed Charge over all present and future freehold and leasehold property: First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future: and First Floating Charge over all assets and undertaking both present and future. |
10. | RESERVES |
Retained | Undistributable |
earnings | reserve | Totals |
£ | £ | £ |
At 1 August 2023 | 133,213 |
Profit for the year |
Transfer between reserves | 438 | (438 | ) | - |
At 31 July 2024 | 149,526 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Included within creditors is a loan from the directors of £100,189 (2023: £39,902). The loan in interest free and is payable on demand. |