Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-3062023-07-01falseNo description of principal activity5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10262484 2023-07-01 2024-06-30 10262484 2022-07-01 2023-06-30 10262484 2024-06-30 10262484 2023-06-30 10262484 c:Director1 2023-07-01 2024-06-30 10262484 d:OfficeEquipment 2023-07-01 2024-06-30 10262484 d:OfficeEquipment 2024-06-30 10262484 d:OfficeEquipment 2023-06-30 10262484 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10262484 d:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 10262484 d:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 10262484 d:CurrentFinancialInstruments 2024-06-30 10262484 d:CurrentFinancialInstruments 2023-06-30 10262484 d:Non-currentFinancialInstruments 2024-06-30 10262484 d:Non-currentFinancialInstruments 2023-06-30 10262484 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10262484 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10262484 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 10262484 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 10262484 d:ShareCapital 2024-06-30 10262484 d:ShareCapital 2023-06-30 10262484 d:RetainedEarningsAccumulatedLosses 2024-06-30 10262484 d:RetainedEarningsAccumulatedLosses 2023-06-30 10262484 c:FRS102 2023-07-01 2024-06-30 10262484 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10262484 c:FullAccounts 2023-07-01 2024-06-30 10262484 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10262484 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10262484









THE PILGRM LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
THE PILGRM LIMITED
REGISTERED NUMBER: 10262484

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Intangible assets
 5 
200
30,573

Tangible assets
 6 
720
1,385

  
920
31,958

Current assets
  

Debtors: amounts falling due within one year
 7 
99,363
88,552

Cash at bank and in hand
  
6,006
23,192

  
105,369
111,744

Creditors: amounts falling due within one year
 8 
(266,675)
(248,926)

Net current liabilities
  
 
 
(161,306)
 
 
(137,182)

Total assets less current liabilities
  
(160,386)
(105,224)

Creditors: amounts falling due after more than one year
 9 
(10,000)
(20,000)

  

Net liabilities
  
(170,386)
(125,224)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(171,386)
(126,224)

  
(170,386)
(125,224)


Page 1

 
THE PILGRM LIMITED
REGISTERED NUMBER: 10262484
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 March 2025.

J Catifeoglou
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
THE PILGRM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Pilgrm Limited is a private company limited by shares and registered in England and Wales. The registered office address is 25 London Street, London W2 1HH which is also its principal place of business.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date the company had net current liabilities and is dependent upon the continued financial support of its major creditor who is a related party. Whilst the loan is repayable on demand, the lender has confirmed that it will not be seeking repayment until such time that the company is able. The directors have taken steps to ensure that there will be sufficient cashflow available over the next twelve months. Accordingly, accounts are prepared on the basis that the company will continue in operational existence for the foreseeable future as a concern concern.

 
2.3

Currency

The company's functional and presentational currency is GBP.

 
2.4

Revenue

Revenue comprises hotel management fees receivable, excluding value added tax.
Fees are recognised over the period the service was provided.

 
2.5

Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 3

 
THE PILGRM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life. 
Brand development costs are amortised over the expected useful economic life which is considered to be five years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Office equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.10

Creditors

Short and long term creditors are measured at the transaction price. 

 
2.11

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans with third parties.
 
Page 4

 
THE PILGRM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Brand development costs
The costs incurred in developing the Pilgrm brand up to the financial year end have been capitalised as an intangible asset. Amortisation is being charged over a period of five years.


4.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 5).

Page 5

 
THE PILGRM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Intangible assets




Brand development costs

£



Cost


At 1 July 2023
152,865



At 30 June 2024

152,865



Amortisation


At 1 July 2023
122,292


Charge for the year on owned assets
30,373



At 30 June 2024

152,665



Net book value



At 30 June 2024
200



At 30 June 2023
30,573



Page 6

 
THE PILGRM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 July 2023
2,412



At 30 June 2024

2,412



Depreciation


At 1 July 2023
1,027


Charge for the year on owned assets
665



At 30 June 2024

1,692



Net book value



At 30 June 2024
720



At 30 June 2023
1,385

Page 7

 
THE PILGRM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Debtors

2024
2023
£
£


Trade debtors
-
33,600

Other debtors
96,863
53,952

Called up share capital not paid
1,000
1,000

Prepayments and accrued income
1,500
-

99,363
88,552



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
10,000
10,000

Trade creditors
10,902
3,211

Other taxation and social security
55,406
47,509

Other creditors
182,867
180,956

Accruals
7,500
7,250

266,675
248,926


The company received a bank loan under the government guaranteed Bounce Back Loan Scheme. At the financial year end the amount owed was £20,000 which is disclosed in notes 8 and 9 to the financial statements.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
10,000
20,000

10,000
20,000


Page 8

 
THE PILGRM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Related party transactions

At 30 June 2024 the company had the following balances with companies related by virtue of the controlling interest and directorship of A T Thrasyvoulou.
Amount owed by New World Hospitality UK Limited         £96,863    (2023  £53,952)
Amount owed to Airminster Limited                                £178,944     (2023  £178,944)
The amounts are unsecured, interest free and repayable on demand.

 
Page 9