PERSONAS ADMIN SUPPORT SOLUTIONS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31ST MARCH 2024 |
PERSONAS ADMIN SUPPORT SOLUTIONS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31ST MARCH 2024 |
PERSONAS ADMIN SUPPORT SOLUTIONS LIMITED (REGISTERED NUMBER: 12358199) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PERSONAS ADMIN SUPPORT SOLUTIONS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
First Floor, Woburn Court |
2 Railton Road |
Woburn Rd Ind Est |
Kempston |
Bedfordshire |
MK42 7PN |
PERSONAS ADMIN SUPPORT SOLUTIONS LIMITED (REGISTERED NUMBER: 12358199) |
BALANCE SHEET |
31ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
PERSONAS ADMIN SUPPORT SOLUTIONS LIMITED (REGISTERED NUMBER: 12358199) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Personas Admin Support Solutions Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the Company's accounting policies, which are described above, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. |
Estimates and judgements are continually evaluated and are based on historical experience and other factors,including expectations of future events that are believed to be reasonable under the circumstances. |
Critical judgements in applying the Company's accounting policies. |
The directors do not consider there to be any critical accounting judgements that must be applied. |
Key accounting estimates and assumptions |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The directors do not consider there to be any estimates or assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Turnover |
Turnover is measured at the fair value of the consultancy services received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
PERSONAS ADMIN SUPPORT SOLUTIONS LIMITED (REGISTERED NUMBER: 12358199) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
The accounts have been prepared on a going concern basis as the company is supported by the director, the parent company and loans from a company under common control.The company has made a profit of £56,342 and has net assets of £212,003. Since the year end the company's trade has remained steady. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Called up share capital not paid |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
VAT | 4,437 | 3,221 |
Accruals and deferred income |
6. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
PERSONAS ADMIN SUPPORT SOLUTIONS LIMITED (REGISTERED NUMBER: 12358199) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | RELATED PARTY DISCLOSURES |
During the period the company received consultancy services from Redneval Consultancy Limited, a company in which the director, M J Evans has an interest. During the year the company was charged £196,163 (2023: £171,250) for these services. At the year end £2,638 (2023: £nil) was owed to Redneval Consultancy Limited. |
Also during the year the company provided services to PP Realisations 2024 Ltd (PPRL), a group company amounting to £113,143 (2023 - £100,380). At the year end the company were owed £19,238 (2023 - £11,083). |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is M J Evans. |
By virtue of his significant control and majority shareholding of the parent company. |
Personas Group Limited is regarded by the directors as being the company's ultimate parent company. |
Their registered office is Bicester Innovation Centre, 110 Commerce House, Telford Road, Bicester, Oxfordshire, OX26 4LD |
Copies of the consolidated financial statements of Personas Group Limited are available at Companies House. |