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REGISTERED NUMBER: 14614016 (England and Wales)










Unaudited Financial Statements

for the Period 24 January 2023 to 31 March 2024

for

Ppn Admin Ltd

Ppn Admin Ltd (Registered number: 14614016)






Contents of the Financial Statements
for the Period 24 January 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ppn Admin Ltd

Company Information
for the Period 24 January 2023 to 31 March 2024







DIRECTOR: R J Beese





SECRETARY: R J Beese





REGISTERED OFFICE: 3 Sheen Road
Richmond Upon Thames
TW9 1AD





REGISTERED NUMBER: 14614016 (England and Wales)





ACCOUNTANTS: SKS Business Services Limited
3 Sheen Road
Richmond upon Thames
Richmond
Surrey
TW9 1AD

Ppn Admin Ltd (Registered number: 14614016)

Balance Sheet
31 March 2024

Notes £   
FIXED ASSETS
Intangible assets 4 1,800

CURRENT ASSETS
Debtors 5 236,009
Cash at bank 3,756
239,765
CREDITORS
Amounts falling due within one year 6 (350,785 )
NET CURRENT LIABILITIES (111,020 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(109,220

)

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (109,320 )
(109,220 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 March 2025 and were signed by:




R J Beese - Director


Ppn Admin Ltd (Registered number: 14614016)

Notes to the Financial Statements
for the Period 24 January 2023 to 31 March 2024

1. STATUTORY INFORMATION

Ppn Admin Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity is that of an intermediate holding company.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

REVENUE
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
o the amount of revenue can be measured reliably;
o it is probable that the Company will receive the consideration due under the contract;
o the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
o the costs incurred and the costs to complete the contract can be measured reliably.

GOODWILL
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

GOVERNMENT GRANTS
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.


Ppn Admin Ltd (Registered number: 14614016)

Notes to the Financial Statements - continued
for the Period 24 January 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued
CURRENT AND DEFERRED TAXATION
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
o The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
o Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

PENSIONS
DEFINED CONTRIBUTION PENSION PLAN
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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

GOING CONCERN
The director has, at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they adopt a going concern basis of accounting in preparing the financial statements. The director has considered a period of 12 months from the balance sheet date.

FINANCE COSTS
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

EXCEPTIONAL ITEMS
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.


Ppn Admin Ltd (Registered number: 14614016)

Notes to the Financial Statements - continued
for the Period 24 January 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

DEBTORS
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

CREDITORS
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

PROVISIONS FOR LIABILITIES
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 1,800
At 31 March 2024 1,800
NET BOOK VALUE
At 31 March 2024 1,800

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 3,776
Amounts owed by group undertakings 230,022
VAT 2,211
236,009

Ppn Admin Ltd (Registered number: 14614016)

Notes to the Financial Statements - continued
for the Period 24 January 2023 to 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 7,114
Amounts owed to group undertakings 334,711
Social security and other tax 6,398
Other creditors 257
Accrued expenses 2,305
350,785

7. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,210.77. Contributions totalling £256.83 were payable to the fund at the balance sheet date and are included in creditors.

8. ULTIMATE CONTROLLING PARTY

The immediate parent company is PPN Ventures Ltd, a company incorporated and registered in England and Wales. The ultimate parent company is MFT Capital Ltd, a company incorporated and registered in England and Wales. The Address of the ultimate parent company's registered office is 3 Sheen Road, Richmond Upon Thames, England, TW9 1AD.

The director considers MFT Capital Ltd, a company incorporated in England and Wales, to be the controlling party of the Company. The results of the Company are shown within the Consolidated Financial Statements of MFT Capital Ltd. Copies of the Group accounts are available from Companies House, Crown Way, Cardiff, CF14 3UZ