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COMPANY REGISTRATION NUMBER: 15241343
PHW INVESTMENTS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 March 2024
PHW INVESTMENTS LTD
FINANCIAL STATEMENTS
PERIOD ENDED 30 MARCH 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
PHW INVESTMENTS LTD
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
R Slabbert
C K Batchelor
Registered office
168 Church Road
Hove
East Sussex
BN3 2DL
Accountants
UHY Hacker Young
Chartered accountants
168 Church Road
Hove
East Sussex
BN3 2DL
PHW INVESTMENTS LTD
STATEMENT OF FINANCIAL POSITION
30 March 2024
2024
Note
£
£
Fixed assets
Tangible assets
4
1,363,607
Current assets
Debtors
5
42,632
Cash at bank and in hand
872
---------
43,504
Creditors: amounts falling due within one year
6
1,467,459
-------------
Net current liabilities
1,423,955
-------------
Total assets less current liabilities
( 60,348)
---------
Net liabilities
( 60,348)
---------
Capital and reserves
Called up share capital
100
Profit and loss account
( 60,448)
---------
Shareholders deficit
( 60,348)
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PHW INVESTMENTS LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
R Slabbert
Director
Company registration number: 15241343
PHW INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 30 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Tangible assets
Freehold property
£
Cost
At 1 April 2023
Additions
1,363,607
-------------
At 30 March 2024
1,363,607
-------------
Depreciation
At 1 April 2023 and 30 March 2024
-------------
Carrying amount
At 30 March 2024
1,363,607
-------------
5. Debtors
2024
£
Other debtors
42,632
---------
6. Creditors: amounts falling due within one year
2024
£
Bank loans and overdrafts
829,595
Trade creditors
18,318
Amounts due to connected companies
617,986
Other creditors
1,560
-------------
1,467,459
-------------
Bank loan totalling £829,595 is secured over the freehold property held within the company (2023 £Nil).