Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-06-01false11truetruefalse 14117458 2023-06-01 2024-05-31 14117458 2022-05-19 2023-05-31 14117458 2024-05-31 14117458 2023-05-31 14117458 c:Director1 2023-06-01 2024-05-31 14117458 d:FreeholdInvestmentProperty 2023-06-01 2024-05-31 14117458 d:FreeholdInvestmentProperty 2024-05-31 14117458 d:FreeholdInvestmentProperty 2023-05-31 14117458 d:CurrentFinancialInstruments 2024-05-31 14117458 d:CurrentFinancialInstruments 2023-05-31 14117458 d:Non-currentFinancialInstruments 2024-05-31 14117458 d:Non-currentFinancialInstruments 2023-05-31 14117458 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 14117458 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14117458 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 14117458 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 14117458 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 14117458 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 14117458 d:ShareCapital 2024-05-31 14117458 d:ShareCapital 2023-05-31 14117458 d:RetainedEarningsAccumulatedLosses 2024-05-31 14117458 d:RetainedEarningsAccumulatedLosses 2023-05-31 14117458 c:OrdinaryShareClass1 2023-06-01 2024-05-31 14117458 c:OrdinaryShareClass1 2024-05-31 14117458 c:OrdinaryShareClass1 2023-05-31 14117458 c:FRS102 2023-06-01 2024-05-31 14117458 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 14117458 c:FullAccounts 2023-06-01 2024-05-31 14117458 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14117458 2 2023-06-01 2024-05-31 14117458 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14117458









PCO 1 LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
PCO 1 LTD
REGISTERED NUMBER: 14117458

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,072,995
1,870,949

  
2,072,995
1,870,949

Current assets
  

Debtors: amounts falling due within one year
 5 
1,265
16,193

Cash at bank and in hand
 6 
23,789
108,750

  
25,054
124,943

Creditors: amounts falling due within one year
 7 
(1,044,166)
(975,087)

Net current liabilities
  
 
 
(1,019,112)
 
 
(850,144)

Total assets less current liabilities
  
1,053,883
1,020,805

Creditors: amounts falling due after more than one year
 8 
(1,128,792)
(1,058,170)

  

Net liabilities
  
(74,909)
(37,365)


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
(74,910)
(37,366)

  
(74,909)
(37,365)


Page 1

 
PCO 1 LTD
REGISTERED NUMBER: 14117458
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers 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 director acknowledges his 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 comprehensive income 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 by: 




................................................
M Pavlovic
Director

Date: 9 April 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PCO 1 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

PCO 1 Ltd is a private company limited by shares incorporated in England & Wales (registered number 14117458). The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.
The financial statements are presented in Pounds Sterling, which is the functional currency of the company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given the company is in a net deficit position, the director has provided assurances to continue to provide adequate funds to enable the company to meet its obligations, and not demand repayment of any funds to them, until the company is in a financial position to do so. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
PCO 1 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

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:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

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.

Page 4

 
PCO 1 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.10

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
1,870,949


Additions at cost
202,046



At 31 May 2024
2,072,995

The 2024 valuations were made by director, on an open market value for existing use basis.







Page 5

 
PCO 1 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Other debtors
1,265
16,193

1,265
16,193



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
23,789
108,750

23,789
108,750



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
996,755
930,612

Other creditors
39,631
40,210

Accruals and deferred income
7,780
4,265

1,044,166
975,087



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
1,128,792
1,058,170

1,128,792
1,058,170


Page 6

 
PCO 1 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
996,755
930,612


996,755
930,612



Amounts falling due after more than 5 years

Other loans
1,128,792
1,058,170

1,128,792
1,058,170

2,125,547
1,988,782



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



11.


Related party transactions

As at 31.05.2024 the company owes a loan of £447,051, including interest accrued to an entity under common control. 


12.


Controlling party

The company is controlled by the director. 

 
Page 7