Company Registration No. 09427951 (England and Wales)
PMGP LTD
Unaudited accounts
for the year ended 31 May 2024
PMGP LTD
Unaudited accounts
Contents
PMGP LTD
Company Information
for the year ended 31 May 2024
Company Number
09427951 (England and Wales)
Registered Office
7 High Street
Chapel-en-le-Frith,
High Peak,
SK23 0HD
Accountants
Stoney Philbin & Company Limited
7 High Street
Chapel-en-le-Frith
High Peak
SK23 0HD
PMGP LTD
Statement of financial position
as at 31 May 2024
Tangible assets
1,337,111
1,337,111
Debtors
2,235,930
2,627,154
Cash at bank and in hand
480,075
3,740
Creditors: amounts falling due within one year
(3,538,195)
(3,030,726)
Net current liabilities
(822,190)
(399,832)
Total assets less current liabilities
515,221
937,579
Creditors: amounts falling due after more than one year
(1,723,025)
(1,924,224)
Net liabilities
(1,207,804)
(986,645)
Called up share capital
100
100
Profit and loss account
(1,207,904)
(986,745)
Shareholders' funds
(1,207,804)
(986,645)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 April 2025 and were signed on its behalf by
P M Grayson
Director
Company Registration No. 09427951
PMGP LTD
Notes to the Accounts
for the year ended 31 May 2024
PMGP LTD is a private company, limited by shares, registered in England and Wales, registration number 09427951. The registered office is 7 High Street, Chapel-en-le-Frith,, High Peak,, SK23 0HD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0% on cost
There was a net deficiency of assets at the balance sheet date, however the director has confirmed continued support from other group undertakings and considers the company retains sufficient working capital to continue trading for the foreseeable future.
4
Tangible fixed assets
Land & buildings
PMGP LTD
Notes to the Accounts
for the year ended 31 May 2024
5
Investments
Subsidiary undertakings
Valuation at 1 June 2023
300
Valuation at 31 May 2024
300
Amounts falling due within one year
Trade debtors
12,987
7,852
Amounts due from group undertakings etc.
1,123,192
1,519,551
Other debtors
1,099,751
1,099,751
7
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
3,336,900
3,030,726
Loans from directors
201,095
-
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,723,025
1,924,224
9
Transactions with related parties
During the year the company loaned capital from Graysons H & E Services Ltd, a 100% subsidiary group company. The balance outstanding at the year end was £3,030,726 (2022 - £2,936,225).
During the year the company loaned capital to PGRL Ltd, a 100% subsidiary group company. The balance outstanding at the year end was £427,055 (2022 - £304,314).
During the year the company loaned capital to PMGPD Ltd, a company with common directors and shareholders. The balance outstanding at the year end was £1,092,496 (2022 - £654,617).
The interest receivable figure arose from charging a market rate to the director on an outstanding loan balance. The balance outstanding at the year end was £nil (2022 - £833,394).
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).