Registration number:
PP Challenge Limited
for the Year Ended 30 April 2025
PP Challenge Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
PP Challenge Limited
(Registration number: 04427997)
Balance Sheet as at 30 April 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Stocks |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Other reserves |
90,630 |
66,330 |
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Retained earnings |
168,999 |
169,385 |
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Shareholders' funds |
259,829 |
235,915 |
PP Challenge Limited
(Registration number: 04427997)
Balance Sheet as at 30 April 2025
For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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PP Challenge Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover represents the value of rental income received and retail sale of flowers, in the ordinary course of the company's activities.
Government grants
Government grants are accounted for as revenue based grants under the accrual model in the period in which they are receivable.
Tax
The tax expense for the period comprises current tax payable and deferred tax.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
PP Challenge Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
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Asset class |
Depreciation method and rate |
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Furniture, fittings & equipment |
20% Straight line basis |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
PP Challenge Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 May 2024 |
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At 30 April 2025 |
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Depreciation |
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At 1 May 2024 |
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Charge for the year |
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At 30 April 2025 |
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Carrying amount |
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At 30 April 2025 |
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At 30 April 2024 |
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Investment properties |
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2025 |
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At 1 May |
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Fair value adjustments |
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At 30 April |
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There has been no valuation of investment property by an independent valuer.
PP Challenge Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
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Creditors |
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2025 |
2024 |
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Due within one year |
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Taxation and social security |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2025 |
2024 |
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Due after one year |
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Other non-current financial liabilities |
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Related party transactions |
The director has made a loan to the company. At the balance sheet date, the amount due to the director is £271,760 (2024: £276,323).