Company registration number 13657297 (England and Wales)
P&P GROUP HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
P&P GROUP HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
P&P GROUP HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
195,068
220,068
Tangible assets
4
59,895
75,239
Investments
5
105
104
255,068
295,411
Current assets
Debtors falling due after more than one year
6
-
0
384,840
Debtors falling due within one year
6
8,113,168
3,000,819
Cash at bank and in hand
261,153
1,595,823
8,374,321
4,981,482
Creditors: amounts falling due within one year
7
(5,575,455)
(1,414,007)
Net current assets
2,798,866
3,567,475
Total assets less current liabilities
3,053,934
3,862,886
Creditors: amounts falling due after more than one year
8
(8,695,674)
(7,037,188)
Provisions for liabilities
(28,525)
(27,589)
Net liabilities
(5,670,265)
(3,201,891)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(5,670,266)
(3,201,892)
Total equity
(5,670,265)
(3,201,891)
P&P GROUP HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 6 November 2025
M Peter
Director
Company registration number 13657297 (England and Wales)
P&P GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

P&P Group Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12 Hay Hill, London, United Kingdom, W1J 8NR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company will continue to benefit from financial support from its owner, who has confirmed that they will provide the company with sufficient resources to enable it to meet its debts as they fall due for a period of at least 12 months from the date of approval of these financial statements. The Director has reviewed and considered relevant information including the group's annual budget, the post balance sheet date performance and growth, and the cash flow forecasts in making their assessment. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Memberships
10 years straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on cost
Computer equipment
33% on reducing balance
P&P GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, loans from fellow group companies and connected companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

P&P GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.11
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
2
P&P GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Intangible fixed assets
Memberships
£
Cost
At 1 January 2024 and 31 December 2024
250,000
Amortisation and impairment
At 1 January 2024
29,932
Amortisation charged for the year
25,000
At 31 December 2024
54,932
Carrying amount
At 31 December 2024
195,068
At 31 December 2023
220,068
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 January 2024
86,623
13,126
99,749
Additions
936
1,612
2,548
At 31 December 2024
87,559
14,738
102,297
Depreciation and impairment
At 1 January 2024
19,537
4,973
24,510
Depreciation charged in the year
14,758
3,134
17,892
At 31 December 2024
34,295
8,107
42,402
Carrying amount
At 31 December 2024
53,264
6,631
59,895
At 31 December 2023
67,086
8,153
75,239
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
105
104
P&P GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
104
Additions
1
At 31 December 2024
105
Carrying amount
At 31 December 2024
105
At 31 December 2023
104
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,919,719
419,900
Other debtors
6,121,758
2,472,478
Prepayments and accrued income
71,691
108,441
8,113,168
3,000,819
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
-
0
384,840
Total debtors
8,113,168
3,385,659

Included in Other debtors are amounts totalling £5,640,160 (202 3: £2,376,608) due from connected companies. Amounts due from group and connected companies are interest free and repayable on demand.

P&P GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
487,803
137,651
Amounts owed to group undertakings
3,426,965
4
Taxation and social security
11,661
-
0
Other creditors
1,555,183
1,065,343
Accruals and deferred income
93,843
211,009
5,575,455
1,414,007
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
8,695,674
7,037,188

Included in other creditors are loans totalling £8,695,674 (202 3: £7,037,188) from a connected company. The loans are subject to an interest rate of S ONIA plus 2% and interest is payable at the end of the loan in December 2026.

9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
1,086,570
1,367,148
10
Related party transactions

Other creditors includes an amount of £959,563 (2023: £512,936) due to the director of the company.

11
Parent company

M Peter is the ultimate controlling party.

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