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PPS PUMPS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The company is a private company limited by shares and is incorporated in England and Wales. The address of its Registered Office is Causeway House, 1 Dane Street, Bishop's Stortford, Hertfordshire, CM23 3BT. The trading address of the company is Unit 12 Haslemere Industrial Estate, Pig Lane, Bishop's Stortford, Hertfordshire, CM23 3HG.
The company is the subsidiary company within a small group.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The Company meets its day to day working capital requirements through informal borrowing from its parent company. The parent will not withdraw their funds until the company is in a position to do so. As a result the going concern basis of accounting has been adopted. The financial statements do not include any adjustments that would result from the withdrawal of this support.
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.
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.
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