PSP Holdco Limited - Accounts to registrar (filleted) - small 18.2

PSP Holdco Limited - Accounts to registrar (filleted) - small 18.2

PSP HOLDCO LTD - Company Information

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REGISTERED NUMBER: 05301093 (England and Wales)







Financial Statements for the Year Ended 31 January 2019

for

PSP Holdco Limited
PSP Holdco Limited (Registered number: 05301093)






Contents of the Financial Statements
for the Year Ended 31 January 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PSP Holdco Limited

Company Information
for the Year Ended 31 January 2019







DIRECTORS: P Dewani
PSP Group Limited





SECRETARY: PSP Group Limited





REGISTERED OFFICE: 8 Clarendon Terrace
London
W9 1BZ





REGISTERED NUMBER: 05301093 (England and Wales)





AUDITORS: Dunkley's
Statutory Auditor
Chartered Accountants
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY
Page 1
PSP Holdco Limited (Registered number: 05301093)

Balance Sheet
31 January 2019

31.1.19 31.1.18
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 448,000 448,000

CURRENT ASSETS
Cash at bank 1,670 2,474

CREDITORS
Amounts falling due within one year 4 209,631 208,168
NET CURRENT LIABILITIES (207,961 ) (205,694 )
TOTAL ASSETS LESS CURRENT LIABILITIES 240,039 242,306

CREDITORS
Amounts falling due after more than one
year
5
143,925
153,661
NET ASSETS 96,114 88,645

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Fair value reserve 8 99,365 99,365
Retained earnings 8 (4,251 ) (11,720 )
SHAREHOLDERS' FUNDS 96,114 88,645

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25 October 2019 and were signed on its behalf
by:





P Dewani - Director


The notes form part of these financial statements

Page 2
PSP Holdco Limited (Registered number: 05301093)

Notes to the Financial Statements
for the Year Ended 31 January 2019

1. STATUTORY INFORMATION

PSP Holdco Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes
in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the
reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2018
and 31 January 2019 448,000
NET BOOK VALUE
At 31 January 2019 448,000
At 31 January 2018 448,000

The directors review the valuations of land and buildings annually by comparison to the local market and
industry specific data available. Revaluations of the property are undertaken periodically as deemed
necessary.

Page 3 continued...
PSP Holdco Limited (Registered number: 05301093)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2019

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.19 31.1.18
£    £   
Bank loans and overdrafts 9,363 7,900
Amounts owed to group undertakings 200,000 200,000
Accrued expenses 268 268
209,631 208,168

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.19 31.1.18
£    £   
Bank loans - 1-2 years 103,731 7,900
Bank loans - 2-5 years 28,091 118,067
Bank loans more 5 yr by instal 12,103 27,694
143,925 153,661

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,103 27,694

6. SECURED DEBTS

The following secured debts are included within creditors:

31.1.19 31.1.18
£    £   
Bank loans 153,288 161,561

The company has a loan with Natwest with a liability at 31/01/2019 of £58,921 (2018 - £67,195). This loan is
repayable in monthly instalments over the period to 30/10/2025. The interest rate on the loan is 1.12% above
UK base rate.

There is a 1st legal charge over the investment property and a fixed and floating charge over the assets and
future income of the company.

The group also has a loan with Barclays (formerly Woolwich) with a liability at 31/01/2019 of £94,367 (2018 -
£94,367). This loan is interest only and is repayable by 01/02/2020. The loan has been secured privately by a
related party. The interest rate on the loan is at a variable rate above UK base rate.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.19 31.1.18
value: £    £   
1,000 Ordinary £1 1,000 1,000

Page 4 continued...
PSP Holdco Limited (Registered number: 05301093)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2019

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2018 (11,720 ) 99,365 87,645
Profit for the year 7,469 7,469
At 31 January 2019 (4,251 ) 99,365 95,114

Fair value funds relate to retained earnings that are not yet available for distribution to shareholders.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Dobbins FCA (Senior Statutory Auditor)
for and on behalf of Dunkley's

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.

During the period the company wrote off loans of £nil (2018 - £18,727) owed to other related parties outside
the group. The other parties involved were in agreement of this treatment.

At the balance sheet date, the net creditor outstanding with other related parties was £200,000 (2018 -
£200,000).

11. APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit
returns to the tax authorities and assist with the preparation of the financial statements.

12. ULTIMATE CONTROLLING PARTY

The parent of the smallest group for which consolidated financial statements are drawn up is PSP Group Ltd
(Registered office - 8 Clarendon Terrace, London, England, W9 1BZ).

Page 5