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Company registration number: 04261011
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 JULY 2020
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PI CONSULTING (TRUSTEE SERVICES) LIMITED
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PI CONSULTING (TRUSTEE SERVICES) LIMITED
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COMPANY INFORMATION
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T M Illston (resigned 20 March 2020)
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PI CONSULTING (TRUSTEE SERVICES) LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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PI CONSULTING (TRUSTEE SERVICES) LIMITED
REGISTERED NUMBER:04261011
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STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2020
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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PI CONSULTING (TRUSTEE SERVICES) LIMITED
REGISTERED NUMBER:04261011
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2020
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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A R Cooper
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The notes on pages 3 to 5 form part of these financial statements.
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PI CONSULTING (TRUSTEE SERVICES) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
Pi Consulting (Trustee Services) Ltd is a private company limited by shares, registered in England and Wales. The address of the company's registered office is given on the Company Information page. This address is also the company's principal place of business.
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future despite the Covid-19 pandemic. For this reason the directors continue to adopt the going concern basis in preparing the annual financial statements.
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Exemption from preparing consolidated financial statements
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The Company is a parent Company that is also a subsidiary included in the consolidated financial statements of its immediate parent undertaking established under the law of an EEA state and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
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PI CONSULTING (TRUSTEE SERVICES) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
2.Accounting policies (continued)
Investments in subsidiaries are measured at cost less accumulated impairment.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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The average monthly number of employees, including directors, during the year was 4 (2019 - 4).
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Investments in subsidiary companies
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Amounts owed by group undertakings
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Prepayments and accrued income
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PI CONSULTING (TRUSTEE SERVICES) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Profit and loss account
This reserve records retained earnings and accumulated losses.
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Related party transactions
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The company has taken advantage of the exemption available under FRS 102 not to disclose transactions with the parent undertaking and those subsidiary undertakings where the group controls 100% of those companies voting rights.
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The parent undertaking of the company is Pi Partnership Limited.
The registered office of Pi Partnership Limited is 2nd Floor, Tuition House, 27-37 St George's Road, Wimbledon,
London, SW19 4EU.
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