Company Registration No. 13030798 (England and Wales)
P1 Worsfold Limited
Unaudited accounts
for the period from 19 November 2020 to 30 March 2022
P1 Worsfold Limited
Unaudited accounts
Contents
P1 Worsfold Limited
Company Information
for the period from 19 November 2020 to 30 March 2022
Directors
C Burrows
B Worsfold
Company Number
13030798 (England and Wales)
Registered Office
47A Broadgates
Market Place
Henley-On-Thames
RG9 2AD
England
Accountants
Balmoral Consultancy Services Limited
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
P1 Worsfold Limited
Statement of financial position
as at 30 March 2022
Cash at bank and in hand
1,000,002
Creditors: amounts falling due within one year
(8,309,894)
Net current assets
1,001,393
Profit and loss account
1,001,391
Shareholders' funds
1,001,393
For the period ending 30 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 July 2022 and were signed on its behalf by
B Worsfold
Director
Company Registration No. 13030798
P1 Worsfold Limited
Notes to the Accounts
for the period from 19 November 2020 to 30 March 2022
P1 Worsfold Limited is a private company, limited by shares, registered in England and Wales, registration number 13030798. The registered office is 47A Broadgates, Market Place, Henley-On-Thames, RG9 2AD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
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.
4
Debtors: amounts falling due within one year
2022
5
Creditors: amounts falling due within one year
2022
Taxes and social security
234,894
Loans from directors
8,000,000
P1 Worsfold Limited
Notes to the Accounts
for the period from 19 November 2020 to 30 March 2022
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
Shares issued during the period:
2 Ordinary shares of £1 each
2
7
Transactions with related parties
As at the Balance Sheet date, the company owed the sum of £8,000,000 to Mr B Worsfold, who is director and shareholder of the company.
As at the Balance Sheet date, the sum of £7,614,027 was owed to P1 Worsfold Limited by P1 Capital Limited. Mr C Burrows who is director of P1 Worsfold Limited is also a director of P1 Capital Limited and owns 100% of the share capital of P1 Capital Limited.
During the period under review, the company was under control of Mr B Worsfold and his wife Mrs T Worsfold, by virtue of the combined 100% shareholding in the company.
9
Average number of employees
During the period the average number of employees was 0.
