PCS Cheltenham Limited Filleted accounts for Companies House (small and micro)

PCS CHELTENHAM LIMITED - Company Information

1 false false false false false false false false false true false false false false false false No description of principal activity 2021-10-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03625280 2021-10-01 2022-09-30 03625280 2022-09-30 03625280 2021-09-30 03625280 2020-10-01 2021-09-30 03625280 2021-09-30 03625280 bus:Director1 2021-10-01 2022-09-30 03625280 core:LandBuildings core:OwnedOrFreeholdAssets 2021-09-30 03625280 core:FurnitureFittings 2021-09-30 03625280 core:MotorVehicles 2021-09-30 03625280 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 03625280 core:FurnitureFittings 2022-09-30 03625280 core:MotorVehicles 2022-09-30 03625280 core:FurnitureFittings 2021-10-01 2022-09-30 03625280 core:MotorVehicles 2021-10-01 2022-09-30 03625280 core:WithinOneYear 2022-09-30 03625280 core:WithinOneYear 2021-09-30 03625280 core:AfterOneYear 2022-09-30 03625280 core:AfterOneYear 2021-09-30 03625280 core:ShareCapital 2022-09-30 03625280 core:ShareCapital 2021-09-30 03625280 core:RetainedEarningsAccumulatedLosses 2022-09-30 03625280 core:RetainedEarningsAccumulatedLosses 2021-09-30 03625280 core:LandBuildings core:OwnedOrFreeholdAssets 2021-09-30 03625280 core:FurnitureFittings 2021-09-30 03625280 core:MotorVehicles 2021-09-30 03625280 bus:SmallEntities 2021-10-01 2022-09-30 03625280 bus:AuditExemptWithAccountantsReport 2021-10-01 2022-09-30 03625280 bus:FullAccounts 2021-10-01 2022-09-30 03625280 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 03625280 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30

COMPANY REGISTRATION NUMBER: 03625280

PCS Cheltenham Limited

Filleted Unaudited Financial Statements

30 September 2022

PCS Cheltenham Limited

Financial Statements

Year ended 30 September 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

PCS Cheltenham Limited

Statement of Financial Position

30 September 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		574,110	578,667

Current assets

Debtors	6	1,008,467	1,005,782
Cash at bank and in hand		47,631	40,001
		------------	------------
		1,056,098	1,045,783

Creditors: amounts falling due within one year	7	47,971		29,936
		------------		------------
Net current assets			1,008,127	1,015,847
			------------	------------
Total assets less current liabilities			1,582,237	1,594,514

Creditors: amounts falling due after more than one year	8	300,000	300,000
		------------	------------
Net assets		1,282,237	1,294,514
		------------	------------

PCS Cheltenham Limited

Statement of Financial Position (continued)

30 September 2022

	2022		2021
Note	£	£	£

Capital and reserves

Called up share capital	620	620
Profit and loss account	1,281,617	1,293,894
	------------	------------
Shareholders funds	1,282,237	1,294,514
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The 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 Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 January 2023 , and are signed on behalf of the board by:

M Preston
Director

Company registration number: 03625280

PCS Cheltenham Limited

Notes to the Financial Statements

Year ended 30 September 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Staverton, Cheltenham, GL51 6TQ, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of the investment property measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the gross rent receivable for the year and the fair value of the consideration receivable for goods and services rendered.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Furniture, fixtures and equipment	-	25% per annum of reducing balance
Motor vehicle	-	25% per annum of reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment properties

Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment properties are revalued at each reporting date and any changes in fair value are recognised in profit and loss.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).

5. Tangible assets

	Investment properties	Furniture, fixtures and equipment	Motor vehicle	Total
	£	£	£	£
Cost or valuation
At 1 October 2021	554,871	26,333	10,700	591,904
Additions	–	1,714	–	1,714
	---------	--------	--------	---------
At 30 September 2022	554,871	28,047	10,700	593,618
	---------	--------	--------	---------
Depreciation
At 1 October 2021	–	2,819	10,418	13,237
Charge for the year	–	6,200	71	6,271
	---------	--------	--------	---------
At 30 September 2022	–	9,019	10,489	19,508
	---------	--------	--------	---------
Carrying amount
At 30 September 2022	554,871	19,028	211	574,110
	---------	--------	--------	---------
At 30 September 2021	554,871	23,514	282	578,667
	---------	--------	--------	---------

Tangible assets held at valuation

The investment properties were revalued on the basis of open market value.

6. Debtors

	2022	2021
	£	£
Trade debtors	1,870	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,005,000	1,005,000
Other debtors	1,597	782
	------------	------------
	1,008,467	1,005,782
	------------	------------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	616	527
Other creditors	47,355	29,409
	--------	--------
	47,971	29,936
	--------	--------

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Other creditors	300,000	300,000
	---------	---------

9. Related party transactions

At the reporting date an amount of £32,221 (2021 - £14,272) was owed by the company to the director in respect of his current account with the company. No interest has been charged on this account. At the reporting date an amount of £300,000 (2021 - £300,000) was owed by the company to the director in respect of his loan account with the company. Interest at the rate of 7% per annum is being charged on this account. The interest charged in the year was £21,000 (2021 - £11,311). The amount of interest unpaid at the reporting date was £10,529 (2021 - £11,311).

10. Controlling party

The ultimate parent company is Tanswell Limited, a company registered in England and Wales, and whose registered office address is Midway House, Staverton Technology Park, Herrick Way, Staverton, Cheltenham, GL51 6TQ.