PPH Commercial Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08959362 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

PPH Commercial Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N W Pearce

B N Medhurst

REGISTERED OFFICE:

First Floor Pavilion House

Unit 5 Hesslewood Office Park

Ferriby Road

Hessle

East Yorkshire

HU13 0LG

REGISTERED NUMBER:

08959362 (England and Wales)

ACCOUNTANTS:

Harris Lacey and Swain

Suite 1

The Riverside Building

Hessle

East Yorkshire

HU13 0DZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

36,807

41,917

36,807

41,917

CURRENT ASSETS

Debtors

6

315,187

785,174

Cash at bank and in hand

588,967

512,507

904,154

1,297,681

CREDITORS

Amounts falling due within one year

7

438,140

531,398

NET CURRENT ASSETS

466,014

766,283

TOTAL ASSETS LESS CURRENT LIABILITIES

502,821

808,200

PROVISIONS FOR LIABILITIES

8

9,202

10,479

NET ASSETS

493,619

797,721

CAPITAL AND RESERVES

Called up share capital

308

308

Retained earnings

493,311

797,413

SHAREHOLDERS' FUNDS

493,619

797,721

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 and authorised for issue on 24 August 2023 and were signed on its behalf by:

N W Pearce - Director

B N Medhurst - Director

1.	STATUTORY INFORMATION

PPH Commercial 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.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors' best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on reducing balance

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

1,369,000

AMORTISATION

At 1 April 2022

and 31 March 2023

1,369,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2022

-

32,850

23,689

56,539

Additions

5,802

-

5,942

11,744

At 31 March 2023

5,802

32,850

29,631

68,283

DEPRECIATION

At 1 April 2022

-

6,570

8,052

14,622

Charge for year

1,934

5,257

9,663

16,854

At 31 March 2023

1,934

11,827

17,715

31,476

NET BOOK VALUE

At 31 March 2023

3,868

21,023

11,916

36,807

At 31 March 2022

-

26,280

15,637

41,917

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

266,671

755,201

Other debtors

48,516

29,973

315,187

785,174

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

38,017

39,227

Taxation and social security

226,911

319,773

Other creditors

173,212

172,398

438,140

531,398

8.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

9,202

10,479

Deferred

tax

£

Balance at 1 April 2022

10,479

Provided during year

(1,277

)

Balance at 31 March 2023

9,202

9.	RELATED PARTY DISCLOSURES

Included in other creditors are directors' current account balances of £2,000 (2022: £1,965).