ACCOUNTS - Final Accounts

PMP OPERATIONS LTD - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-3012021-12-01falsetrue1Holding companytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06634453 2021-12-01 2022-11-30 06634453 2020-12-01 2021-11-30 06634453 2022-11-30 06634453 2021-11-30 06634453 c:Director1 2021-12-01 2022-11-30 06634453 d:CurrentFinancialInstruments 2022-11-30 06634453 d:CurrentFinancialInstruments 2021-11-30 06634453 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 06634453 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 06634453 d:ShareCapital 2022-11-30 06634453 d:ShareCapital 2021-11-30 06634453 d:RetainedEarningsAccumulatedLosses 2022-11-30 06634453 d:RetainedEarningsAccumulatedLosses 2021-11-30 06634453 c:FRS102 2021-12-01 2022-11-30 06634453 c:AuditExemptWithAccountantsReport 2021-12-01 2022-11-30 06634453 c:FullAccounts 2021-12-01 2022-11-30 06634453 c:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 06634453 6 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure

Registered number: 06634453

PMP OPERATIONS LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2022

PMP OPERATIONS LTD

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFPMP OPERATIONS LTD
FOR THE YEAR ENDED 30 NOVEMBER 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PMP Operations Ltd for the year ended 30 November 2022 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.

This report is made solely to the director of PMP Operations Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of PMP Operations Ltd and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PMP Operations Ltd and its director for our work or for this report.

It is your duty to ensure that PMP Operations Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that PMP Operations Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of PMP Operations Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Shipleys Tax Planning

27 November 2023

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PMP OPERATIONS LTD

REGISTERED NUMBER: 06634453

BALANCE SHEET

AS AT 30 NOVEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Investments	4		535,000		535,000
			535,000		535,000

Creditors: amounts falling due within one year	5	(346,464)		(353,898)
Net current liabilities			(346,464)		(353,898)
Total assets less current liabilities			188,536		181,102

Net assets			188,536		181,102

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	187,536	180,102
	188,536	181,102

The director considers 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 director acknowledges his 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 comprehensive income 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 on 27 November 2023.

P Patel

Director

The notes on pages 3 to 5 form part of these financial statements.

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PMP OPERATIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

1.	General information

PMP Operations Ltd is a company domiciled in England & Wales, registration number 06634453. The registered office is 253 Whitechapel Road, London, E1 1DB.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.3

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.5

Creditors

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.

2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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PMP OPERATIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

2.6

Financial instruments (continued)

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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PMP OPERATIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 December 2021	535,000
	At 30 November 2022	535,000

5.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Amounts owed to group undertakings	173,461	98,299
Corporation tax	9,525	7,343
Other creditors	159,373	242,631
Accruals and deferred income	4,105	5,625
	346,464	353,898

6.	Related party transactions
	During the year the subsidiary company A R Parmar Ltd loaned the company £75,162 (2021: £23,437). At the balance sheet date other creditors included £173,461 (2021: £98,299) as amounts owed to A R Parmar Ltd. During the year the company repaid the director £83,258 (2021: £17,781). At the balance sheet date other creditors included £159,373 (2021: £242,631) as amounts owed to the director.

7.	Controlling party

The company is ultimately controlled by Mr P Patel.

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