Public Loss Adjusting Group Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04367706 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Public Loss Adjusting Group Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Mulligan

P Goth

REGISTERED OFFICE:

Unit 3 Blackpool Trade Park

Preston New Road

Blackpool

FY4 4QX

REGISTERED NUMBER:

04367706 (England and Wales)

ACCOUNTANTS:

Nathans

Chartered Certified Accountants

Trident Business Centre

Amy Johnson Way

Blackpool

Lancashire

FY4 2RP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

-

3,548

Investments

6

-

4,000

-

7,548

CURRENT ASSETS

Debtors

7

97,464

339,717

Cash at bank

20,384

116,584

117,848

456,301

CREDITORS

Amounts falling due within one year

8

(12,810

)

(364,778

)

NET CURRENT ASSETS

105,038

91,523

TOTAL ASSETS LESS CURRENT LIABILITIES

105,038

99,071

CREDITORS

Amounts falling due after more than one year

9

(25,355

)

(44,151

)

NET ASSETS

79,683

54,920

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

69,683

44,920

SHAREHOLDERS' FUNDS

79,683

54,920

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 12 May 2023 and were signed on its behalf by:

A J Mulligan - Director

1.	STATUTORY INFORMATION

Public Loss Adjusting Group Ltd 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.

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 2008, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 5 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

10,000

AMORTISATION

At 1 April 2022

and 31 March 2023

10,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2022

46,907

13,000

84,258

144,165

Disposals

(46,907

)

(13,000

)

-

(59,907

)

At 31 March 2023

-

-

84,258

84,258

DEPRECIATION

At 1 April 2022

44,336

12,023

84,258

140,617

Eliminated on disposal

(56,359

)

-

-

(56,359

)

At 31 March 2023

(12,023

)

12,023

84,258

84,258

NET BOOK VALUE

At 31 March 2023

12,023

(12,023

)

-

-

At 31 March 2022

2,571

977

-

3,548

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2022

4,000

Disposals

(4,000

)

At 31 March 2023

-

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

4,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

29,841

328,902

Other debtors

67,623

10,815

97,464

339,717

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

9,398

-

Trade creditors

11,936

190,763

Taxation and social security

(8,524

)

16,268

Other creditors

-

157,747

12,810

364,778

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

25,355

44,151

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

A J Mulligan

Balance outstanding at start of year

-

-

Amounts advanced

50,000

-

Amounts repaid

(5,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

45,000

-

11.	ULTIMATE CONTROLLING PARTY

The controlling party is PLA Group Holdings Ltd.

The ultimate controlling party is A J Mulligan.