ACCOUNTS - Final Accounts preparation

PPR WHYTECLIFFE PURLEY LIMITED - Company Information

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Registered number: 11912110

PPR WHYTECLIFFE PURLEY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2020

PPR WHYTECLIFFE PURLEY LIMITED

REGISTERED NUMBER: 11912110

BALANCE SHEET

AS AT 31 MARCH 2020

		2020
		£


Current assets
Debtors: amounts falling due within one year	4	30
Cash at bank and in hand	5	495,795
		495,825
Creditors: amounts falling due within one year	6	(356,772)
Net current assets			139,053
Total assets less current liabilities			139,053

Net assets			139,053

Capital and reserves
Called up share capital	7	30
Profit and loss account		139,023
		139,053

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PPR WHYTECLIFFE PURLEY LIMITED

REGISTERED NUMBER: 11912110

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2020

The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 income and retained earnings 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 by:

N Hopkinson

Director

Date: 2 November 2020

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

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PPR WHYTECLIFFE PURLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

1.	General information

PPR Whytecliffe Purley Limited is a private company limited by shares. The Company is incorporated in England and Wales and its registered address is 55 Baker Street, London, W1U 8AN. The registration number is 11912110.

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 following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3

Finance costs

Finance costs are charged to the Statement of income and retained earnings 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.

2.4

Taxation

Tax is recognised in the Statement of income and retained earnings, 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.

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PPR WHYTECLIFFE PURLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

2.Accounting policies (continued)

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

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.

2.7

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.

Employees

The average monthly number of employees, including directors, during the period was 3.

Debtors

					2020
					£


	Called up share capital not paid	30
		30

5.	Cash and cash equivalents
		2020
		£

	Cash at bank and in hand	495,795
		495,795

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PPR WHYTECLIFFE PURLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

6.	Creditors: Amounts falling due within one year
		2020
		£

	Trade creditors	6,859
	Corporation tax	32,610
	Other creditors	128,997
	Accruals and deferred income	188,306
		356,772

7.	Share capital
		2020
		£

		Allotted, called up and fully paid

		3,000 Ordinary shares of £0.01 each	30

During the period, 3,000 £0.01 Ordinary shares were issued at par.

8.	Related party transactions
	Included in other creditors, is £128,997 owed from PPR Estates Limited a company under common control. This loan is unsecured, interest free and repayable on demand.

9.	Controlling party

The ultimate controlling party is J Caplan by virtue of his majority shareholding.

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