REGISTERED NUMBER:
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PP Leisure Holdings PLC |
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Strategic Report, Directors' Report and |
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Financial Statements |
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for the Year Ended 30 November 2019 |
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REGISTERED NUMBER:
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PP Leisure Holdings PLC |
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Strategic Report, Directors' Report and |
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Financial Statements |
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for the Year Ended 30 November 2019 |
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PP Leisure Holdings PLC (Registered number: 03700292) |
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Contents of the Financial Statements |
for the Year Ended 30 November 2019 |
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Page |
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Company information | 1 |
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Strategic report | 2 |
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Directors' report | 3 |
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Report of the independent auditors | 4 |
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Statement of income and retained earnings | 7 |
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Statement of financial position | 8 |
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Statement of cash flows | 9 |
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Notes to the statement of cash flows | 10 |
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Notes to the financial statements | 11 |
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PP Leisure Holdings PLC |
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Company Information |
for the Year Ended 30 November 2019 |
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Directors: |
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Secretary: |
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Registered office: |
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Business address: |
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Registered number: |
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Auditors: |
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Monica House |
St Augustines Road |
Wisbech |
Cambridgeshire |
PE13 3AD |
PP Leisure Holdings PLC (Registered number: 03700292) |
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Strategic Report |
for the Year Ended 30 November 2019 |
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The directors present their strategic report for the year ended 30 November 2019. |
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Review of business |
The directors have continued to look for opportunities for the company and will continue to do so. |
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Principal risks and uncertainties |
The principal risk of the business is the lack of business opportunities to invest in. |
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Objectives and policies |
The business' principal financial instruments comprise bank account, other debtors, trade creditors and |
directors' loan to the business. |
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Price, credit risk, liquidity risk and cash flow risk |
In respect of bank balances, the liquidity risk is managed via the directors and a related loan. |
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Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. |
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Loans comprise loans from the directors. The directors have given their support to the business by agreeing |
that the fund will not be withdrawn in the next twelve months. |
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On behalf of the board: |
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PP Leisure Holdings PLC (Registered number: 03700292) |
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Directors' Report |
for the Year Ended 30 November 2019 |
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The directors present their report with the financial statements of the company for the year ended 30 November 2019. |
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Dividends |
No dividends will be distributed for the year ended 30 November 2019. |
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Directors |
The directors shown below have held office during the whole of the period from 1 December 2018 to the date |
of this report. |
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Statement of directors' responsibilities |
The directors are responsible for preparing the Strategic report, the Directors' report and the financial |
statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law |
the directors have elected to prepare the financial statements in accordance with United Kingdom Generally |
Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied |
that they give a true and fair view of the state of affairs of the company and of the profit or loss of the |
company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and |
explain the company's transactions and disclose with reasonable accuracy at any time the financial position |
of the company and enable them to ensure that the financial statements comply with the Companies Act |
2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable |
steps for the prevention and detection of fraud and other irregularities. |
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Statement as to disclosure of information to auditors |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the |
Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the |
steps that he ought to have taken as a director in order to make himself aware of any relevant audit |
information and to establish that the company's auditors are aware of that information. |
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Auditors |
The auditors, Moore Thompson, will be proposed for re-appointment at the forthcoming Annual General |
Meeting. |
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On behalf of the board: |
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Report of the Independent Auditors to the Members of |
PP Leisure Holdings PLC |
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Opinion |
We have audited the financial statements of PP Leisure Holdings PLC (the 'company') for the year ended |
30 November 2019 which comprise the Statement of income and retained earnings, Statement of financial |
position, Statement of cash flows and Notes to the statement of cash flows, Notes to the financial |
statements, including a summary of significant accounting policies. The financial reporting framework that |
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland' (United Kingdom Generally Accepted Accounting Practice). |
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In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 30 November 2019 and of its loss for
the year then ended; |
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and |
applicable law. Our responsibilities under those standards are further described in the Auditors' |
responsibilities for the audit of the financial statements section of our report. We are independent of the |
company in accordance with the ethical requirements that are relevant to our audit of the financial statements |
in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in |
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and |
appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to |
report to you where: |
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the directors' use of the going concern basis of accounting in the preparation of the financial statements is
not appropriate; or |
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the directors have not disclosed in the financial statements any identified material uncertainties that may
cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
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Emphasis of matter |
In forming our opinion we have considered the adequacy of the disclosure made in note 3 to the Financial |
Statements concerning the company's ability to continue as a going concern. |
At 30 November 2019 the company's liabilities exceeded its assets by £127,542. These conditions, along |
with the lack of appropriate evidence with respect to K I Tatam's ability to continue to provide financial |
support to the company, indicate the existence of material uncertainty which may cause significant doubt |
upon the company's ability to continue as a going concern. |
The Financial Statements do not include any adjustments that would result if the company was unable to |
continue as a going concern. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in |
the Strategic report and the Directors' report, but does not include the financial statements and our Report of |
the auditors thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the extent |
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information and, |
in doing so, consider whether the other information is materially inconsistent with the financial statements or |
our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such |
material inconsistencies or apparent material misstatements, we are required to determine whether there is a |
material misstatement in the financial statements or a material misstatement of the other information. If, |
based on the work we have performed, we conclude that there is a material misstatement of this other |
information, we are required to report that fact. We have nothing to report in this regard. |
Report of the Independent Auditors to the Members of |
PP Leisure Holdings PLC |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
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the information given in the Strategic report and the Directors' report for the financial year for which the
financial statements are prepared is consistent with the financial statements; and |
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the Strategic report and the Directors' report have been prepared in accordance with applicable legal
requirements. |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course |
of the audit, we have not identified material misstatements in the Strategic report or the Directors' report. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to |
report to you if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
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Responsibilities of directors |
As explained more fully in the Statement of directors' responsibilities set out on page three, the directors are |
responsible for the preparation of the financial statements and for being satisfied that they give a true and fair |
view, and for such internal control as the directors determine necessary to enable the preparation of financial |
statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to |
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going |
concern basis of accounting unless the directors either intend to liquidate the company or to cease |
operations, or have no realistic alternative but to do so. |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are |
free from material misstatement, whether due to fraud or error, and to issue a Report of the auditors that |
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit |
conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. |
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, |
they could reasonably be expected to influence the economic decisions of users taken on the basis of these |
financial statements. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial |
Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our |
Report of the auditors. |
Report of the Independent Auditors to the Members of |
PP Leisure Holdings PLC |
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Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of |
the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's |
members those matters we are required to state to them in a Report of the auditors and for no other purpose. |
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the |
company and the company's members as a body, for our audit work, for this report, or for the opinions we |
have formed. |
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for and on behalf of
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Monica House |
St Augustines Road |
Wisbech |
Cambridgeshire |
PE13 3AD |
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PP Leisure Holdings PLC (Registered number: 03700292) |
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Statement of Income and Retained Earnings |
for the Year Ended 30 November 2019 |
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Period |
1.6.17 |
Year Ended | to |
30.11.19 | 30.11.18 |
Notes | £ | £ |
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Turnover |
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Administrative expenses |
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(628 | ) | (755 | ) |
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Other operating income |
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Operating loss and |
Loss before taxation | ( |
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Tax on loss | 6 |
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Loss for the financial year | ( |
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Retained earnings at beginning of year | ( |
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Retained earnings at end of year | ( |
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PP Leisure Holdings PLC (Registered number: 03700292) |
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Statement of Financial Position |
30 November 2019 |
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2019 | 2018 |
Notes | £ | £ |
Current assets |
Debtors | 7 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 8 |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Capital and reserves |
Called up share capital | 9 |
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Share premium | 10 |
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Retained earnings | 10 | ( |
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Shareholders' funds | ( |
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The financial statements were approved by the Board of Directors and authorised for issue on
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PP Leisure Holdings PLC (Registered number: 03700292) |
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Statement of Cash Flows |
for the Year Ended 30 November 2019 |
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Period |
1.6.17 |
Year Ended | to |
30.11.19 | 30.11.18 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | ( |
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Net cash from operating activities | ( |
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Cash flows from financing activities |
Amount introduced by directors | 1,505 | 5,376 |
Net cash from financing activities |
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(Decrease)/increase in cash and cash equivalents | ( |
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Cash and cash equivalents at
beginning of year |
2 |
23 |
7 |
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Cash and cash equivalents at end of
year |
2 |
22 |
23 |
PP Leisure Holdings PLC (Registered number: 03700292) |
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Notes to the Statement of Cash Flows |
for the Year Ended 30 November 2019 |
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1. | Reconciliation of loss before taxation to cash generated from operations |
Period |
1.6.17 |
Year Ended | to |
30.11.19 | 30.11.18 |
£ | £ |
Loss before taxation | ( |
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Increase in trade and other debtors | ( |
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Decrease in trade and other creditors | ( |
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Cash generated from operations | ( |
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2. | Cash and cash equivalents |
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The amounts disclosed on the Statement of cash flows in respect of cash and cash equivalents are in |
respect of these Statement of financial position amounts: |
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Year ended 30 November 2019 |
30.11.19 | 1.12.18 |
£ | £ |
Cash and cash equivalents | 22 | 23 |
Period ended 30 November 2018 |
30.11.18 | 1.6.17 |
£ | £ |
Cash and cash equivalents | 23 | 7 |
PP Leisure Holdings PLC (Registered number: 03700292) |
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Notes to the Financial Statements |
for the Year Ended 30 November 2019 |
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1. | Statutory information |
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PP Leisure Holdings PLC is a private company , registered in England and Wales. The company's |
registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Statement of compliance |
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3. | Accounting policies |
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Basis of preparing the financial statements |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the statement of financial position date. |
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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. |
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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. |
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Going concern |
The Financial Statements have been prepared on a going concern basis. |
The company is reliant upon the continuing support of K I Tatam, to who the company owed £125,892 |
(2018 - £124,387) at the period end. |
The Directors consider the support will continue and have accordingly adopted the going concern |
basis as appropriate |
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4. | Employees and directors |
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There were no staff costs for the year ended 30 November 2019 nor for the period ended |
30 November 2018. |
PP Leisure Holdings PLC (Registered number: 03700292) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2019 |
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4. | Employees and directors - continued |
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Period |
1.6.17 |
Year Ended | to |
30.11.19 | 30.11.18 |
£ | £ |
Directors' remuneration |
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5. | Operating loss |
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The operating loss is stated after charging: |
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Period |
1.6.17 |
Year Ended | to |
30.11.19 | 30.11.18 |
£ | £ |
Auditors' remuneration |
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6. | Taxation |
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Analysis of the tax charge |
No liability to UK corporation tax arose for the year ended 30 November 2019 nor for the period ended |
30 November 2018. |
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7. | Debtors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
VAT |
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8. | Creditors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade creditors |
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Directors' loan accounts | 125,892 | 124,387 |
Accrued expenses |
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9. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | 0.05 | 221,375 | 221,375 |
PP Leisure Holdings PLC (Registered number: 03700292) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2019 |
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10. | Reserves |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 December 2018 | ( |
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(348,301 | ) |
Deficit for the year | ( |
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At 30 November 2019 | ( |
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(348,917 | ) |
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11. | Related party disclosures |
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12. | Ultimate controlling party |
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The company is controlled by no one party due to the individual shareholdings in the company. |