Company Registration No. 03585025 (England and Wales)
PPG Group Limited
Unaudited accounts
for the period from 29 December 2020 to 31 December 2021
PPG Group Limited
Unaudited accounts
Contents
PPG Group Limited
Company Information
for the period from 29 December 2020 to 31 December 2021
Company Number
03585025 (England and Wales)
Registered Office
85 Great Portland Street
First Floor
London
W1W 7LT
Accountants
The Practice - Chartered Management Accountants
2 New Street
Ledbury
Herefordshire
HR8 2DX
PPG Group Limited
Statement of financial position
as at
31 December 2021
Tangible assets
1,460
4,174
Investment property
585,469
750,000
Cash at bank and in hand
(15)
5,859
Creditors: amounts falling due within one year
(123,774)
(89,855)
Net current liabilities
(113,289)
(73,496)
Total assets less current liabilities
473,741
680,779
Creditors: amounts falling due after more than one year
(450,000)
(277,943)
Provisions for liabilities
Other provisions
(10,500)
-
Net assets
12,963
402,043
Called up share capital
100
100
Profit and loss account
12,863
401,943
Shareholders' funds
12,963
402,043
For the period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 July 2022 and were signed on its behalf by
Diarmuid Foghlu
Director
Company Registration No. 03585025
PPG Group Limited
Notes to the Accounts
for the period from 29 December 2020 to 31 December 2021
PPG Group Limited is a private company, limited by shares, registered in England and Wales, registration number 03585025. The registered office is 85 Great Portland Street, First Floor, London, W1W 7LT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the period from 29 December 2020 to 31 December 2021 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 29 December 2019.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% Reducing Balance
PPG Group Limited
Notes to the Accounts
for the period from 29 December 2020 to 31 December 2021
4
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
At 29 December 2020
130,813
At 31 December 2021
65,406
At 29 December 2020
126,639
Charge for the period
626
At 31 December 2021
63,946
At 31 December 2021
1,460
At 28 December 2020
4,174
5
Investment property
2021
Fair value at 29 December 2020
750,000
Net gain from fair value adjustments
136,670
At 31 December 2021
585,469
6
Investments
Other investments
Valuation at 29 December 2020
101
Valuation at 31 December 2021
101
7
Debtors: amounts falling due within one year
2021
2020
Trade debtors
10,500
10,500
8
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
-
40,668
Trade creditors
81,771
17,088
Taxes and social security
20,165
24,708
Loans from directors
20,038
5,591
PPG Group Limited
Notes to the Accounts
for the period from 29 December 2020 to 31 December 2021
9
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
450,000
277,943
10
Average number of employees
During the period the average number of employees was 1 (2020: 1).