REGISTERED NUMBER:
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Prious Limited |
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Financial Statements |
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for the Year Ended 31 December 2015 |
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REGISTERED NUMBER:
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Prious Limited |
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Financial Statements |
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for the Year Ended 31 December 2015 |
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Prious Limited (Registered number: 02863609) |
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Contents of the Financial Statements |
for the year ended 31 December 2015 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Prious Limited |
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Company Information |
for the year ended 31 December 2015 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
33 George Street |
Wakefield |
West Yorkshire |
WF1 1LX |
Prious Limited (Registered number: 02863609) |
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Statement of Financial Position |
31 December 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors: amounts falling due within one year | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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Prious Limited (Registered number: 02863609) |
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Statement of Financial Position - continued |
31 December 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Prious Limited (Registered number: 02863609) |
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Notes to the Financial Statements |
for the year ended 31 December 2015 |
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1. | STATUTORY INFORMATION |
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Prious Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The preparation in accordance with the provisions of Section 1A of FRS 102 represents an early adoption of that |
section of the standard. |
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This is the first year that the company has presented its results under FRS 102. The last financial statements |
prepared and submitted to Companies House under the previous UKGAAP were for the year ended 31 |
December 2014. The date of transition to FRS 102 was 1 January 2014 and there were no adjustments arising as |
a result of the transition from the previous UKGAAP to FRS 102. |
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Preparation of consolidated financial statements |
The financial statements contain information about Prious Limited as an individual company and do not contain |
consolidated financial information as the parent of a group. The company has taken the option under Section 398 |
of the Companies Act 2006 not to prepare consolidated financial statements. |
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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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Investments |
Investments in subsidiary undertakings are included at cost less amounts written off. |
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Investments in associated undertakings have been accounted for at their fair value. This represents a change in |
accounting policy however the director has elected not to put through a prior period adjustment on the grounds |
that the market value as at 31 December 2014 was not readily available. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Prious Limited (Registered number: 02863609) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2015 |
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4. | FIXED ASSET INVESTMENTS |
Share in | Share in |
subsidiary | associated |
undertakings | undertaking | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2015 |
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1,369,291 |
Revaluations |
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1,812,586 |
At 31 December 2015 |
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3,181,877 |
PROVISIONS |
At 1 January 2015 |
and 31 December 2015 | 459,164 | - | 459,164 |
NET BOOK VALUE |
At 31 December 2015 |
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2,722,713 |
At 31 December 2014 |
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910,127 |
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The share in associated undertaking has been included at fair value as determined by the Independent Valuation |
prepared by Forensic Accounting Solutions Limited on 24 November 2015. |
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Name | Country of | Class of | Percentage | Nature of |
incorporation | shares | held | business |
Prious One Limited | UK | Ordinary £1 | 100% | Dormant |
Prious Two Limited | UK | Ordinary £1 | 100% | Dormant |
Prious Three Limited | UK | Ordinary £1 | 100% | Dormant |
Prious Four Limited | UK | Ordinary £1 | 100% | Dormant |
TJA Motors Limited |
UK |
Ordinary £1 |
22.32% |
Ford main
dealership |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2015 | 2014 |
£ | £ |
Amounts owed by related undertakings | 568,540 | 637,701 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2015 | 2014 |
£ | £ |
Trade creditors |
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Amounts owed to related undertakings | 64,134 | 53,515 |
Tax |
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Other creditors |
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Amounts owed to participating interests | - | 125,305 |
Directors' current account | 166,602 | 93,790 |
Accruals and deferred income |
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Prious Limited (Registered number: 02863609) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2015 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2015 | 2014 |
£ | £ |
Amounts owed to group undertakings |
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8. | RELATED PARTY DISCLOSURES |
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The company was under the control of Mr N Smillie throughout the current and previous year. |
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As at the balance sheet date the company was owed £NIL (2014: £159,182) by Mitis Limited and £568,540 |
(2014: £478,519) by CHR Estates limited and the company owed £58,515 (2014: £53,515) to Eastco Limited, all |
being companies in which Mr N Smillie is also a director and shareholder. |
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9. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its results under FRS 102. The last financial statements |
under previous UK GAAP were for the year ended 31 December 2014. The date of transition to FRS 102 was 1 |
January 2014. There has been no effect on the restated figures from the changes in accounting policies. |
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