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Prious Limited |
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Financial Statements |
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for the Year Ended 31 December 2016 |
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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 2016 |
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Prious Limited (Registered number: 02863609) |
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Contents of the Financial Statements |
for the year ended 31 December 2016 |
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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 2016 |
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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 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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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 |
6 |
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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 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | 8 |
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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 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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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Investments in subsidiaries and associates |
Investments in subsidiary undertakings are included at cost less any provision for impairment. |
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Investments in associated undertakings have been accounted for at their fair value. |
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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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2. | 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 2016 |
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3. | FIXED ASSET INVESTMENTS |
Share in | Share in |
subsidiary | associated |
undertakings | undertaking | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
and 31 December 2016 |
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3,181,877 |
PROVISIONS |
At 1 January 2016 |
and 31 December 2016 | 459,164 | - | 459,164 |
NET BOOK VALUE |
At 31 December 2016 |
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2,722,713 |
At 31 December 2015 |
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2,722,713 |
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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% |
Holding
company |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Amounts owed by related undertakings | 553,613 | 568,540 |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors | ( |
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Amounts owed to related undertakings | 113,344 | 64,134 |
Tax |
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Other creditors |
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Directors' current account | 159,413 | 166,602 |
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 2016 |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2016 | 2015 |
£ | £ |
Amounts owed to group undertakings |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 | 300 | 300 |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2016 |
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Profit for the year |
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At 31 December 2016 |
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9. | 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 £553,613 (2015: £568,540) and owed £113,344 (2015: |
£64,134) to companies in which Mr N Smillie is also a director and shareholder. |