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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 2017 |
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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 2017 |
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Prious Limited (Registered number: 02863609) |
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Contents of the Financial Statements |
for the year ended 31 December 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 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 2017 |
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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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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 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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Balance Sheet - continued |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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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
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(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 2017 |
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1. | STATUTORY INFORMATION |
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Prious Limited is a
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and registered office address can be found on the Company Information page. |
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The functional and presentation currency for the company is the pound sterling (£). All financial information presented has |
been rounded to the nearest (£), unless otherwise stated. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
The directors are of the opinion that the company continues to be a going concern and have therefore adopted that basis in |
the preparation of 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 is exempt under Section 399(2A) of the |
Companies Act 2006 from the requirements 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 balance sheet 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 balance sheet 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. |
Prious Limited (Registered number: 02863609) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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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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4. | FIXED ASSET INVESTMENTS |
Share in | Share in |
subsidiary | associated |
undertakings | undertaking | Totals |
£ | £ | £ |
COST |
At 1 January 2017 |
and 31 December 2017 |
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3,181,877 |
PROVISIONS |
At 1 January 2017 |
and 31 December 2017 | 459,164 | - | 459,164 |
NET BOOK VALUE |
At 31 December 2017 |
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2,722,713 |
At 31 December 2016 |
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2,722,713 |
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The share in associated undertaking is in respect of a 22.32% shareholding in TJA Motors Limited. This has been included |
at fair value as determined by the Director after having taken the appropriate professional advice. |
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At 31 December 2017 the company held shareholdings in the following subsidiaries, all of which are incorporated in |
England & Wales and share their registered office with this company. |
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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 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by related undertakings | 553,583 | 553,613 |
Other debtors |
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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 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors | ( |
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Amounts owed to related undertakings | 138,344 | 113,344 |
Other creditors |
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Directors' current account | 226,326 | 159,413 |
Accruals and deferred income |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed to group undertakings |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 300 | 300 |
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9. | RELATED PARTY DISCLOSURES |
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The directors are of the opinion that there are no transactions which require disclosure as related party transactions under |
the provision of FRS 102 section 1A. |