Principality Ventures Limited |
Registered Number:03332046 |
For the year ended 30 September 2023
England and Wales
Unaudited Financial Statements
For the year ended 30 September 2023
Principality Ventures Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Principality Ventures Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
463,084
473,407
2
463,084
473,407
1,910,718
3,036,314
3
Trade and other receivables |
39,944
16,094
4
13,423
Cash and cash equivalents |
2,194
3,054,602
1,964,085
Trade and other payables: amounts falling due within one |
year |
(2,387,040)
(3,551,020)
5
(422,955)
(496,418)
Net current liabilities
Total assets less current liabilities |
(33,334)
50,452
Trade and other payables: amounts falling due after more |
than one year |
(39,964)
(158,124)
6
(191,458)
Net assets/liabilities
10,488
100
100
(191,558)
10,388
(191,458)
10,488
Shareholders' funds
For the year ended 30 September 2023 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 of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Michael Robert Haywood Director |
These financial statements were approved and authorised for issue by the Board on 04 December 2023 and were signed by: |
The notes form part of these financial statements |
1 of 3
For the year ended 30 September 2023
Principality Ventures Limited
Notes to the Financial Statements
Statutory Information
Principality Ventures Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 03332046. |
72 Dunstall Road
Halesowen
West Midlands
B63 1BE
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
2. Property, plant and equipment |
474,015
1,839
472,176
1,200
1,200
-
(1,529)
(10,000)
(11,529)
462,176
1,510
463,686
Provision for depreciation and impairment |
608
608
-
Charge for year
499
499
-
(505)
(505)
-
602
602
-
462,176
908
463,084
472,176
1,231
473,407
2 of 3
For the year ended 30 September 2023
Principality Ventures Limited
Notes to the Financial Statements Continued
2022
2023
3,036,314
1,910,718
4. Trade and other receivables |
2022
2023
16,094
39,944
The debtors above include the following amounts falling due after more than one year: |
7,643
7,643
5. Trade and other payables: amounts falling due within one year |
2022
2023
Bank loans and overdraft (secured) |
2,522,855
1,614,939
315,109
225,659
Taxation and social security |
7,687
16,877
705,369
529,565
3,551,020
2,387,040
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
45,518
-
22,606
39,964
90,000
-
158,124
39,964
7. Average number of persons employed |
During the year the average number of employees was 2 (2022 : 2)
3 of 3