REGISTERED NUMBER: |
PRIME UK PROPERTIES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
REGISTERED NUMBER: |
PRIME UK PROPERTIES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
PRIME UK PROPERTIES LIMITED (REGISTERED NUMBER: 04979842) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
PRIME UK PROPERTIES LIMITED (REGISTERED NUMBER: 04979842) |
BALANCE SHEET |
30TH SEPTEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PRIME UK PROPERTIES LIMITED (REGISTERED NUMBER: 04979842) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
1. | STATUTORY INFORMATION |
Prime Uk Properties Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis. |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty. |
Turnover |
Turnover represents amounts receivable in respect of services provided during the year, excluding value added tax. |
Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
PRIME UK PROPERTIES LIMITED (REGISTERED NUMBER: 04979842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Fixed asset investment |
Investments held as fixed assets are stated at cost less any provision for impairment. Where the recoverable amount of the investment is less than the carrying amount, an impairment is recognised. Any gains or losses on disposals are recognised in the profit and loss account. |
Current asset investments |
The current asset investments are stated at lower of cost and net realisable value and any gains or losses on disposals are recognised in the profit and loss account. |
3. | AVERAGE NUMBER OF EMPLOYEES |
The average number of employees during the year was NIL (2021 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1st October 2021 | 1,880,631 |
Disposals | ( |
) | ( |
) | (1,760,031 | ) |
At 30th September 2022 | 120,600 |
NET BOOK VALUE |
At 30th September 2022 | 120,600 |
At 30th September 2021 | 1,880,631 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Taxation and social security |
Other creditors |
PRIME UK PROPERTIES LIMITED (REGISTERED NUMBER: 04979842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
7. | RELATED PARTY DISCLOSURES |
Anup Shah |
Director and a shareholder. |
During the year the company repaid £200,000 to the director. At the balance sheet date the amount outstanding was Nil (2021: £200,000). |
L Pinkney |
Director and a shareholder. |
During the year the company repaid £200,000 to the director. At the balance sheet date the amount outstanding was Nil (2021: £200,000). |
Market Tavern Stroud Limited |
L Pinkney is a director of the related party. |
At the balance sheet date a loan in the sum of £321,243 (2021: £321,243) was receivable from this company. |
Setminds Limited |
L Pinkney is a director of the related party. |
At the balance sheet date a loan in the sum of £270,000 (2021: £270,000) was receivable from this company. |