REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 October 2019 |
|
for |
|
The Prime Energize Holding Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 October 2019 |
|
for |
|
The Prime Energize Holding Limited |
The Prime Energize Holding Limited (Registered number: 07800594) |
|
Contents of the Financial Statements |
for the Year Ended 31 October 2019 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
The Prime Energize Holding Limited |
|
|
Company Information |
for the Year Ended 31 October 2019 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
4th Floor |
1 Knightrider Court |
London |
EC4V 5BJ |
The Prime Energize Holding Limited (Registered number: 07800594) |
|
|
Balance Sheet |
31 October 2019 |
|
2019 | 2018 |
as restated |
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 | 7 |
|
|
Non-distributable reserve | 8 |
|
|
Other reserves | 8 |
|
|
Retained earnings | 8 |
|
( |
) |
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
The Prime Energize Holding Limited (Registered number: 07800594) |
|
|
Balance Sheet - continued |
31 October 2019 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
The Prime Energize Holding Limited (Registered number: 07800594) |
|
|
Notes to the Financial Statements |
for the Year Ended 31 October 2019 |
|
|
1. | STATUTORY INFORMATION |
|
The Prime Energize Holding Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
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. |
|
Fixed asset investments |
Fixed asset investments are shareholdings in four companies. The investments are revalued to reflect the values as per the financial results of the companies and reported on the balance sheet accordingly. Any surplus or temporary deficit on revaluations are transferred to a non-distributable reserve. Any permanent deficit on revaluations are charged to the Profit and Loss Account. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2018 - NIL). |
|
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 November 2018 |
|
Additions |
|
At 31 October 2019 |
|
NET BOOK VALUE |
At 31 October 2019 |
|
At 31 October 2018 |
|
The Prime Energize Holding Limited (Registered number: 07800594) |
|
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
|
|
4. | FIXED ASSET INVESTMENTS - continued |
|
The company holds the following investments: |
|
10,000 shares in SMM - Sociedade Imobiliaria LDA, a company incorporated in Portugal, which represents 74% of the ordinary share capital. |
|
100 shares in Alfamar Investments 2 S.A.R.L, a company incorporated in Luxembourg, which represents 20% of the ordinary share capital. |
|
50,000 shares in The Prime IX Corporate SGPS, S.A., a company incorporated in Portugal, which represents 100% of the ordinary share capital. |
|
During the year the company purchased 142.117 USD 0.001 Class1- Series C Participating Shares in Dorae Inc., a company incorporated in the Cayman Islands. |
|
The company previously held 10,000 Ordinary shares in Sun House Management S.A., a company incorporated in Portugal. During the year Sun House Management S.A. was dissolved and three new created upon dissolution; The Prime IX Corporate SGPS, S.A., Sun House Consulting Business LDA & Sun House Alfa S.A.. |
|
All shares held in Sun House Alfa S.A. were also sold during the year. |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
as restated |
£ | £ |
Prepayments |
|
|
Loan - The Prime IX Corporate | 474,908 | - |
Loan - SMM | 5,043,775 | - |
|
|
|
The loans to The Prime IX Corporate SGPS S.A. and SMM - Sociedade Imobiliaria LDA are unsecured, interest free and repayable on demand. |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
as restated |
£ | £ |
Accruals |
|
|
Director loan | 84,443 | 80,044 |
|
|
|
The loan from the director, which represents long-term finance of the company, is unsecured, interest-free and without a specified repayment date. |
The Prime Energize Holding Limited (Registered number: 07800594) |
|
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
|
|
7. | CALLED UP SHARE CAPITAL |
|
|
Allotted and issued: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | as restated |
£ | £ |
|
Ordinary | £1 | 1,000 | 1,000 |
|
8. | RESERVES |
Retained | Non-distributable | Other |
earnings | reserve | reserves | Totals |
£ | £ | £ | £ |
|
At 1 November 2018 | ( |
) |
|
|
3,541,827 |
Profit for the year |
|
|
At 31 October 2019 |
|
|
|
11,452,082 |
|
9. | RELATED PARTY DISCLOSURES |
|
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
|
10. | POST BALANCE SHEET EVENTS |
|
The effect of events relating to the year ended 31 October 2019, which occurred before the date of approval of the financial statements by the director, have been included to the extent required to show a true and fair view of the state of affairs at 31 October 2019 and of the results of the year ended on that date. |
|
11. | PRIOR YEAR ADJUSTMENT |
|
During the year ended 31 October 2017 the company purchased 50,000 €1 Ordinary shares in The Prime I Corporate SA at a cost of £43,185. The investment was revalued to £467,149 however the investment was omitted from the 2017 financial statements. Therefore at 31 October 2017 the fixed asset investments were understated by £467,149, the beneficial owner loan was understated by £43,185 and the non-distributable reserves were understated by £423,964.The comparative figures in the Profit & Loss Account and the Balance Sheet have been restated accordingly. |