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REGISTERED NUMBER: 09236909 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2021

FOR

PRIORY CONSTRUCTION & DEVELOPMENTS LTD

PRIORY CONSTRUCTION & DEVELOPMENTS LTD (REGISTERED NUMBER: 09236909)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PRIORY CONSTRUCTION & DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: N A Basford
Ms T Carter
J Basford





SECRETARY: Ms T Carter





REGISTERED OFFICE: 3 The Grain Store
Priory Lane
Broad Marston
Startford Upon Avon
West Midlands
CV37 8XZ





REGISTERED NUMBER: 09236909 (England and Wales)





ACCOUNTANTS: Stanley Yule Chartered Accountants
Waterside House
Waterside Business Park
1649 Pershore Road
Birmingham
West Midlands
B30 3DR

PRIORY CONSTRUCTION & DEVELOPMENTS LTD (REGISTERED NUMBER: 09236909)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,861 19,827

CURRENT ASSETS
Stocks - 513,439
Debtors 5 197,203 166,604
Cash at bank 1,219,625 578,294
1,416,828 1,258,337
CREDITORS
Amounts falling due within one year 6 231,765 126,732
NET CURRENT ASSETS 1,185,063 1,131,605
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,197,924

1,151,432

PROVISIONS FOR LIABILITIES 2,444 3,770
NET ASSETS 1,195,480 1,147,662

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,195,380 1,147,562
SHAREHOLDERS' FUNDS 1,195,480 1,147,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

PRIORY CONSTRUCTION & DEVELOPMENTS LTD (REGISTERED NUMBER: 09236909)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2022 and were signed on its behalf by:




N A Basford - Director



Ms T Carter - Director


PRIORY CONSTRUCTION & DEVELOPMENTS LTD (REGISTERED NUMBER: 09236909)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax arising from building works contracts..Income is recognised on stages of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks and property developments
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and net realisable value. The value of the property development is reflected in the profit and loss account where it is considered that the outcome can be assessed with reasonable certainty before its conclusion and also taking into account unconditional contracts for sale. Turnover is ascertained in a manner appropriate to the completion of the work in progress. The valuation of work in progress takes into account the costs borne at the date of valuation compared to the total anticipated costs. However where it is considered that the outcome of a property development cannot be assessed with reasonable certainty, no provision for anticipated profit is made in the financial statements.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

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.

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.

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.

PRIORY CONSTRUCTION & DEVELOPMENTS LTD (REGISTERED NUMBER: 09236909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2021 36,763 3,800 327 40,890
Additions 200 - 35 235
At 31 December 2021 36,963 3,800 362 41,125
DEPRECIATION
At 1 January 2021 17,552 3,249 262 21,063
Charge for year 6,586 543 72 7,201
At 31 December 2021 24,138 3,792 334 28,264
NET BOOK VALUE
At 31 December 2021 12,825 8 28 12,861
At 31 December 2020 19,211 551 65 19,827

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 10,000 -
Other debtors 187,203 166,604
197,203 166,604

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 6,664 4,664
Taxation and social security 43,271 89,190
Other creditors 181,830 32,878
231,765 126,732

PRIORY CONSTRUCTION & DEVELOPMENTS LTD (REGISTERED NUMBER: 09236909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
Ms T Carter
Balance outstanding at start of year 121,862 -
Amounts advanced 18,291 121,862
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 140,153 121,862