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REGISTERED NUMBER: 12225058 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Priest Associates Limited

Priest Associates Limited (Registered number: 12225058)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Priest Associates Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: W J Priest
Mrs J E Priest





REGISTERED OFFICE: The Walled Garden
Claverton
Bath
Somerset
BA2 7BG





REGISTERED NUMBER: 12225058 (England and Wales)





ACCOUNTANTS: Moore
Chartered Accountants
30 Gay Street
Bath
BA1 2PA

Priest Associates Limited (Registered number: 12225058)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,176 5,687

CURRENT ASSETS
Debtors 5 25,151 3,780
Cash at bank 118,652 134,147
143,803 137,927
CREDITORS
Amounts falling due within one year 6 5,030 17,150
NET CURRENT ASSETS 138,773 120,777
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,949

126,464

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 143,849 126,364
SHAREHOLDERS' FUNDS 143,949 126,464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Priest Associates Limited (Registered number: 12225058)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2023 and were signed on its behalf by:





W J Priest - Director


Priest Associates Limited (Registered number: 12225058)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Priest Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Computer equipment - 33% on reducing balance

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.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Priest Associates Limited (Registered number: 12225058)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Land and Computer
buildings equipment Totals
£    £    £   
COST
At 1 April 2022 6,837 488 7,325
Additions - 368 368
At 31 March 2023 6,837 856 7,693
DEPRECIATION
At 1 April 2022 1,367 271 1,638
Charge for year 684 195 879
At 31 March 2023 2,051 466 2,517
NET BOOK VALUE
At 31 March 2023 4,786 390 5,176
At 31 March 2022 5,470 217 5,687

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,500 3,350
Other debtors 23,651 430
25,151 3,780

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Taxation and social security 4,196 5,801
Other creditors 834 11,349
5,030 17,150

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

Priest Associates Limited (Registered number: 12225058)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. RELATED PARTY DISCLOSURES

Included in debtors is £23,239 (2022 Creditor - £10,514) owed by the directors to the company. Interest has been charged at 2% based on the HMRC official market rates. This loan will be repaid in full within 9 months of the balance sheet date.