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REGISTERED NUMBER: 03484809 (England and Wales)














REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

PRIME COMMERCIAL PROPERTIES MANAGEMENT
LIMITED

PRIME COMMERCIAL PROPERTIES MANAGEMENT
LIMITED (REGISTERED NUMBER: 03484809)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


PRIME COMMERCIAL PROPERTIES MANAGEMENT
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: P Gubbay
J Gubbay
Mrs E Gubbay
Mrs L Khalastchi





SECRETARY: Ms S Zainuddin





REGISTERED OFFICE: 7 Praed Street
London
W2 1NJ





REGISTERED NUMBER: 03484809 (England and Wales)






PRIME COMMERCIAL PROPERTIES MANAGEMENT
LIMITED (REGISTERED NUMBER: 03484809)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2023


The directors present their report with the financial statements of the company for the year ended 31st March 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2022 to the date of this report.

P Gubbay
J Gubbay
Mrs E Gubbay
Mrs L Khalastchi

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Gubbay - Director


10th October 2023

PRIME COMMERCIAL PROPERTIES MANAGEMENT
LIMITED (REGISTERED NUMBER: 03484809)

INCOME STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2023

2023 2022
Notes £ £

TURNOVER 262,681 309,068

Cost of sales (55,984 ) (54,862 )
GROSS PROFIT 206,697 254,206

Distribution costs (6,577 ) (9,899 )
Administrative expenses (369,838 ) (479,629 )
OPERATING LOSS and
LOSS BEFORE TAXATION (169,718 ) (235,322 )

Tax on loss - -
LOSS FOR THE FINANCIAL YEAR (169,718 ) (235,322 )

PRIME COMMERCIAL PROPERTIES MANAGEMENT
LIMITED (REGISTERED NUMBER: 03484809)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £
FIXED ASSETS
Tangible assets 5 10,187 12,777

CURRENT ASSETS
Debtors 6 110,152 97,488
Cash at bank and in hand 1,249,530 1,237,329
1,359,682 1,334,817
CREDITORS
Amounts falling due within one year 7 (1,982,854 ) (1,790,861 )
NET CURRENT LIABILITIES (623,172 ) (456,044 )
TOTAL ASSETS LESS CURRENT LIABILITIES (612,985 ) (443,267 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (612,987 ) (443,269 )
SHAREHOLDERS' FUNDS (612,985 ) (443,267 )

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

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 10th October 2023 and were signed on its behalf by:





P Gubbay - Director


PRIME COMMERCIAL PROPERTIES MANAGEMENT
LIMITED (REGISTERED NUMBER: 03484809)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Prime Commercial Properties Management 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 represents fees receivable based on the following:

(i) Revenue is recognised when services are provided.

(ii) Revenue for introduction and disposal fees is recognised on completion of acquisition and disposal of properties.

(iii) Revenue from promote fees is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided to write off the cost, less estimated residual values, of all fixed assets over their expected useful lives. It is calculated at the following rates:

Fixtures and fittings - 25% on cost

Government grants
Government grants are accounted for on an accruals basis, and released in the same period as the costs they relate to.

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.

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.

Pension costs and other post-retirement benefits
The company operates in 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.

PRIME COMMERCIAL PROPERTIES MANAGEMENT
LIMITED (REGISTERED NUMBER: 03484809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued

Dividends
Equity dividends are recognised when they become legally payable. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 9 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

2023 2022
£ £
Depreciation - owned assets 6,577 9,900

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1st April 2022 152,605
Additions 3,987
At 31st March 2023 156,592
DEPRECIATION
At 1st April 2022 139,828
Charge for year 6,577
At 31st March 2023 146,405
NET BOOK VALUE
At 31st March 2023 10,187
At 31st March 2022 12,777

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 27,533 19,781
Other debtors 82,619 77,707
110,152 97,488

PRIME COMMERCIAL PROPERTIES MANAGEMENT
LIMITED (REGISTERED NUMBER: 03484809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 48,956 34,658
Taxation and social security 12,465 18,609
Other creditors 1,921,433 1,737,594
1,982,854 1,790,861

8. ULTIMATE CONTROLLING PARTY

The company is a wholly-owned subsidiary of Prime Commercial Management (Holdings) Limited.