Silverfin false 31/01/2023 01/02/2022 31/01/2023 Mr A D Morgan 28/03/2001 Mr M B Pritchard 28/03/2001 13 October 2023 The principal activity of the Company during the financial year was the rental of commercial property. 04188486 2023-01-31 04188486 bus:Director1 2023-01-31 04188486 bus:Director2 2023-01-31 04188486 2022-01-31 04188486 core:CurrentFinancialInstruments 2023-01-31 04188486 core:CurrentFinancialInstruments 2022-01-31 04188486 core:ShareCapital 2023-01-31 04188486 core:ShareCapital 2022-01-31 04188486 core:SharePremium 2023-01-31 04188486 core:SharePremium 2022-01-31 04188486 core:RetainedEarningsAccumulatedLosses 2023-01-31 04188486 core:RetainedEarningsAccumulatedLosses 2022-01-31 04188486 core:PlantMachinery 2022-01-31 04188486 core:FurnitureFittings 2022-01-31 04188486 core:OfficeEquipment 2022-01-31 04188486 core:PlantMachinery 2023-01-31 04188486 core:FurnitureFittings 2023-01-31 04188486 core:OfficeEquipment 2023-01-31 04188486 bus:OrdinaryShareClass1 2023-01-31 04188486 2022-02-01 2023-01-31 04188486 bus:FullAccounts 2022-02-01 2023-01-31 04188486 bus:SmallEntities 2022-02-01 2023-01-31 04188486 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 04188486 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 04188486 bus:Director1 2022-02-01 2023-01-31 04188486 bus:Director2 2022-02-01 2023-01-31 04188486 core:PlantMachinery 2022-02-01 2023-01-31 04188486 core:FurnitureFittings core:TopRangeValue 2022-02-01 2023-01-31 04188486 core:OfficeEquipment 2022-02-01 2023-01-31 04188486 2021-02-01 2022-01-31 04188486 core:FurnitureFittings 2022-02-01 2023-01-31 04188486 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 04188486 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04188486 (England and Wales)

PRITCHMOR HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

PRITCHMOR HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

PRITCHMOR HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 January 2023
PRITCHMOR HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 6,572 8,344
Investment property 4 2,406,202 2,406,202
2,412,774 2,414,546
Current assets
Debtors 5 57,569 383,183
Cash at bank and in hand 459,869 206,607
517,438 589,790
Creditors: amounts falling due within one year 6 ( 696,666) ( 695,223)
Net current liabilities (179,228) (105,433)
Total assets less current liabilities 2,233,546 2,309,113
Provision for liabilities ( 9,256) ( 8,881)
Net assets 2,224,290 2,300,232
Capital and reserves
Called-up share capital 7 100 100
Share premium account 49,900 49,900
Profit and loss account 2,174,290 2,250,232
Total shareholders' funds 2,224,290 2,300,232

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of PritchMor Holdings Limited (registered number: 04188486) were approved and authorised for issue by the Director on 13 October 2023. They were signed on its behalf by:

Mr A D Morgan
Director
PRITCHMOR HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
PRITCHMOR HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

PritchMor Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Chy Nyverow, Newham Road, Truro, TR1 2DP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Fixtures and fittings 3 years straight line
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

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

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 February 2022 18,975 752 1,493 21,220
At 31 January 2023 18,975 752 1,493 21,220
Accumulated depreciation
At 01 February 2022 11,605 679 592 12,876
Charge for the financial year 1,474 73 225 1,772
At 31 January 2023 13,079 752 817 14,648
Net book value
At 31 January 2023 5,896 0 676 6,572
At 31 January 2022 7,370 73 901 8,344

4. Investment property

Investment property
£
Valuation
As at 01 February 2022 2,406,202
As at 31 January 2023 2,406,202

5. Debtors

2023 2022
£ £
Trade debtors 1,311 11,350
Other debtors 56,258 371,833
57,569 383,183

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 635,000 635,000
Trade creditors 0 3,415
Corporation tax 30,242 22,693
Other taxation and social security 5,212 5,365
Other creditors 26,212 28,750
696,666 695,223

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

At the year end the company was owed £56,258 (2022: £68,350) by the directors.