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REGISTERED NUMBER: 02783810 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

PROWESS LIMITED

PROWESS LIMITED (REGISTERED NUMBER: 02783810)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PROWESS LIMITED

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2022







DIRECTORS: J J Cutmore-Scott
R M Cutmore-Scott
S M Cutmore Scott





SECRETARY: R M Cutmore-Scott





REGISTERED OFFICE: The Wheelhouse
76b Grove Park Road
Chiswick
London
W4 3QA





REGISTERED NUMBER: 02783810 (England and Wales)





ACCOUNTANTS: Knight & Company Ltd
11 Castle Hill
Maidenhead
Berkshire
SL6 4AA

PROWESS LIMITED (REGISTERED NUMBER: 02783810)

ABRIDGED BALANCE SHEET
31 DECEMBER 2022

31/12/22 31/12/21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,068,254 9,419,431

CURRENT ASSETS
Stocks 18,304 43,103
Debtors 5 3,042,374 2,769,982
Cash in hand 9,842 4,308
3,070,520 2,817,393
CREDITORS
Amounts falling due within one year 2,692,164 2,129,920
NET CURRENT ASSETS 378,356 687,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,446,610

10,106,904

CREDITORS
Amounts falling due after more than one
year

6

(4,584,457

)

(4,967,457

)

PROVISIONS FOR LIABILITIES (24,191 ) (33,233 )
NET ASSETS 4,837,962 5,106,214

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 4,837,960 5,106,212
SHAREHOLDERS' FUNDS 4,837,962 5,106,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

PROWESS LIMITED (REGISTERED NUMBER: 02783810)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2022


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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 October 2023 and were signed on its behalf by:




R M Cutmore-Scott - Director



J J Cutmore-Scott - Director


PROWESS LIMITED (REGISTERED NUMBER: 02783810)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2022

1. STATUTORY INFORMATION

Prowess 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 net invoiced sales of services, excluding value added tax. Revenue is recognised in accordance with the terms of the contract with the customer.

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 - Straight line over 50 years
Plant and machinery etc - 15% on reducing balance

Land included in Land and Buildings, is not depreciated as part of the annual charge as the land value is not considered to fall in value.
There has been no impairment review of the buildings included in the financial statements, as the buildings are maintained with a continuous program of repairs.

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

Net realisable value is based on selling price less anticipated costs to completion plus selling costs.

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 balance sheet date.


PROWESS LIMITED (REGISTERED NUMBER: 02783810)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2021 - 49 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2022 10,091,496
Additions 365,936
Disposals (630,416 )
At 31 December 2022 9,827,016
DEPRECIATION
At 1 January 2022 672,065
Charge for year 116,811
Eliminated on disposal (30,114 )
At 31 December 2022 758,762
NET BOOK VALUE
At 31 December 2022 9,068,254
At 31 December 2021 9,419,431

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/22 31/12/21
£    £   
Amounts owed by group undertakings 2,747,480 2,343,295

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31/12/22 31/12/21
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 2,506,797 2,630,662

PROWESS LIMITED (REGISTERED NUMBER: 02783810)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2022

7. SECURED DEBTS

The following secured debts are included within creditors:

31/12/22 31/12/21
£    £   
Bank loans 5,086,314 5,468,356

There is a charge on the company dated 17th September 2019 in the name of HSBC Holdings PLC over the property and land know as Cain Manor, Alpine Lodge and Cain Farm (all on the Land of Nod) and all other assets of the company.

8. RELATED PARTY DISCLOSURES

Throughout the current and previous year the company was controlled by Mr & Mrs Cutmore-Scott by virtue of the fact that they own all of the ordinary share capital of the company.

Mr & Mrs Cutmore-Scott are also partners in Prowess Partnership. As at 31st December 2022 the balance owed to Prowess Limited by Prowess Partnership was £2,448,382 shown in other debtors (2021 - £2,593,295).

Mr & Mrs Cutmore-Scott also own all of the ordinary share capital of Bijou Wedding Venues Limited. As at 31st December 2021 the balance owed by Bijou Wedding Venues Ltd to Prowess Limited was £Nil shown in other debtors (2021 - £nil).

The directors loan balance as at 31st December 2022 was £206.