2022-07-012023-06-302023-06-30false00847902Priory Estates (Cornwall) 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Priory Estates (Cornwall) Limited

Registered Number
00847902
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

Priory Estates (Cornwall) Limited
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

Mr I Chisholm
Chisholm Consultancy Limited

Registered Address

Lower Rock House Rock Road
Rock
Wadebridge
PL27 6LB

Registered Number

00847902 (England and Wales)
Priory Estates (Cornwall) Limited
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5257,031257,640
257,031257,640
Current assets
Cash at bank and on hand40,20520,144
40,20520,144
Creditors amounts falling due within one year9(114,521)(110,210)
Net current assets (liabilities)(74,316)(90,066)
Total assets less current liabilities182,715167,574
Net assets182,715167,574
Capital and reserves
Called up share capital100100
Profit and loss account182,615167,474
Shareholders' funds182,715167,574
The financial statements were approved and authorised for issue by the Board of Directors on 23 October 2023, and are signed on its behalf by:
Mr I Chisholm
Director
Registered Company No. 00847902
Priory Estates (Cornwall) Limited
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery10
Office Equipment5
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year11
5.Property, plant and equipment

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 July 22255,0008,232873264,105
At 30 June 23255,0008,232873264,105
Depreciation and impairment
At 01 July 22-5,6817846,465
Charge for year-609-609
At 30 June 23-6,2907847,074
Net book value
At 30 June 23255,0001,94289257,031
At 30 June 22255,0002,55189257,640
6.Description of nature of transactions and balances with related parties
At the balance sheet date, and amount of £109,611 (2022 £104,851) was due to Chisholm Consultancy Limited by the company. Chisholm Consultancy Limited is the majority shareholder company.
7.Directors advances, credits and guarantees
The net movement in the directors loan account during the year was a decrease of £1,377. The balance due to the director at the year end was £82 (2022 £1,459). The loan is non-interest bearing and repayable on demand.
8.Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Taxation and social security3,9463,078
Other creditors109,693106,311
Accrued liabilities and deferred income882821
Total114,521110,210
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.