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REGISTERED NUMBER: 08422927 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PRIORY (LEAMINGTON SPA) LIMITED

PRIORY (LEAMINGTON SPA) LIMITED (REGISTERED NUMBER: 08422927)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIORY (LEAMINGTON SPA) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: J P Williams
A J Williams
M H Williams





REGISTERED OFFICE: 1 & 2 Mercia Village Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX





REGISTERED NUMBER: 08422927 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants and Tax Advisers
1 & 2 Mercia Village Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX

PRIORY (LEAMINGTON SPA) LIMITED (REGISTERED NUMBER: 08422927)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,214 7,065

CURRENT ASSETS
Stocks 39,912 48,556
Debtors 5 90,787 98,700
Cash at bank and in hand 77,500 78,090
208,199 225,346
CREDITORS
Amounts falling due within one year 6 93,618 123,229
NET CURRENT ASSETS 114,581 102,117
TOTAL ASSETS LESS CURRENT
LIABILITIES

134,795

109,182

CREDITORS
Amounts falling due after more than one
year

7

(33,043

)

(32,236

)

PROVISIONS FOR LIABILITIES (3,854 ) (1,342 )
NET ASSETS 97,898 75,604

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 97,795 75,501
SHAREHOLDERS' FUNDS 97,898 75,604

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

PRIORY (LEAMINGTON SPA) LIMITED (REGISTERED NUMBER: 08422927)

BALANCE SHEET - continued
28 FEBRUARY 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 3 November 2023 and were signed on its behalf by:





A J Williams - Director


PRIORY (LEAMINGTON SPA) LIMITED (REGISTERED NUMBER: 08422927)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Priory (Leamington Spa) 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.
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

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

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.

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.

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

PRIORY (LEAMINGTON SPA) LIMITED (REGISTERED NUMBER: 08422927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 - 15,343 6,306 21,649
Additions 1,561 18,098 - 19,659
At 28 February 2023 1,561 33,441 6,306 41,308
DEPRECIATION
At 1 March 2022 - 11,702 2,882 14,584
Charge for year 390 5,435 685 6,510
At 28 February 2023 390 17,137 3,567 21,094
NET BOOK VALUE
At 28 February 2023 1,171 16,304 2,739 20,214
At 28 February 2022 - 3,641 3,424 7,065

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 89,537 97,450
Other debtors 1,250 1,250
90,787 98,700

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 51,868 67,699
Taxation and social security 38,775 41,576
Other creditors 2,975 13,954
93,618 123,229

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 33,043 32,236