Company Registration No. 08174958 (England and Wales)
Prince IT Limited
Unaudited accounts
for the year ended 31 August 2022
Prince IT Limited
Unaudited accounts
Contents
Prince IT Limited
Company Information
for the year ended 31 August 2022
Directors
Mr. Syed Sajjad Hussain
Mrs. Tayyaba Hussain
Company Number
08174958 (England and Wales)
Registered Office
71 Biggin Hill
Upper Norwood
London
SE19 3HT
Accountants
Proacc Consulting Ltd
3rd Floor
86-90 Paul Street
London
EC2A 4NE
Prince IT Limited
Statement of financial position
as at 31 August 2022
Cash at bank and in hand
1
14,416
Creditors: amounts falling due within one year
(12,190)
(9,631)
Net current assets
9,319
12,640
Total assets less current liabilities
9,319
12,640
Creditors: amounts falling due after more than one year
(12,190)
(12,638)
Net (liabilities)/assets
(2,871)
2
Called up share capital
2
2
Profit and loss account
(2,873)
-
Shareholders' funds
(2,871)
2
For the year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by
Mr. Syed Sajjad Hussain
Director
Company Registration No. 08174958
Prince IT Limited
Notes to the Accounts
for the year ended 31 August 2022
Prince IT Limited is a private company, limited by shares, registered in England and Wales, registration number 08174958. The registered office is 71 Biggin Hill, Upper Norwood, London, SE19 3HT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of discounts, of work carried out in respect of services provided to customers.
Amounts falling due within one year
Other debtors
21,508
7,855
5
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
3,114
3,103
Taxes and social security
8,356
6,178
6
Creditors: amounts falling due after more than one year
2022
2021
Represent unsecured bank loans bearing an interest of 2.5% p.a.
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Prince IT Limited
Notes to the Accounts
for the year ended 31 August 2022
8
Transactions with related parties
Other debtors include £16,082 (2021: £7,855) due from directors. There are no formal repayment terms.
9
Average number of employees
During the year the average number of employees was 1 (2021: 2).