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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
Page
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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
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Prince IT Limited Statement of financial position as at 31 August 2022
2022 
2021 
Notes
£ 
£ 
Current assets
Debtors
21,508 
7,855 
Cash at bank and in hand
1 
14,416 
21,509 
22,271 
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 
Capital and reserves
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
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Prince IT Limited Notes to the Accounts for the year ended 31 August 2022
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of discounts, of work carried out in respect of services provided to customers.
4
Debtors
2022 
2021 
£ 
£ 
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 
Accruals
720 
350 
12,190 
9,631 
6
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
12,190 
12,638 
Represent unsecured bank loans bearing an interest of 2.5% p.a.
7
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
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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).
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