Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Mr D J Weston 30/07/2019 Mrs K Weston 30/07/2019 24 August 2023 The principal activity of the Company during the financial year was that of a sales and business development specialist in the automotive industry. 12129388 2023-07-31 12129388 bus:Director1 2023-07-31 12129388 bus:Director2 2023-07-31 12129388 2022-07-31 12129388 core:CurrentFinancialInstruments 2023-07-31 12129388 core:CurrentFinancialInstruments 2022-07-31 12129388 core:ShareCapital 2023-07-31 12129388 core:ShareCapital 2022-07-31 12129388 core:RetainedEarningsAccumulatedLosses 2023-07-31 12129388 core:RetainedEarningsAccumulatedLosses 2022-07-31 12129388 core:OfficeEquipment 2022-07-31 12129388 core:OfficeEquipment 2023-07-31 12129388 core:CostValuation 2022-07-31 12129388 core:CostValuation 2023-07-31 12129388 core:ProvisionsForImpairmentInvestments 2022-07-31 12129388 core:ProvisionsForImpairmentInvestments 2023-07-31 12129388 2022-08-01 2023-07-31 12129388 bus:FilletedAccounts 2022-08-01 2023-07-31 12129388 bus:SmallEntities 2022-08-01 2023-07-31 12129388 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 12129388 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12129388 bus:Director1 2022-08-01 2023-07-31 12129388 bus:Director2 2022-08-01 2023-07-31 12129388 core:OfficeEquipment core:TopRangeValue 2022-08-01 2023-07-31 12129388 2021-08-01 2022-07-31 12129388 core:OfficeEquipment 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 12129388 (England and Wales)

PRIORY PERFORMANCE LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

PRIORY PERFORMANCE LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

PRIORY PERFORMANCE LIMITED

BALANCE SHEET

As at 31 July 2023
PRIORY PERFORMANCE LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 0 310
Investments 4 4,915 4,915
4,915 5,225
Current assets
Cash at bank and in hand 71,283 84,370
71,283 84,370
Creditors: amounts falling due within one year 5 ( 39,481) ( 39,720)
Net current assets 31,802 44,650
Total assets less current liabilities 36,717 49,875
Net assets 36,717 49,875
Capital and reserves
Called-up share capital 100 100
Profit and loss account 36,617 49,775
Total shareholders' funds 36,717 49,875

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Priory Performance Limited (registered number: 12129388) were approved and authorised for issue by the Board of Directors on 24 August 2023. They were signed on its behalf by:

Mr D J Weston
Director
PRIORY PERFORMANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
PRIORY PERFORMANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Priory Performance Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 August 2022 920 920
At 31 July 2023 920 920
Accumulated depreciation
At 01 August 2022 610 610
Charge for the financial year 310 310
At 31 July 2023 920 920
Net book value
At 31 July 2023 0 0
At 31 July 2022 310 310

4. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 August 2022 4,915 4,915
At 31 July 2023 4,915 4,915
Provisions for impairment
At 01 August 2022 0 0
At 31 July 2023 0 0
Carrying value at 31 July 2023 4,915 4,915
Carrying value at 31 July 2022 4,915 4,915

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 1
Amounts owed to directors 14,672 8,858
Accruals 1,129 1,687
Taxation and social security 19,680 27,174
Other creditors 4,000 2,000
39,481 39,720