Company registration number 00655523 (England and Wales)
PRUTKOL INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
PRUTKOL INVESTMENTS LIMITED
COMPANY INFORMATION
Directors
O J R Sloam
N S C Sloam
E A Sloam
N S Sloam
Company number
00655523
Registered office
5 Technology Park
Colindeep Lane
London
United Kingdom
NW9 6BX
Accountants
Grunberg & Co Limited
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX
PRUTKOL INVESTMENTS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
PRUTKOL INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
29 MARCH 2023
29 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
1,060,000
1,060,000
Current assets
Debtors
4
382,934
319,694
Cash at bank and in hand
12,284
14,556
395,218
334,250
Creditors: amounts falling due within one year
5
(30,170)
(32,620)
Net current assets
365,048
301,630
Total assets less current liabilities
1,425,048
1,361,630
Provisions for liabilities
(129,778)
(129,778)
Net assets
1,295,270
1,231,852
Capital and reserves
Called up share capital
75
75
Revaluation reserve
806,588
806,588
Capital redemption reserve
25
25
Other reserves
10,000
10,000
Profit and loss reserves
478,582
415,164
Total equity
1,295,270
1,231,852
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 29 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PRUTKOL INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
29 MARCH 2023
29 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 November 2023 and are signed on its behalf by:
E A Sloam
N S Sloam
Director
Director
Company registration number 00655523 (England and Wales)
PRUTKOL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2023
- 3 -
1
Accounting policies
Company information
Prutkol Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Technology Park, Colindeep Lane, London, United Kingdom, NW9 6BX.
1.1
Accounting convention
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 as modified by the revaluation of certain assets.
1.2
Turnover
Turnover is measured at the fair value of the consideration receivable and represents rents receivable, net of
value added tax. Income is recognised on a straight-line basis over the term of the rental agreement.
1.3
Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
PRUTKOL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
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
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 statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
4
PRUTKOL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2023
- 5 -
3
Investment property
2023
£
Fair value
At 30 March 2022 and 29 March 2023
1,060,000
Investment properties were valued on an open market basis on the 29 March 2023 by the directors.
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
7,383
Other debtors
382,934
312,311
382,934
319,694
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,279
Corporation tax
14,959
16,267
Other creditors
12,461
10,977
Accruals and deferred income
2,750
4,097
30,170
32,620
6
RESERVES
Retained earnings includes all current and prior period retained profits and loss, all of which, are distributable reserves.
Amounts totaling £806,588 included within the fair value reserve are not distributable.
7
RELATED PARTY DISCLOSURES
Included in other debtors is an amount due from related companies, in which the directors have a material interest and control. The amount is interest free and repayable on demand.