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REGISTERED NUMBER: 06035951 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Pruce Newman Properties Limited

Pruce Newman Properties Limited (Registered number: 06035951)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pruce Newman Properties Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: A J Pruce
J M Key
D Razzell





REGISTERED OFFICE: C/o Pruce Newman Pipework
Ayton Rd
Wymondham
Norfolk
NR18 0QJ





REGISTERED NUMBER: 06035951 (England and Wales)





ACCOUNTANTS: Sygma Chartered Accountants
1 Sopwith Crescent
Wickford
Essex
SS11 8YU

Pruce Newman Properties Limited (Registered number: 06035951)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 875,000 875,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

875,000

875,000

PROVISIONS FOR LIABILITIES 52,250 52,250
NET ASSETS 822,750 822,750

CAPITAL AND RESERVES
Called up share capital 600,000 600,000
Revaluation reserve 275,000 275,000
Retained earnings (52,250 ) (52,250 )
SHAREHOLDERS' FUNDS 822,750 822,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 27 September 2023 and were signed on its behalf by:




A J Pruce - Director


Pruce Newman Properties Limited (Registered number: 06035951)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Pruce Newman Properties 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Freehold land and buildings are shown at valuation less any accumulated impairment losses. Depreciation is not provided on freehold land and buildings which are shown at current valuation. Increases in carrying amount are recognised in other comprehensive income and accumulated in equity in revaluation reserve.

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.

3. EMPLOYEES AND DIRECTORS

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

Pruce Newman Properties Limited (Registered number: 06035951)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 June 2022
and 31 May 2023 875,000
NET BOOK VALUE
At 31 May 2023 875,000
At 31 May 2022 875,000

Cost or valuation at 31 May 2023 is represented by:

Land and
buildings
£   
Valuation in 2016 85,000
Valuation in 2019 110,000
Valuation in 2022 80,000
Cost 600,000
875,000

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 600,000 600,000

Freehold land and buildings were valued on an open market basis on 30 August 2022 by Watsons Surveyors .

5. SECURED DEBTS

Pruce Newman Properties Limited has provided a cross-guarantee for a bank loan and overdraft to Pruce Newman Pipework Limited. It has also allowed the same bank loan to be secured via a legal charge over the freehold property that is owned by Pruce Newman Properties Limited.

Pruce Newman Properties Limited (Registered number: 06035951)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. ULTIMATE CONTROLLING PARTY

Pruce Newman Properties Limited is a wholly owned subsidiary of Pruce Newman (Holdings) Limited, which is a wholly owned subsidiary of Pruce Newman Group Limited. The ultimate controlling party of the group is the Directors of Pruce Newman Group Limited. The registered office of Pruce Newman Group Limited is:
C/o Pruce Newman Pipework
Ayton Road
Wymondham
Norfolk
NR18 0QJ