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REGISTERED NUMBER: 12180788 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Pruce Newman (Holdings) Limited

Pruce Newman (Holdings) Limited (Registered number: 12180788)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pruce Newman (Holdings) Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: J M Key
A J Pruce
D Razzell





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





REGISTERED NUMBER: 12180788 (England and Wales)





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

Pruce Newman (Holdings) Limited (Registered number: 12180788)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,602,762 2,602,762

CURRENT ASSETS
Cash at bank 85 85

CREDITORS
Amounts falling due within one year 5 67,863 67,863
NET CURRENT LIABILITIES (67,778 ) (67,778 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,534,984

2,534,984

CREDITORS
Amounts falling due after more than
one year

6

-

1,878,744
NET ASSETS 2,534,984 656,240

CAPITAL AND RESERVES
Called up share capital 9 1,889,034 10,290
Share premium 10 38,456 38,456
Retained earnings 10 607,494 607,494
SHAREHOLDERS' FUNDS 2,534,984 656,240

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.

Pruce Newman (Holdings) Limited (Registered number: 12180788)

Balance Sheet - continued
31 May 2023


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 (Holdings) Limited (Registered number: 12180788)

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

1. STATUTORY INFORMATION

Pruce Newman (Holdings) 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.

Preparation of consolidated financial statements
The financial statements contain information about Pruce Newman (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Pruce Newman Group Limited, C/o Pruce Newman Pipework, Ayton Road, Wymondham, Norfolk, NR18 0QJ, England.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Pruce Newman (Holdings) Limited (Registered number: 12180788)

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

2. ACCOUNTING POLICIES - continued

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 balance sheet 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.

Classification of financial liabilities
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.

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.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

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

Pruce Newman (Holdings) Limited (Registered number: 12180788)

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2022
and 31 May 2023 2,602,762
NET BOOK VALUE
At 31 May 2023 2,602,762
At 31 May 2022 2,602,762

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Amounts owed to group undertakings 67,863 67,863

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.23 31.5.22
£    £   
Other creditors - 1,878,744

7. LOANS

On 17th June 2022 the company's Preference Shares were reclassified as Ordinary Shares. Immediately following this, the whole share capital was purchased by Pruce Newman Group Limited. As a result of this the Preference Share Capital, which was shown as a non-current liability of £1,878,744 on 31st May 2022, has been reclassified as Ordinary Share Capital.

8. SECURED DEBTS

Pruce Newman (Holdings) Limited has provided a cross-guarantee for a bank loan and overdraft to Pruce Newman Pipework Limited. The same bank loan is secured via a legal charge over the freehold property that is owned by Pruce Newman Properties Limited.

9. CALLED UP SHARE CAPITAL

On 17th June 2022 the company's A Ordinary Shares, B Ordinary Shares and Preference Shares were reclassified as Ordinary Shares. Immediately following this, the whole Ordinary Share Capital was purchased by Pruce Newman Group Limited.

Pruce Newman (Holdings) Limited (Registered number: 12180788)

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

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 June 2022 607,494 38,456 645,950
Profit for the year 394,322 394,322
Dividends (394,322 ) (394,322 )
At 31 May 2023 607,494 38,456 645,950

11. ULTIMATE CONTROLLING PARTY

Pruce Newman (Holdings) Limited 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