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REGISTERED NUMBER: 06281784 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Prudent Properties (London) Limited

Prudent Properties (London) Limited (Registered number: 06281784)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Prudent Properties (London) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A Sodha
R Sodha





SECRETARY: R Sodha





REGISTERED OFFICE: 29 Albury Drive
Pinner
HA5 3RL





REGISTERED NUMBER: 06281784 (England and Wales)





ACCOUNTANTS: J N Simaria & Co
Accountants
29 Albury Drive
Pinner
Middlesex
HA5 3RL

Prudent Properties (London) Limited (Registered number: 06281784)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Stocks 4 1,791,687 1,928,050
Debtors 5 134,444 42,000
Cash at bank 28,110 50,322
1,954,241 2,020,372
CREDITORS
Amounts falling due within one year 6 593,488 603,360
NET CURRENT ASSETS 1,360,753 1,417,012
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,360,753

1,417,012

CREDITORS
Amounts falling due after more than one
year

7

748,898

898,898
NET ASSETS 611,855 518,114

CAPITAL AND RESERVES
Called up share capital 9 3 3
Retained earnings 10 611,852 518,111
SHAREHOLDERS' FUNDS 611,855 518,114

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

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

Prudent Properties (London) Limited (Registered number: 06281784)

Balance Sheet - continued
31 March 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 10 January 2024 and were signed on its behalf by:




A Sodha - Director



R Sodha - Director


Prudent Properties (London) Limited (Registered number: 06281784)

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

1. STATUTORY INFORMATION

Prudent Properties (London) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 2 (2022 - 2 ) .

4. STOCKS
31.3.23 31.3.22
£    £   
Stocks 1,791,687 1,928,050

Prudent Properties (London) Limited (Registered number: 06281784)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 134,444 42,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Mortgages 25,874 25,874
Corporation tax 32,894 36,626
Other creditors 467,893 86,954
Directors' current accounts 35,421 431,323
Accrued expenses 31,406 22,583
593,488 603,360

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Mortgages 699,260 699,260
Other loans - 2-5 years 49,638 199,638
748,898 898,898

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Mortgages 774,772 924,772

The mortgage is secured against properties value and the personal guarantee of a director.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
3 Ordinary £1 3 3

10. RESERVES
Retained
earnings
£   

At 1 April 2022 518,111
Profit for the year 143,695
Dividends (49,954 )
At 31 March 2023 611,852