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COMPANY REGISTRATION NUMBER: 13696477
PROSAW HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
PROSAW HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Investments
4
3,488,444
3,488,444
CURRENT ASSETS
Cash at bank and in hand
25,109
25,000
CREDITORS: amounts falling due within one year
5
440,000
440,000
---------
---------
NET CURRENT LIABILITIES
414,891
415,000
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
3,073,553
3,073,444
CREDITORS: amounts falling due after more than one year
6
880,000
1,320,000
------------
------------
NET ASSETS
2,193,553
1,753,444
------------
------------
CAPITAL AND RESERVES
Called up share capital fully paid
60,000
60,000
Profit and loss account
2,133,553
1,693,444
------------
------------
SHAREHOLDERS FUNDS
2,193,553
1,753,444
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PROSAW HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 27 March 2024 , and are signed on behalf of the board by:
Mr C G Burns
Director
Company registration number: 13696477
PROSAW HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basisThe financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
4. INVESTMENTS
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
3,488,444
------------
Impairment
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
3,488,444
------------
At 31 December 2022
3,488,444
------------
5. CREDITORS: amounts falling due within one year
2023
2022
£
£
Other creditors
440,000
440,000
---------
---------
6. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Other creditors over one year
880,000
1,320,000
---------
------------
7. RELATED PARTY TRANSACTIONS
During the year the company received dividends of £440,000 (2022 - £440,000) from Prosaw Limited the group subsidiary.