2022-10-01 03332046 2023-09-30 03332046 2022-10-01 2023-09-30 03332046 2022-09-30 03332046 2021-10-01 2022-09-30 03332046 uk-core:WithinOneYear 2022-09-30 03332046 uk-core:WithinOneYear 2023-09-30 03332046 uk-core:AfterOneYear 2022-09-30 03332046 uk-core:AfterOneYear 2023-09-30 03332046 uk-core:ShareCapital 2023-09-30 03332046 uk-core:ShareCapital 2022-09-30 03332046 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 03332046 uk-core:RetainedEarningsAccumulatedLosses 2022-09-30 03332046 uk-bus:Director1 2022-10-01 2023-09-30 03332046 uk-core:PlantMachinery 2022-09-30 03332046 uk-core:Land 2022-09-30 03332046 uk-core:PlantMachinery 2022-10-01 2023-09-30 03332046 uk-core:Land 2022-10-01 2023-09-30 03332046 uk-core:Land 2023-09-30 03332046 uk-core:PlantMachinery 2023-09-30 03332046 uk-core:WithinOneYear uk-core:Secured 2023-09-30 03332046 uk-core:WithinOneYear uk-core:Secured 2022-09-30 03332046 uk-core:AfterOneYear uk-core:Secured 2023-09-30 03332046 uk-core:AfterOneYear uk-core:Secured 2022-09-30 iso4217:GBP xbrli:pure 03332046 uk-bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 03332046 uk-bus:FRS102 2022-10-01 2023-09-30 03332046 uk-bus:FilletedAccounts 2022-10-01 2023-09-30 03332046 uk-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30
Principality Ventures Limited
Registered Number:03332046
For the year ended 30 September 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 30 September 2023
Principality Ventures Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
03332046
As at 30 September 2023
Principality Ventures Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
463,084
473,407
2
463,084
473,407
Current assets
Inventories
1,910,718
3,036,314
3
Trade and other receivables
39,944
16,094
4
13,423
Cash and cash equivalents
2,194
3,054,602
1,964,085
Trade and other payables: amounts falling due within one
year
(2,387,040)
(3,551,020)
5
(422,955)
(496,418)
Net current liabilities
Total assets less current liabilities
(33,334)
50,452
Trade and other payables: amounts falling due after more
than one year
(39,964)
(158,124)
6
(191,458)
Net assets/liabilities
10,488
Capital and reserves
Called up share capital
100
100
Retained earnings
(191,558)
10,388
(191,458)
10,488
Shareholders' funds
For the year ended 30 September 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Michael Robert Haywood Director
These financial statements were approved and authorised for issue by the Board on 04 December 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 30 September 2023
Principality Ventures Limited
Notes to the Financial Statements
Statutory Information
Principality Ventures Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 03332046.
Registered address:
72 Dunstall Road
Halesowen
West Midlands
B63 1BE
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2. Property, plant and equipment
Total
Plant and
machinery
Land and
buildings
£
£
£
Cost or
valuation
At 01 October 2022
474,015
1,839
472,176
1,200
1,200
-
Additions
(1,529)
(10,000)
Disposals
(11,529)
At 30 September 2023
462,176
1,510
463,686
Provision for depreciation and impairment
At 01 October 2022
608
608
-
Charge for year
499
499
-
(505)
(505)
-
On disposal
At 30 September 2023
602
602
-
At 30 September 2023
Net book value
462,176
908
463,084
At 30 September 2022
472,176
1,231
473,407
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5
For the year ended 30 September 2023
Principality Ventures Limited
Notes to the Financial Statements Continued
3. Inventories
2022
2023
£
£
Stocks
3,036,314
1,910,718
4. Trade and other receivables
2022
2023
£
£
Other debtors
16,094
39,944
The debtors above include the following amounts falling due after more than one year:
Other debtors
7,643
7,643
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft (secured)
2,522,855
1,614,939
Trade creditors
315,109
225,659
Taxation and social security
7,687
16,877
Other creditors
705,369
529,565
3,551,020
2,387,040
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
45,518
-
Trade creditors
22,606
39,964
Other creditors
90,000
-
158,124
39,964
7. Average number of persons employed
During the year the average number of employees was 2 (2022 : 2)
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