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REGISTERED NUMBER: 05936749 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

PRIZM SOLUTIONS LTD

PRIZM SOLUTIONS LTD (REGISTERED NUMBER: 05936749)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIZM SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mrs T J Pound
Mrs J A Pound
Mr P J Robinson
Mr M A Small





REGISTERED OFFICE: 24 Dorset Close, Fazeley
Tamworth
Staffordshire
B78 3XY





REGISTERED NUMBER: 05936749 (England and Wales)





ACCOUNTANTS: Brookes Stephens
New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ

PRIZM SOLUTIONS LTD (REGISTERED NUMBER: 05936749)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 74,483 90,214
Tangible assets 5 24,003 22,286
Investments 6 2,100 2,100
100,586 114,600

Current assets
Debtors 7 570,655 671,936
Cash at bank 91,843 89,017
662,498 760,953
Creditors
Amounts falling due within one year 8 585,521 684,402
Net current assets 76,977 76,551
Total assets less current liabilities 177,563 191,151

Creditors
Amounts falling due after more than one
year

9

(15,090

)

(25,243

)

Provisions for liabilities (4,344 ) (4,234 )
Net assets 158,129 161,674

Capital and reserves
Called up share capital 11 10,000 10,000
Retained earnings 148,129 151,674
Shareholders' funds 158,129 161,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

PRIZM SOLUTIONS LTD (REGISTERED NUMBER: 05936749)

BALANCE SHEET - continued
30 NOVEMBER 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 11 April 2024 and were signed on its behalf by:





Mr P J Robinson - Director


PRIZM SOLUTIONS LTD (REGISTERED NUMBER: 05936749)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Prizm Solutions Ltd 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 represents net invoiced goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 25% on 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.

PRIZM SOLUTIONS LTD (REGISTERED NUMBER: 05936749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 157,319
AMORTISATION
At 1 December 2022 67,105
Charge for year 15,731
At 30 November 2023 82,836
NET BOOK VALUE
At 30 November 2023 74,483
At 30 November 2022 90,214

PRIZM SOLUTIONS LTD (REGISTERED NUMBER: 05936749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 105,844
Additions 15,144
Disposals (76,744 )
At 30 November 2023 44,244
DEPRECIATION
At 1 December 2022 83,558
Charge for year 8,180
Eliminated on disposal (71,497 )
At 30 November 2023 20,241
NET BOOK VALUE
At 30 November 2023 24,003
At 30 November 2022 22,286

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022
and 30 November 2023 2,100
NET BOOK VALUE
At 30 November 2023 2,100
At 30 November 2022 2,100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 535,413 638,734
Other debtors 35,242 33,202
570,655 671,936

PRIZM SOLUTIONS LTD (REGISTERED NUMBER: 05936749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,001 19,074
Trade creditors 507,730 602,064
Taxation and social security 50,920 55,822
Other creditors 7,870 7,442
585,521 684,402

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 15,090 25,243

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 20,400 20,400
Between one and five years 61,200 81,600
81,600 102,000

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mr P J Robinson
Balance outstanding at start of year 3,079 3,079
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,079 3,079

PRIZM SOLUTIONS LTD (REGISTERED NUMBER: 05936749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs T J Pound
Balance outstanding at start of year 3,079 3,079
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,079 3,079

These loans are interest free and repayable on demand.

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £106,667 (2022 - £107,733) were paid to the directors .