Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30true2022-04-01falsewas that of a community pharmacy.1613trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07064480 2022-04-01 2023-06-30 07064480 2021-04-01 2022-03-31 07064480 2023-06-30 07064480 2022-03-31 07064480 c:Director1 2022-04-01 2023-06-30 07064480 c:Director2 2022-04-01 2023-06-30 07064480 d:Buildings 2022-04-01 2023-06-30 07064480 d:Buildings 2023-06-30 07064480 d:Buildings 2022-03-31 07064480 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-06-30 07064480 d:FurnitureFittings 2022-04-01 2023-06-30 07064480 d:FurnitureFittings 2023-06-30 07064480 d:FurnitureFittings 2022-03-31 07064480 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-06-30 07064480 d:OwnedOrFreeholdAssets 2022-04-01 2023-06-30 07064480 d:Goodwill 2022-04-01 2023-06-30 07064480 d:Goodwill 2023-06-30 07064480 d:Goodwill 2022-03-31 07064480 d:CurrentFinancialInstruments 2023-06-30 07064480 d:CurrentFinancialInstruments 2022-03-31 07064480 d:CurrentFinancialInstruments 3 2023-06-30 07064480 d:CurrentFinancialInstruments 3 2022-03-31 07064480 d:Non-currentFinancialInstruments 2023-06-30 07064480 d:Non-currentFinancialInstruments 2022-03-31 07064480 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07064480 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07064480 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 07064480 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07064480 d:ShareCapital 2023-06-30 07064480 d:ShareCapital 2022-03-31 07064480 d:RetainedEarningsAccumulatedLosses 2023-06-30 07064480 d:RetainedEarningsAccumulatedLosses 2022-03-31 07064480 c:FRS102 2022-04-01 2023-06-30 07064480 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-06-30 07064480 c:FullAccounts 2022-04-01 2023-06-30 07064480 c:PrivateLimitedCompanyLtd 2022-04-01 2023-06-30 07064480 f:PoundSterling 2022-04-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 07064480










PRINGLETON LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2023

 
PRINGLETON LTD
REGISTERED NUMBER: 07064480

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

30 June
31 March
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
16,141
20,946

  
16,141
20,946

Current assets
  

Stocks
  
120,833
115,080

Debtors: amounts falling due after more than one year
 6 
14,000
14,000

Debtors: amounts falling due within one year
 6 
981,857
457,285

Cash at bank and in hand
  
43,000
466,056

  
1,159,690
1,052,421

Creditors: amounts falling due within one year
 7 
(214,883)
(293,981)

Net current assets
  
 
 
944,807
 
 
758,440

Total assets less current liabilities
  
960,948
779,386

Creditors: amounts falling due after more than one year
 8 
(20,922)
(33,040)

Provisions for liabilities
  

Deferred tax
  
(3,352)
(3,287)

  
 
 
(3,352)
 
 
(3,287)

Net assets
  
936,674
743,059


Capital and reserves
  

Called up share capital 
  
80,000
80,000

Profit and loss account
  
856,674
663,059

  
936,674
743,059


Page 1

 
PRINGLETON LTD
REGISTERED NUMBER: 07064480
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 January 2024.




Mr M Shah
Mrs S Davda
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

1.


General information

Pringleton Ltd is a private company, limited by share capital, incorporated in England and Wales under registration number 07064480. The address of the registered office is 37 Warren Street London W1T 6AD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Page 3

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years straight line

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold improvement
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 16 (2022 - 13).

Page 6

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

4.


Intangible assets






Goodwill

£



Cost


At 1 April 2022
273,906



At 30 June 2023

273,906



Amortisation


At 1 April 2022
273,906



At 30 June 2023

273,906



Net book value



At 30 June 2023
-



At 31 March 2022
-



Page 7

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

5.


Tangible fixed assets







Leasehold and property improve-ments
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2022
45,283
95,526
140,809


Additions
-
577
577



At 30 June 2023

45,283
96,103
141,386



Depreciation


At 1 April 2022
41,637
78,226
119,863


Charge for the period on owned assets
911
4,469
5,380



At 30 June 2023

42,548
82,695
125,243



Net book value



At 30 June 2023
2,735
13,408
16,143



At 31 March 2022
3,646
17,300
20,946

Page 8

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

6.


Debtors

30 June
31 March
2023
2022
£
£

Due after more than one year

Rent deposit
14,000
14,000

14,000
14,000


30 June
31 March
2023
2022
£
£

Due within one year

Trade debtors
98,456
92,637

Amounts owed by group undertakings
488,832
8,652

VAT repayable
25,249
25,530

Section 455 tax repayable
85,036
75,919

Directors' loan accounts
260,611
233,597

Prepayments and accrued income
23,673
20,950

981,857
457,285



7.


Creditors: Amounts falling due within one year

30 June
31 March
2023
2022
£
£

Bank loans
10,648
10,648

Trade creditors
188,159
184,095

Other creditors
-
24,200

Corporation tax payable
12,610
69,539

PAYE and NI payable
1,634
3,783

Pension payable
582
398

Accruals and deferred income
1,250
1,318

214,883
293,981


The bank loan is an unsecured bounce back loan.

Page 9

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

8.


Creditors: Amounts falling due after more than one year

30 June
31 March
2023
2022
£
£

Bank loans
20,922
33,040

20,922
33,040


The bank loan is an unsecured bounce back loan.


9.


Controlling party

Allchin Holdings Limited owns 100% of the share capital in Pringleton Ltd. There is no ultimate controlling party.

 
Page 10