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REGISTERED NUMBER: 05813247 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

PROSPER HOME LOANS LIMITED

PROSPER HOME LOANS LIMITED (REGISTERED NUMBER: 05813247)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROSPER HOME LOANS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr P C McMath





REGISTERED OFFICE: 60 Sedlescombe Road North
St Leonards on Sea
East Sussex
TN37 7DT





REGISTERED NUMBER: 05813247 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

PROSPER HOME LOANS LIMITED (REGISTERED NUMBER: 05813247)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 433,539 439,973
433,539 439,973

CURRENT ASSETS
Debtors 6 880,302 772,302
Cash at bank 291,770 525,844
1,172,072 1,298,146
CREDITORS
Amounts falling due within one year 7 69,783 144,877
NET CURRENT ASSETS 1,102,289 1,153,269
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,535,828

1,593,242

CREDITORS
Amounts falling due after more than one
year

8

(231,853

)

(263,520

)

PROVISIONS FOR LIABILITIES 11 (5,559 ) (5,448 )
NET ASSETS 1,298,416 1,324,274

CAPITAL AND RESERVES
Called up share capital 12 300 200
Retained earnings 1,298,116 1,324,074
SHAREHOLDERS' FUNDS 1,298,416 1,324,274

PROSPER HOME LOANS LIMITED (REGISTERED NUMBER: 05813247)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 January 2024 and were signed by:





Mr P C McMath - Director


PROSPER HOME LOANS LIMITED (REGISTERED NUMBER: 05813247)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Prosper Home Loans 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.

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 sales of services, excluding value added tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, 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.
Freehold property - NIL
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PROSPER HOME LOANS LIMITED (REGISTERED NUMBER: 05813247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

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.

GOVERNMENT GRANTS
Grants receivable under the government's COVID support schemes are recognised as other operating income within the profit and loss account when there is reasonable assurance that the entity will comply with the conditions attached to the grant and that the grant income will be received. The income is taxable and amounts not received by the reporting date are included in other debtors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 June 2022
and 31 May 2023 91,000
Amortisation
At 1 June 2022
and 31 May 2023 91,000
Net book value
At 31 May 2023 -
At 31 May 2022 -

PROSPER HOME LOANS LIMITED (REGISTERED NUMBER: 05813247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Cost
At 1 June 2022 411,301 40,870 33,868 40,758 526,797
Additions - 214 - - 214
At 31 May 2023 411,301 41,084 33,868 40,758 527,011
Depreciation
At 1 June 2022 - 24,995 24,438 37,391 86,824
Charge for year - 4,009 1,415 1,224 6,648
At 31 May 2023 - 29,004 25,853 38,615 93,472
Net book value
At 31 May 2023 411,301 12,080 8,015 2,143 433,539
At 31 May 2022 411,301 15,875 9,430 3,367 439,973

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 880,302 772,302

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 24,491 35,139
Trade creditors 2,674 3,284
Tax 16,767 38,056
Social security and other taxes 1,823 1,865
Other creditors 19,653 62,245
Directors' current accounts 740 648
Accruals and deferred income 3,635 3,640
69,783 144,877

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 231,853 263,520

PROSPER HOME LOANS LIMITED (REGISTERED NUMBER: 05813247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 133,890 149,885

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 24,491 35,139

Amounts falling due between one and two years:
Bank loans - 1-2 years 24,491 35,139

Amounts falling due between two and five years:
Bank loans - 2-5 years 73,472 78,496

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 133,890 149,885

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 256,344 272,339

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 5,559 5,448

PROSPER HOME LOANS LIMITED (REGISTERED NUMBER: 05813247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 5,448
Provided during year 111
Balance at 31 May 2023 5,559

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
100 Non Voting Preference £1 100 100
100 Ordinary A & B £1 100 -
300 200