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REGISTERED NUMBER: 11788725 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PROSPERGATE UK LIMITED

PROSPERGATE UK LIMITED (REGISTERED NUMBER: 11788725)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROSPERGATE UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr M Orologas





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 11788725 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

PROSPERGATE UK LIMITED (REGISTERED NUMBER: 11788725)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Stocks 4 7,886,943 7,595,309
Debtors 5 100 100
Cash at bank 300,286 482,181
8,187,329 8,077,590
CREDITORS
Amounts falling due within one year 6 287,229 168,771
NET CURRENT ASSETS 7,900,100 7,908,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,900,100

7,908,819

CREDITORS
Amounts falling due after more than one
year

7

7,900,000

7,908,719
NET ASSETS 100 100

CAPITAL AND RESERVES
Called up share capital 9 100 100
SHAREHOLDERS' FUNDS 100 100

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

PROSPERGATE UK LIMITED (REGISTERED NUMBER: 11788725)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2024 and were signed by:





Mr M Orologas - Director


PROSPERGATE UK LIMITED (REGISTERED NUMBER: 11788725)

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


1. STATUTORY INFORMATION

Prospergate UK 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. STOCKS
31.12.23 31.12.22
£    £   
Closing work in progress 7,886,943 7,595,309

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Called up share capital not paid 100 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 8) - 13,162
Accrued loan interest 282,669 151,289
Accruals 4,560 4,320
287,229 168,771

PROSPERGATE UK LIMITED (REGISTERED NUMBER: 11788725)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 8) 2,000,000 2,008,719
Amounts owed to group undertakings 5,900,000 5,900,000
7,900,000 7,908,719

8. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 13,162

Amounts falling due between two and five years:
Bank loans 2,000,000 2,008,719

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Share capital 1 £1 100 100

10. RELATED PARTY

The company is a wholly owned subsidiary of Prospergate Fund V.C.I.C AIFLNP Ltd a company incorporated in Cyprus.

As at the year end, the parent company loaned £5,900,000 to Prospergate Uk Ltd.