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REGISTERED NUMBER: 00977296 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

PRUWAY INVESTMENTS LIMITED

PRUWAY INVESTMENTS LIMITED (Registered number: 00977296)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRUWAY INVESTMENTS LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Sir Martin Sorrell
M.R.A. Sorrell





REGISTERED OFFICE: 4 Quex Road
London
NW6 4PJ





REGISTERED NUMBER: 00977296 (England and Wales)





ACCOUNTANTS: Purcells
Chartered Accountants
4 Quex Road
London
NW6 4PJ

PRUWAY INVESTMENTS LIMITED (Registered number: 00977296)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 1,900,000 1,900,000
Investments 4 50,231 52,557
1,950,231 1,952,557

CURRENT ASSETS
Cash at bank 1,484,165 1,488,092

CREDITORS
Amounts falling due within one year 5 16,314 13,428
NET CURRENT ASSETS 1,467,851 1,474,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,418,082

3,427,221

CREDITORS
Amounts falling due after more than one
year

6

297,814

298,279
NET ASSETS 3,120,268 3,128,942

CAPITAL AND RESERVES
Called up share capital 7 2,100 2,100
Fair value reserve 8 1,586,872 1,588,733
Retained earnings 1,531,296 1,538,109
SHAREHOLDERS' FUNDS 3,120,268 3,128,942

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

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

PRUWAY INVESTMENTS LIMITED (Registered number: 00977296)

Balance Sheet - continued
31 March 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 28 March 2024 and were signed on its behalf by:





Sir Martin Sorrell - Director


PRUWAY INVESTMENTS LIMITED (Registered number: 00977296)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. 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, modified by the revaluation of fixed assets..

Freehold investment land
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

The freehold investment land is stated at market value and any surplus on revaluation is credited to the profit and loss account as non distributable reserve.

Investments
Fixed asset investments are stated at market value and any gains or losses are recognised through the profit and loss account as fair value.

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 taxation
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.

2. EMPLOYEES AND DIRECTORS

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

3. TANGIBLE FIXED ASSETS


Freehold
investment land
Valuation£
At 1 April 2022 and 31 March 20231,900,000


The freehold investment land was revalued at 31 March 2023 by the company's directors on an open market value basis. If this land was not included at valuation, it would be included under the historical cost convention at its original cost of £59,570.

PRUWAY INVESTMENTS LIMITED (Registered number: 00977296)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. FIXED ASSET INVESTMENTS

31.3.23 31.3.22
£ £
Listed investments 50,231 52,557


The historical cost of the shares is £5,975

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Directors' loan account 4,124 4,124
Other creditors and accruals 12,190 9,304
16,314 13,428

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Deferred tax 297,814 298,279

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2,100 Ordinary £1 2,100 2,100

PRUWAY INVESTMENTS LIMITED (Registered number: 00977296)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. RESERVES



10.1 Freehold investment land
Fair value
reserve: Freehold
investment land


Deferred tax

Total fair
value reserve
£ £ £
Balance at 1 April 20221,840,430(290,044)1,550,386
Deferred tax provision - - -

Balance at 31 March 2023 1,840,430 (290,044) 1,550,386





10.2 Fixed asset investments
Fair value
reserve: Fixed
asset investments


Deferred tax

Total fair
value reserve
£ £ £
Balance at 1 April 202246,582(8,235)38,347
increase-(decrease) in fair value/ Deferred tax provision (2,326) 465 (1,861)

44,256 (7,770) 36,486

Total deferred tax/ fair value reserve (297,814) 1,586,872
10.3 Retained earnings:

31.3.2331.3.22
£ £
Balance at 1 April 2022/ 1 April 20211,538,1091,548,748
Net loss (6,813) (10,629)

Balance at 31 March 2023/31 March 2022 1,531,296 1,538,109