Registered number
10281172
PR1 Consulting Limited
Unaudited Filleted Accounts
31 July 2023
PR1 Consulting Limited
Registered number: 10281172
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 552 130
Current assets
Debtors 4 14,763 -
Cash at bank and in hand 270 500
15,033 500
Creditors: amounts falling due within one year 5 (37,838) (36,055)
Net current liabilities (22,805) (35,555)
Total assets less current liabilities (22,253) (35,425)
Creditors: amounts falling due after more than one year 6 (4,459) (5,904)
Provisions for liabilities (20) (25)
Net liabilities (26,732) (41,354)
Capital and reserves
Called up share capital 100 100
Profit and loss account (26,832) (41,454)
Shareholders' funds (26,732) (41,354)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Reynolds
Director
Approved by the board on 30 April 2024
PR1 Consulting Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Grants received
Grants received are accounted for using the accrual model and are recognised in the profit and loss in the periods in which the related costs or expenses are recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 August 2022 366
Additions 560
At 31 July 2023 926
Depreciation
At 1 August 2022 236
Charge for the year 138
At 31 July 2023 374
Net book value
At 31 July 2023 552
At 31 July 2022 130
4 Debtors 2023 2022
£ £
Other debtors 14,763 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,615 1,361
Trade creditors 3,465 1,998
Taxation and social security costs 32,758 30,456
Other creditors - 2,240
37,838 36,055
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 4,459 5,904
7 Going concern
The director recognises that the company has an insolvent balance sheet and confirms that he will continue to support the company until it is in a solvent position again.
8 Related party transactions
During the 2022 and 2023year ends P. Reynolds, director, did not receive dividends in his capacity as shareholder.

At the year end P. Reynolds, the director, owed the company £11,505. Interest is charged at 2.5%. (2022 - had advanced the company £2,240.)
9 Controlling party
During the year ending 31 July 2023, P. Reynolds, the director, controlled the company along with a close family member by virtue of a controlling interest in 100% of the issued ordinary share capital.
10 Other information
PR1 Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
6-7 Castle Gate
Castle Street
Hertford
Herts
SG14 1HD
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