IRIS Accounts Production v24.1.9.2 02261576 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh022615762022-12-31022615762023-12-31022615762023-01-012023-12-31022615762021-12-31022615762022-01-012022-12-31022615762022-12-3102261576ns15:EnglandWales2023-01-012023-12-3102261576ns14:PoundSterling2023-01-012023-12-3102261576ns10:Director12023-01-012023-12-3102261576ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102261576ns10:SmallEntities2023-01-012023-12-3102261576ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3102261576ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3102261576ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102261576ns10:AbridgedAccounts2023-01-012023-12-310226157612023-01-012023-12-3102261576ns10:Director22023-01-012023-12-3102261576ns10:CompanySecretary12023-01-012023-12-3102261576ns10:RegisteredOffice2023-01-012023-12-3102261576ns5:CurrentFinancialInstruments2023-12-3102261576ns5:CurrentFinancialInstruments2022-12-3102261576ns5:Non-currentFinancialInstruments2023-12-3102261576ns5:Non-currentFinancialInstruments2022-12-3102261576ns5:ShareCapital2023-12-3102261576ns5:ShareCapital2022-12-3102261576ns5:RevaluationReserve2023-12-3102261576ns5:RevaluationReserve2022-12-3102261576ns5:RetainedEarningsAccumulatedLosses2023-12-3102261576ns5:RetainedEarningsAccumulatedLosses2022-12-3102261576ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102261576ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3102261576ns5:PlantMachinery2023-01-012023-12-3102261576ns5:RevaluationReserve2022-12-31
REGISTERED NUMBER: 02261576 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PREL LIMITED

PREL LIMITED (REGISTERED NUMBER: 02261576)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PREL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C D Grieves
Mrs J T Grieves





SECRETARY: Mrs J T Grieves





REGISTERED OFFICE: Park House
200 Drake Street
Rochdale
Lancs
OL16 1PJ





REGISTERED NUMBER: 02261576 (England and Wales)





ACCOUNTANTS: Wyatt Morris Golland Ltd
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ

PREL LIMITED (REGISTERED NUMBER: 02261576)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,096 6,823
Tangible assets 5 134,998 80,736
139,094 87,559

CURRENT ASSETS
Stocks 490,131 490,131
Debtors 6 1,761,837 1,662,702
Cash at bank 63,658 218,081
2,315,626 2,370,914
CREDITORS
Amounts falling due within one year 268,078 357,433
NET CURRENT ASSETS 2,047,548 2,013,481
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,186,642

2,101,040

CREDITORS
Amounts falling due after more than one year 7 (29,868 ) (35,460 )

PROVISIONS FOR LIABILITIES (7,384 ) (6,600 )
NET ASSETS 2,149,390 2,058,980

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 7,067 7,067
Retained earnings 2,141,323 2,050,913
2,149,390 2,058,980

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 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.

PREL LIMITED (REGISTERED NUMBER: 02261576)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 July 2024 and were signed on its behalf by:





C D Grieves - Director


PREL LIMITED (REGISTERED NUMBER: 02261576)

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

1. STATUTORY INFORMATION

PREL 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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 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 tax
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.

3. EMPLOYEES AND DIRECTORS

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

PREL LIMITED (REGISTERED NUMBER: 02261576)

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

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 60,000
AMORTISATION
At 1 January 2023 53,177
Amortisation for year 2,727
At 31 December 2023 55,904
NET BOOK VALUE

At 31 December 2023 4,096
At 31 December 2022 6,823

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 130,538
Additions 59,500
At 31 December 2023 190,038
DEPRECIATION
At 1 January 2023 49,802
Charge for year 5,238
At 31 December 2023 55,040
NET BOOK VALUE
At 31 December 2023 134,998
At 31 December 2022 80,736

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 960,409 1,190,409

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans 7,812 13,404

8. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 7,067

PREL LIMITED (REGISTERED NUMBER: 02261576)

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

9. RELATED PARTY DISCLOSURES

Included within debtors at 31 December 2023 is a balance of £1,083,096 due from Hallmark Developments (North West) Limited, a company controlled by Mr C. D. Grieves.