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Prova Investments Limited
Financial Statements
For The Year Ended 31 March 2024
Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Prova Investments Limited For The Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Prova Investments Limited For The Year Ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Prova Investments Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Prova Investments Limited and state those matters that we have agreed to state to the director of Prova Investments Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prova Investments Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Prova Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Prova Investments Limited . You consider that Prova Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Prova Investments Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
11 July 2024
Cooper Adams Ltd
Chartered Accountants
12 Payton Street
Stratford upon Avon
Warwickshire
CV37 6UA
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Balance Sheet
Registered number: 07260714
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 3 2,508,372 2,513,995
Investments 4 10 10
2,508,382 2,514,005
CURRENT ASSETS
Debtors 186 -
Investments 5 199,967 93,769
Cash at bank and in hand 185,259 118,039
385,412 211,808
Creditors: Amounts Falling Due Within One Year (165,158 ) (150,074 )
NET CURRENT ASSETS (LIABILITIES) 220,254 61,734
TOTAL ASSETS LESS CURRENT LIABILITIES 2,728,636 2,575,739
PROVISIONS FOR LIABILITIES
Deferred taxation (106,897 ) (106,897 )
NET ASSETS 2,621,739 2,468,842
CAPITAL AND RESERVES
Called up share capital 6 10 10
Profit and Loss Account 2,621,729 2,468,832
SHAREHOLDERS' FUNDS 2,621,739 2,468,842
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Postins
Director
11 July 2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Prova Investments Limited is the parent undertaking of a subsidiary, Prova Public Relations Limited. The group is small and therefore not required to prepare group accounts.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & machinery 25% reducing balance
Fixtures & fittings 25% reducing balance
1.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
1.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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1.6. Current Asset Investments
Current asset investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Changes in fair value are recognised in the income statement.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
3. Tangible assets
Investment properties Plant & machinery Fixtures & fittings Total
£ £ £ £
Cost or Valuation
As at 1 April 2023 2,400,000 208,785 1,750 2,610,535
Additions - 30,440 - 30,440
As at 31 March 2024 2,400,000 239,225 1,750 2,640,975
Depreciation
As at 1 April 2023 - 95,686 854 96,540
Provided during the period - 35,884 179 36,063
As at 31 March 2024 - 131,570 1,033 132,603
Net Book Value
As at 31 March 2024 2,400,000 107,655 717 2,508,372
As at 1 April 2023 2,400,000 113,099 896 2,513,995
The analysis of the cost or valuation of the above assets is as follows:
Investment properties Plant & machinery Fixtures & fittings Total
£ £ £ £
As at 31 March 2024
At cost 1,972,411 239,225 1,750 2,213,386
At valuation 427,589 - - 427,589
2,400,000 239,225 1,750 2,640,975
As at 1 April 2023
At cost 1,972,411 208,785 1,750 2,182,946
At valuation 427,589 - - 427,589
2,400,000 208,785 1,750 2,610,535
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4. Investments
Unlisted
£
Cost
As at 1 April 2023 10
As at 31 March 2024 10
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 10
As at 1 April 2023 10
The £10 investment represents a 100% investment in Prova Public Relations Limited.
5. Current Asset Investments
2024 2023
£ £
Listed investments 152,020 54,393
Unlisted investments 47,947 39,376
199,967 93,769
The cost of current asset listed investments at the balance sheet date was £150,466 (2023: £71,300).
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
7. General Information
Prova Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07260714 . The registered office is 12 Payton Street, Stratford upon Avon, Warwickshire, CV37 6UA.
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