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Prewco Limited
Registered Number:11731726
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2023
Prewco Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
11731726
As at 31 December 2023
Prewco Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
2
70,000
94,777
Investment property
Financial assets
41,387
48,262
3
118,262
136,164
Current assets
Trade and other receivables
520
918
4
507
Cash and cash equivalents
535
1,453
1,027
Trade and other payables: amounts falling due within one
year
(173,532)
(170,145)
5
(172,505)
(168,692)
Net current liabilities
Total assets less current liabilities
(50,430)
(36,341)
(50,430)
Net liabilities
(36,341)
Capital and reserves
Called up share capital
200
200
Fair value reserve
6,963
2,001
Retained earnings
(57,593)
(38,542)
(50,430)
(36,341)
Shareholders' funds
For the year ended 31 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
D Prew Director
These financial statements were approved and authorised for issue by the Board on 06 August 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2023
Prewco Limited
Notes to the Financial Statements
Statutory Information
Prewco Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
11731726.
Registered address:
Unit I, Encon Court
Owl Close
Northampton
Northamptonshire
NN3 6HZ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain fixed assets.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Financial Instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provisions of the instrument.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction
price.
Basic financial liabilities
Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the future payments discounted at a
market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Equity Instruments
Equity Instruments issued by the company are recorded at the proceeds received. Dividends payable on equity
instruments are recognised once they are no longer at the discretion of the company.
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5
For the year ended 31 December 2023
Prewco Limited
Notes to the Financial Statements Continued
2. Investment property
Total
£
Fair value
At 01 January 2023
94,777
Fair value adjustments
(24,777)
At 31 December 2023
70,000
Net book value
At 31 December 2023
70,000
At 31 December 2022
94,777
At the balance sheet date the company owned an investment property that originally cost £94,776. After the balance sheet date the property was sold for £70,000 and was therefore devalued to that level at the balance sheet date.
3. Investments held as fixed assets
Other investments
Shares in group
and
participating
interests
Total
At 01 January 2023
41,387
41,287
100
Cost
£
£
£
2,008
2,008
-
Additions
Disposals/Repayments
(99)
(99)
-
4,966
4,966
-
Revaluations
At 31 December 2023
100
48,162
48,262
At 31 December 2023
Net book value
100
48,162
48,262
At 01 January 2023
41,387
100
41,287
4. Trade and other receivables
2022
2023
£
£
Prepayments and accrued income
424
40
Other debtors
494
480
520
918
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6
For the year ended 31 December 2023
Prewco Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
157,071
149,821
Taxation and social security
400
1,526
Accruals and deferred income
1,075
1,436
Directors' loan accounts
11,599
20,749
170,145
173,532
6. Guarantees and other financial commitments
Lease commitments
At 31 December 2023 the company had annual commitments under non-cancellable operating leases as set out
below:
2022
£
2023
£
Operating leases which expire:
After more than 5 years
455
455
455
455
7. Average number of persons employed
During the year the average number of employees was 1 (2022 : 1)
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