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REGISTERED NUMBER: 09439175 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Prism Property Limited

Prism Property Limited (Registered number: 09439175)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Prism Property Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr I M Waldren





REGISTERED OFFICE: Trade Fair House
2 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD





REGISTERED NUMBER: 09439175 (England and Wales)





ACCOUNTANTS: Accsys Accountants Limited
Chartered Accountants
Trade Fair House
2 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD

Prism Property Limited (Registered number: 09439175)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 9,236 12,354
9,236 12,354

CURRENT ASSETS
Debtors 6 5,071 660
Cash at bank 7,291 7,094
12,362 7,754
CREDITORS
Amounts falling due within one year 7 21,033 13,246
NET CURRENT LIABILITIES (8,671 ) (5,492 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

565

6,862

CREDITORS
Amounts falling due after more than one year 8 505 4,718
NET ASSETS 60 2,144

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 50 2,134
60 2,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 July 2024 and were signed by:



Mr I M Waldren - Director


Prism Property Limited (Registered number: 09439175)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Prism Property 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2016, has been fully amortised over its estimated life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 10,000
AMORTISATION
At 1 March 2023
and 29 February 2024 10,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

Prism Property Limited (Registered number: 09439175)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 23,799 774 24,573
DEPRECIATION
At 1 March 2023 11,807 412 12,219
Charge for year 2,998 120 3,118
At 29 February 2024 14,805 532 15,337
NET BOOK VALUE
At 29 February 2024 8,994 242 9,236
At 28 February 2023 11,992 362 12,354

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 5,071 660

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 826 493
Hire purchase contracts 3,386 4,938
Trade creditors 3,786 738
Taxation and social security 10,128 7,044
Other creditors 2,907 33
21,033 13,246

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 505 1,332
Hire purchase contracts - 3,386
505 4,718