2023-01-012023-12-312023-12-31false12367764PRIME PROPERTIES ACQUISITIONS 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PRIME PROPERTIES ACQUISITIONS LTD

Registered Number
12367764
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

PRIME PROPERTIES ACQUISITIONS LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

D'APONTE, Attanasio

Registered Address

62 St. Martin's Lane
London
WC2N 4JS

Registered Number

12367764 (England and Wales)
PRIME PROPERTIES ACQUISITIONS LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets34,375,0004,375,000
4,375,0004,375,000
Current assets
Debtors899,081899,081
Cash at bank and on hand109,817179,461
1,008,8981,078,542
Creditors amounts falling due within one year4(250,388)(208,015)
Net current assets (liabilities)758,510870,527
Total assets less current liabilities5,133,5105,245,527
Creditors amounts falling due after one year5(2,670,000)(2,670,000)
Provisions for liabilities6(499,939)(499,939)
Net assets1,963,5712,075,588
Capital and reserves
Called up share capital11
Profit and loss account1,963,5702,075,587
Shareholders' funds1,963,5712,075,588
The financial statements were approved and authorised for issue by the Director on 3 September 2024, and are signed on its behalf by:
D'APONTE, Attanasio
Director
Registered Company No. 12367764
PRIME PROPERTIES ACQUISITIONS LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is not provided on land and buildings where the lease terms is greater than 21 years.
2.Average number of employees

20232022
Average number of employees during the year01
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 January 234,375,0004,375,000
At 31 December 234,375,0004,375,000
Net book value
At 31 December 234,375,0004,375,000
At 31 December 224,375,0004,375,000
4.Creditors: amounts due within one year

2023

2022

££
Other creditors205,914205,914
Accrued liabilities and deferred income44,4742,101
Total250,388208,015
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.
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts2,670,0002,670,000
Total2,670,0002,670,000
6.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)499,939499,939
Total499,939499,939