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REGISTERED NUMBER: 07175163 (England and Wales)















Unaudited Financial Statements

for the Period 1 January 2023 to 30 June 2023

for

PROSPERITY WEALTH AND DEVELOPMENTS
LIMITED

PROSPERITY WEALTH AND DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 07175163)

Contents of the Financial Statements
for the Period 1 January 2023 to 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROSPERITY WEALTH AND DEVELOPMENTS
LIMITED

Company Information
for the Period 1 January 2023 to 30 June 2023







DIRECTOR: J E Billingham



REGISTERED OFFICE: c/o BTMR Limited
Century Buildings
14 St. Mary's Parsonage
Manchester
Lancashire
M3 2DF



REGISTERED NUMBER: 07175163 (England and Wales)



ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: Barclays Plc
79-84 High St
Birmingham
B4 7TE

PROSPERITY WEALTH AND DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 07175163)

Balance Sheet
30 June 2023

30.6.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 110,840 92,037

CURRENT ASSETS
Debtors 5 7,204,184 7,206,442
Cash at bank 852,877 269,376
8,057,061 7,475,818
CREDITORS
Amounts falling due within one year 6 6,675,879 6,629,396
NET CURRENT ASSETS 1,381,182 846,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,492,022

938,459

CREDITORS
Amounts falling due after more than one
year

7

22,500

27,500
NET ASSETS 1,469,522 910,959

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,469,521 910,958
SHAREHOLDERS' FUNDS 1,469,522 910,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2023 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 5 September 2024 and were signed by:




J E Billingham - Director


PROSPERITY WEALTH AND DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 07175163)

Notes to the Financial Statements
for the Period 1 January 2023 to 30 June 2023


1. STATUTORY INFORMATION

Prosperity Wealth and Developments 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 accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are initially recorded at cost.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2022 - 10 ) .

PROSPERITY WEALTH AND DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 07175163)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 111,056 79,071 - 26,287 216,414
Additions - 19,401 6,995 3,314 29,710
At 30 June 2023 111,056 98,472 6,995 29,601 246,124
DEPRECIATION
At 1 January 2023 61,036 41,452 - 21,889 124,377
Charge for period 3,751 4,277 1,154 1,725 10,907
At 30 June 2023 64,787 45,729 1,154 23,614 135,284
NET BOOK VALUE
At 30 June 2023 46,269 52,743 5,841 5,987 110,840
At 31 December 2022 50,020 37,619 - 4,398 92,037

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 31.12.22
£    £   
Trade debtors - 7,163
Amounts owed by related party companies 5,849,651 6,987,328
Other debtors 1,354,533 211,951
7,204,184 7,206,442

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 100,178 145,266
Amounts owed to related party companies 1,736,161 1,359,962
Taxation and social security 183,600 88,684
Other creditors 4,645,940 5,025,484
6,675,879 6,629,396

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 31.12.22
£    £   
Bank loans 22,500 27,500

PROSPERITY WEALTH AND DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 07175163)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 31.12.22
£    £   
Within one year 30,000 30,000
Between one and five years 120,000 120,000
In more than five years 15,000 30,000
165,000 180,000

9. RELATED PARTY DISCLOSURES

At the end of the period a loan of £1,310,811 (2022 - £157,417) was due to the company from a director. Interest has been charged on this loan at rate of 2.25% per annum. This loan was repaid after the balance sheet date.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J Billingham by virtue of 100% shareholding.