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REGISTERED NUMBER: 06927838 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

PROSPERITY LIVING LIMITED

PREVIOUSLY KNOWN AS
PDC INVESTMENTS UK LIMITED

PROSPERITY LIVING LIMITED (REGISTERED NUMBER: 06927838)
PREVIOUSLY KNOWN AS PDC INVESTMENTS UK LIMITED

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROSPERITY LIVING LIMITED
PREVIOUSLY KNOWN AS PDC INVESTMENTS UK LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J E Billingham



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



REGISTERED NUMBER: 06927838 (England and Wales)



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



BANKERS: Barclays Bank Plc
Leicester
LE87 2BB

PROSPERITY LIVING LIMITED (REGISTERED NUMBER: 06927838)
PREVIOUSLY KNOWN AS PDC INVESTMENTS UK LIMITED

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,230,000 1,674,432

CURRENT ASSETS
Debtors 5 52,969 29,652
Cash at bank 15,746 19,040
68,715 48,692
CREDITORS
Amounts falling due within one year 6 28,432 456,412
NET CURRENT ASSETS/(LIABILITIES) 40,283 (407,720 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,270,283

1,266,712

CREDITORS
Amounts falling due after more than one
year

7

310,000

447,119
NET ASSETS 960,283 819,593

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings - not distributable 655,355 655,355
Retained earnings 304,926 164,236
SHAREHOLDERS' FUNDS 960,283 819,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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 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 Income Statement 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 LIVING LIMITED (REGISTERED NUMBER: 06927838)
PREVIOUSLY KNOWN AS PDC INVESTMENTS UK LIMITED

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Prosperity Living 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 as modified by the revaluation of certain assets.

Investment property
Tangible fixed assets include investment properties professionally valued on an existing use open market value basis.

Investment properties are included in the balance sheet at their open market value.

Although this accounting policy is in accordance with FRS 102, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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 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 year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 1,674,432
Disposals (444,432 )
At 31 December 2023 1,230,000
NET BOOK VALUE
At 31 December 2023 1,230,000
At 31 December 2022 1,674,432

PROSPERITY LIVING LIMITED (REGISTERED NUMBER: 06927838)
PREVIOUSLY KNOWN AS PDC INVESTMENTS UK LIMITED

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. INVESTMENT PROPERTY - continued

The director has valued the investment properties at open market value. No depreciation is provided in respect of these properties.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2020 254,865
Valuation in 2022 400,489
Cost 574,646
1,230,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by related party companies 50,580 25,607
Other debtors 2,100 2,705
Prepayments and accrued income 289 1,340
52,969 29,652

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 20,001 26,507
Trade creditors 1,326 1,958
Amounts owed to related party companies 2,442 421,876
Accrued expenses 4,663 6,071
28,432 456,412

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 20,000 26,507
Bank loans - 2-5 years 60,000 79,520
Bank loans more 5 yr by instal 230,000 341,092
310,000 447,119

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 230,000 341,092

PROSPERITY LIVING LIMITED (REGISTERED NUMBER: 06927838)
PREVIOUSLY KNOWN AS PDC INVESTMENTS UK LIMITED

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 330,000 473,626

The loan is secured by a fixed and floating charge over the assets of the company.

Additionally, bank debt is secured by way of a debenture in the bank's standard form. The company has also granted a cross guarantee in favour of monies owed to the bank by Churchgate Commercial Holdings Limited, Churchgate Investments UK Limited, Prosperity Wealth Secured Loan Note Limited and Prosperity Wealth Group Limited, companies that are under common control and ownership

9. ULTIMATE CONTROLLING PARTY

The controlling party is J E Billingham.