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Registration number: 13068608

Prosper 2020 Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 December 2023

 

Prosper 2020 Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 5

 

Prosper 2020 Limited

Company Information

Directors

Mr P F Davis

Mr. P J Davis

Mr R B C Davis

Mrs S J Teague

Registered office


Neuadd Ddu
Llangurig
Llanidloes
Powys
SY18 6RX
 

Bankers

Starling Bank
3rd Floor
2 Finsbury Avenue
London
EC2M 2PP
 

Accountants

W J James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Prosper 2020 Limited

(Registration number: 13068608)

Balance Sheet
as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

460,928

460,928

Current assets

 

Debtors

5

42,143

19,739

Cash at bank and in hand

 

290,206

143,124

 

332,349

162,863

Creditors: Amounts falling due within one year

6

(491,459)

(482,532)

Net current liabilities

 

(159,110)

(319,669)

Net assets

 

301,818

141,259

Capital and reserves

 

Called up share capital

4

4

Profit and loss account

301,814

141,255

Total equity

 

301,818

141,259

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Prosper 2020 Limited

(Registration number: 13068608)

Balance Sheet
as at 31 December 2023

Approved and authorised by the Board on 6 September 2024 and signed on its behalf by:
 

.........................................

Mr R B C Davis

Director

 

Prosper 2020 Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Neuadd Ddu
Llangurig
Llanidloes
Powys
SY18 6RX

These financial statements were authorised for issue by the Board on 6 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presnted in pounds staerling, which is the functional currency of the company, and rounded to the nearest £1.

Revenue recognition

Land fees are calculated on a monthly basis, and revenue is recognised in accordance with the fees due in the accounting period.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Prosper 2020 Limited

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

Trade debtors

Trade debtors consist of land fees calculated to the end of the end of the accounting period but not yet received by the company.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash received .

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Investment properties

2023
£

At 1 January

460,928

There has been no valuation of investment property by an independent valuer.

5

Debtors

2023
£

2022
£

Trade debtors

42,143

19,739

42,143

19,739

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

696

636

Other creditors

490,763

481,896

491,459

482,532