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REGISTERED NUMBER: 05163577 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

PRN Developments Limited

PRN Developments Limited (Registered number: 05163577)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRN Developments Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P R Nicholson





REGISTERED OFFICE: 9 Acton Hill Mews
Uxbridge Road
London
W3 9QN





REGISTERED NUMBER: 05163577 (England and Wales)






PRN Developments Limited (Registered number: 05163577)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,717,594 2,229,833

CURRENT ASSETS
Cash at bank and in hand 612,433 966,081

CREDITORS
Amounts falling due within one year 5 21,614 17,427
NET CURRENT ASSETS 590,819 948,654
TOTAL ASSETS LESS CURRENT LIABILITIES 3,308,413 3,178,487

CREDITORS
Amounts falling due after more than one
year

6

1,939,051

1,863,086
NET ASSETS 1,369,362 1,315,401

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,369,361 1,315,400
SHAREHOLDERS' FUNDS 1,369,362 1,315,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





P R Nicholson - Director


PRN Developments Limited (Registered number: 05163577)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

PRN 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property property Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 2,180,876 226,545 2,407,421
Additions 500,000 - 500,000
At 31 March 2024 2,680,876 226,545 2,907,421
DEPRECIATION
At 1 April 2023 - 177,588 177,588
Charge for year - 12,239 12,239
At 31 March 2024 - 189,827 189,827
NET BOOK VALUE
At 31 March 2024 2,680,876 36,718 2,717,594
At 31 March 2023 2,180,876 48,957 2,229,833

Cost or valuation at 31 March 2024 is represented by:

Improvements
Freehold to
property property Totals
£    £    £   
Valuation in 2006 439,418 - 439,418
Cost 2,241,458 226,545 2,468,003
2,680,876 226,545 2,907,421

PRN Developments Limited (Registered number: 05163577)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 18,747 14,560
Accrued expenses 2,867 2,867
21,614 17,427

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans > 1 year 791,398 791,398
Directors' loan account 1,147,653 1,071,688
1,939,051 1,863,086

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is Mr. Philip Nicholson.