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REGISTERED NUMBER: 10270034 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

PRINCI INTERNATIONAL LIMITED

PRINCI INTERNATIONAL LIMITED (REGISTERED NUMBER: 10270034)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRINCI INTERNATIONAL LIMITED

Company Information
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: R Princi
A Aimar





REGISTERED OFFICE: 111 Park Street, Mayfair
London
W1K 7JF





REGISTERED NUMBER: 10270034 (England and Wales)





ACCOUNTANTS: A.C.T. London Limited
27 Hill Street
Mayfair, London
W1J 5LP

PRINCI INTERNATIONAL LIMITED (REGISTERED NUMBER: 10270034)

Balance Sheet
31 JULY 2023

31.7.23 31.7.22
Notes $ $
FIXED ASSETS
Investments 4 908,189 908,189

CURRENT ASSETS
Debtors 5 3,076,784 2,849,024
Cash at bank 650,613 852,099
3,727,397 3,701,123
CREDITORS
Amounts falling due within one year 6 (2,132,045 ) (1,990,117 )
NET CURRENT ASSETS 1,595,352 1,711,006
TOTAL ASSETS LESS CURRENT LIABILITIES 2,503,541 2,619,195

CREDITORS
Amounts falling due after more than one year 7 (1,143,733 ) (1,107,592 )
NET ASSETS 1,359,808 1,511,603

CAPITAL AND RESERVES
Called up share capital 65 65
Retained earnings 1,359,743 1,511,538
1,359,808 1,511,603

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





A Aimar - Director


PRINCI INTERNATIONAL LIMITED (REGISTERED NUMBER: 10270034)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Princi International 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.

The financial statements are prepared in US Dollars($), which is the functional currency of the entity.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are the valuation of fixed assets investments, accrued expenses and accrued income.

These estimates and underlying assumptions are reviewed on an ongoing-basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future period affected.

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

Investments in associates
Investments in associate undertakings are recognised at cost.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into US Dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US Dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purpose of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

PRINCI INTERNATIONAL LIMITED (REGISTERED NUMBER: 10270034)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4. FIXED ASSET INVESTMENTS
Interest in
joint Interest in
venture associate Totals
$ $ $
COST
At 1 August 2022
and 31 July 2023 300,000 608,189 908,189
NET BOOK VALUE
At 31 July 2023 300,000 608,189 908,189
At 31 July 2022 300,000 608,189 908,189

The entity owns 50% of the equity share capital of Conifer Ventures Limited, a company incorporated in England and Wales. The entity also owns 30% of the equity share capital of Princi UK Limited.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
$ $
Other debtors 3,039,030 2,816,083
VAT 31,049 27,041
Called up share capital not paid 66 66
Prepayments and accrued income 6,639 5,834
3,076,784 2,849,024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
$ $
Trade creditors 3,153 10,591
Tax - 4,808
Other creditors 2,091,766 1,941,648
Accruals and deferred income 37,126 33,070
2,132,045 1,990,117

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
$ $
Shareholders loan 563,678 584,729
Other creditors 580,055 522,863
1,143,733 1,107,592

8. RELATED PARTY DISCLOSURES

No other transactions with related parties were undertaken such as are required to be disclosed under FRS102 (1A).