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REGISTERED NUMBER: 09252695 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PROSPECT HOMES LIMITED

PROSPECT HOMES LIMITED (REGISTERED NUMBER: 09252695)






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


PROSPECT HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr S Patel
Ms R Patel





REGISTERED OFFICE: 204 Field End Road
Pinner
Middlesex
HA5 1RD





REGISTERED NUMBER: 09252695 (England and Wales)





ACCOUNTANTS: Waterfords Europe Limited t/a Jon Avol Waterfords
204 Field End Road
Eastcote
Middlesex
HA5 1RD

PROSPECT HOMES LIMITED (REGISTERED NUMBER: 09252695)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Investments 4 7 7

CURRENT ASSETS
Debtors 5 948,831 382,603
Cash at bank and in hand 19,334 544,779
968,165 927,382
CREDITORS
Amounts falling due within one year 6 (668,928 ) (674,393 )
NET CURRENT ASSETS 299,237 252,989
TOTAL ASSETS LESS CURRENT
LIABILITIES

299,244

252,996

CREDITORS
Amounts falling due after more than one
year

7

(25,818

)

(34,706

)
NET ASSETS 273,426 218,290

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 273,126 217,990
SHAREHOLDERS' FUNDS 273,426 218,290

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 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 19 September 2024 and were signed on its behalf by:





Mr S Patel - Director


PROSPECT HOMES LIMITED (REGISTERED NUMBER: 09252695)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

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

Revenue is recognised in the income statement when the significant risks and rewards of ownership have been transferred to the purchaser.
Revenue in respect of the sale of residential properties is recognised at the fair value of the consideration received or receivable on legal completion.

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

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 January 2023
and 31 December 2023 7
NET BOOK VALUE
At 31 December 2023 7
At 31 December 2022 7

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 948,831 382,603

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 2,270 8,486
Other creditors 666,658 665,907
668,928 674,393

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 25,818 34,706

PROSPECT HOMES LIMITED (REGISTERED NUMBER: 09252695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is an amount of £327,658 (2022: £327,658) owed to Mr S Patel.