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REGISTERED NUMBER: 07914907 (England and Wales)















PRIORY ESTATES INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024






PRIORY ESTATES INVESTMENTS LTD (REGISTERED NUMBER: 07914907)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


PRIORY ESTATES INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: J Rees
Miss A Rees





REGISTERED OFFICE: Town Wall House
Balkerne Hill
Colchester
Essex
CO3 3AD





REGISTERED NUMBER: 07914907 (England and Wales)

PRIORY ESTATES INVESTMENTS LTD (REGISTERED NUMBER: 07914907)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 1,811,500 1,805,554

CURRENT ASSETS
Cash at bank 40,982 47,785

CREDITORS
Amounts falling due within one year 5 (302,747 ) (315,176 )
NET CURRENT LIABILITIES (261,765 ) (267,391 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,549,735 1,538,163

CREDITORS
Amounts falling due after more than one year 6 (914,519 ) (932,491 )

PROVISIONS FOR LIABILITIES (115,734 ) (86,828 )
NET ASSETS 519,482 518,844

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 379,968 402,928
Retained earnings 139,414 115,816
SHAREHOLDERS' FUNDS 519,482 518,844

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 23 September 2024 and were signed on its behalf by:





J Rees - Director


PRIORY ESTATES INVESTMENTS LTD (REGISTERED NUMBER: 07914907)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Priory Estates Investments Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents rents receivable by the company.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 February 2023 1,805,554
Revaluations 5,946
At 31 January 2024 1,811,500
NET BOOK VALUE
At 31 January 2024 1,811,500
At 31 January 2023 1,805,554

PRIORY ESTATES INVESTMENTS LTD (REGISTERED NUMBER: 07914907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. INVESTMENT PROPERTY - continued

Cost or valuation at 31 January 2024 is represented by:
£   
Valuation in 2017 32,982
Valuation in 2020 257,079
Valuation in 2022 208,195
Valuation in 2023 (8,500 )
Valuation in 2024 5,946
Cost 1,315,798
1,811,500

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to related undertakings 180,800 180,800
Taxation and social security 5,919 7,279
Other creditors 116,028 127,097
302,747 315,176

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 914,519 932,491

Amounts falling due in more than five years:

Repayable by instalments
Loans 914,519 932,491

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Loans 934,718 954,519

There are legal charges over the investment properties:

The National Westminster Bank has a fixed and floating charge
over the assets of the company dated 26 October 2021