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REGISTERED NUMBER: 04997883 (England and Wales)

















P.R.N. Properties Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






P.R.N. Properties Limited (Registered number: 04997883)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P.R.N. Properties Limited

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: Mr P S Rowbotham





REGISTERED OFFICE: 9 Market Place
Hedon
East Yorkshire
HU12 8JA





REGISTERED NUMBER: 04997883 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

P.R.N. Properties Limited (Registered number: 04997883)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,187 83
Investment property 5 778,700 778,700
779,887 778,783

CURRENT ASSETS
Debtors 6 3,449 1,689
Cash at bank 21,832 75,810
25,281 77,499
CREDITORS
Amounts falling due within one year 7 645,850 707,022
NET CURRENT LIABILITIES (620,569 ) (629,523 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

159,318

149,260

PROVISIONS FOR LIABILITIES 6,906 6,694
NET ASSETS 152,412 142,566

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 8 100,653 100,653
Retained earnings 8 51,757 41,911
SHAREHOLDERS' FUNDS 152,412 142,566

P.R.N. Properties Limited (Registered number: 04997883)

BALANCE SHEET - continued
31 December 2023


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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





Mr P S Rowbotham - Director


P.R.N. Properties Limited (Registered number: 04997883)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

P.R.N. Properties 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.
Fixtures and fittings - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

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

P.R.N. Properties Limited (Registered number: 04997883)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 - 1,175 1,175
Additions 1,500 - 1,500
At 31 December 2023 1,500 1,175 2,675
DEPRECIATION
At 1 January 2023 - 1,092 1,092
Charge for year 375 21 396
At 31 December 2023 375 1,113 1,488
NET BOOK VALUE
At 31 December 2023 1,125 62 1,187
At 31 December 2022 - 83 83

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Plant and and
machinery fittings Totals
£    £    £   
Cost 1,500 1,175 2,675

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 778,700
NET BOOK VALUE
At 31 December 2023 778,700
At 31 December 2022 778,700

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2015 9,267
Valuation in 2016 14,835
Valuation in 2017 15,000
Valuation in 2022 68,243
Cost 671,355
778,700

P.R.N. Properties Limited (Registered number: 04997883)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 671,355 671,355

The investment properties were valued on an open market value basis on 31 December 2022 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,125 1,420
Prepayments 324 269
3,449 1,689

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 456 -
Tax 2,097 1,417
S A Pharmacy Limited loan 641,227 671,079
Directors' current accounts 609 33,547
Accruals 1,461 979
645,850 707,022

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2023 41,911 100,653 142,564
Profit for the year 9,846 9,846
At 31 December 2023 51,757 100,653 152,410

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P S Rowbotham.