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COMPANY REGISTRATION NUMBER: 00502373
PRIORY HILL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
PRIORY HILL LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
5
768,206
744,584
CURRENT ASSETS
Stocks
40,000
115,000
Debtors
6
1,177,639
1,057,238
Cash at bank and in hand
149,954
137,160
-------------
-------------
1,367,593
1,309,398
CREDITORS: amounts falling due within one year
7
217,225
251,819
-------------
-------------
NET CURRENT ASSETS
1,150,368
1,057,579
-------------
-------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,918,574
1,802,163
CREDITORS: amounts falling due after more than one year
8
441,121
401,107
-------------
-------------
NET ASSETS
1,477,453
1,401,056
-------------
-------------
CAPITAL AND RESERVES
Called up share capital
15,000
15,000
Share premium account
1,075
1,075
Capital redemption reserve
13,065
13,065
Profit and loss account
1,448,313
1,371,916
-------------
-------------
SHAREHOLDERS FUNDS
1,477,453
1,401,056
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PRIORY HILL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
Mr PS Butcher
Mr J Butcher
Director
Director
Company registration number: 00502373
PRIORY HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 High Street, St Lawrence, Ramsgate, Kent, CT11 0QL.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fully depreciated
-
-% straight line
Plant and machinery
-
10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 43 (2022: 43 ).
5. TANGIBLE ASSETS
Freehold property
Long leasehold property
Plant and machinery
Total
£
£
£
£
Cost
At 1 January 2023
504,837
38,541
869,233
1,412,611
Additions
52,886
52,886
----------
---------
----------
-------------
At 31 December 2023
504,837
38,541
922,119
1,465,497
----------
---------
----------
-------------
Depreciation
At 1 January 2023
38,541
629,486
668,027
Charge for the year
29,264
29,264
----------
---------
----------
-------------
At 31 December 2023
38,541
658,750
697,291
----------
---------
----------
-------------
Carrying amount
At 31 December 2023
504,837
263,369
768,206
----------
---------
----------
-------------
At 31 December 2022
504,837
239,747
744,584
----------
---------
----------
-------------
6. DEBTORS
2023
2022
£
£
Trade debtors
75,177
51,917
Other debtors
1,102,462
1,005,321
-------------
-------------
1,177,639
1,057,238
-------------
-------------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
174,255
220,157
Corporation tax
42,970
31,662
----------
----------
217,225
251,819
----------
----------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Other creditors
441,121
401,107
----------
----------
9. RELATED PARTY TRANSACTIONS
The company was under the control of the majority shareholder, Mr PS Butcher . The Company is involved with the Shareholders in a Caravan Site, trading as Nutts Farm (Partnership). The Company is the majority investor and receives a distribution of profits annually.