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REGISTERED NUMBER: 11158903 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31st January 2024

for

PRL Young Ltd

PRL Young Ltd (Registered number: 11158903)






Contents of the Financial Statements
for the Year Ended 31st January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PRL Young Ltd

Company Information
for the Year Ended 31st January 2024







DIRECTOR: P R Young





SECRETARY:





REGISTERED OFFICE: C/O AMM
4 Longlands
West End Gardens
Fairford
Gloucestershire
GL7 4LG





REGISTERED NUMBER: 11158903 (England and Wales)





ACCOUNTANTS: AMM Bookkeeping & Accountancy
4 Longlands
West End Gardens
Fairford
Gloucestershire
GL7 4LG

PRL Young Ltd (Registered number: 11158903)

Statement of Financial Position
31st January 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 36,690 46,406

CURRENT ASSETS
Debtors 5 70,331 140,180
Cash at bank 23,540 7,574
93,871 147,754
CREDITORS
Amounts falling due within one year 6 (62,191 ) (139,652 )
NET CURRENT ASSETS 31,680 8,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,370

54,508

CREDITORS
Amounts falling due after more than one year 7 (25,184 ) (30,370 )

PROVISIONS FOR LIABILITIES - (966 )
NET ASSETS 43,186 23,172

CAPITAL AND RESERVES
Called up share capital 12 12
Retained earnings 43,174 23,160
43,186 23,172

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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.

PRL Young Ltd (Registered number: 11158903)

Statement of Financial Position - continued
31st January 2024


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 director and authorised for issue on 18th October 2024 and were signed by:





P R Young - Director


PRL Young Ltd (Registered number: 11158903)

Notes to the Financial Statements
for the Year Ended 31st January 2024

1. STATUTORY INFORMATION

PRL Young Ltd is a private company, registered in England and Wales. The principle place of business is Cricket Cottage, London Road, Fairford, Glos, GL7 4AY.

The financial statements are presented in UK Sterling pounds (£).

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 50% on cost, 33% on cost, 20% on cost and 10% on 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PRL Young Ltd (Registered number: 11158903)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st February 2023 23,960 45,271 69,231
Additions - 112 112
At 31st January 2024 23,960 45,383 69,343
DEPRECIATION
At 1st February 2023 6,938 15,887 22,825
Charge for year 2,396 7,432 9,828
At 31st January 2024 9,334 23,319 32,653
NET BOOK VALUE
At 31st January 2024 14,626 22,064 36,690
At 31st January 2023 17,022 29,384 46,406

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 54,655 113,901
Other debtors 15,676 26,279
70,331 140,180

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 6,087 11,656
Taxation and social security 36,597 39,583
Other creditors 19,507 88,413
62,191 139,652

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 25,184 30,370

PRL Young Ltd (Registered number: 11158903)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.1.24 31.1.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,426 -

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr P R Young, director of the company had an overdrawn directors loan account of £10,458 (2023: £23,054) at the end of the year.