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REGISTERED NUMBER: 12118653 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Prowse Financial Services Ltd

Prowse Financial Services Ltd (Registered number: 12118653)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Prowse Financial Services Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr M P Prowse
Mr P Goverd





REGISTERED OFFICE: 58 Sandringham Road
Brislington
Bristol
BS4 3PP





REGISTERED NUMBER: 12118653 (England and Wales)





ACCOUNTANTS: Norton Tax Shops Limited
3 & 5 Station Road
Keynsham
Bristol
BS31 2BH

Prowse Financial Services Ltd (Registered number: 12118653)

Abridged Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,264 923

CURRENT ASSETS
Debtors 168,321 100,010
Cash at bank 825 306
169,146 100,316
CREDITORS
Amounts falling due within one year 89,420 49,743
NET CURRENT ASSETS 79,726 50,573
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,990

51,496

CREDITORS
Amounts falling due after more than one year (33,144 ) (11,667 )

PROVISIONS FOR LIABILITIES 5 (316 ) -
NET ASSETS 47,530 39,829

CAPITAL AND RESERVES
Called up share capital 6 200 100
Retained earnings 47,330 39,729
SHAREHOLDERS' FUNDS 47,530 39,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

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

Prowse Financial Services Ltd (Registered number: 12118653)

Abridged Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 May 2024 and were signed on its behalf by:





Mr M P Prowse - Director


Prowse Financial Services Ltd (Registered number: 12118653)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Prowse Financial Services 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.

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.
Computer equipment - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Prowse Financial Services Ltd (Registered number: 12118653)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 1,446
Additions 764
At 31 July 2023 2,210
DEPRECIATION
At 1 August 2022 523
Charge for year 423
At 31 July 2023 946
NET BOOK VALUE
At 31 July 2023 1,264
At 31 July 2022 923

5. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax 316 -

Deferred
tax
£   
Charge to Income Statement during year 316
Balance at 31 July 2023 316

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 200 100

Prowse Financial Services Ltd (Registered number: 12118653)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Mr M P Prowse
Balance outstanding at start of year (198 ) (43,345 )
Amounts advanced 38,409 43,147
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,211 (198 )

8. RELATED PARTY DISCLOSURES

During the year under review the company paid referral fees to Danmin Ltd amounting to £23,263 (2022
£9,126) whom Mr P Goverd is a Director.