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REGISTERED NUMBER: 07081254 (England and Wales)















PRESCOT VENTURES LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2024






PRESCOT VENTURES LIMITED (REGISTERED NUMBER: 07081254)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRESCOT VENTURES LIMITED

Company Information
for the year ended 31 March 2024







DIRECTOR: C Hind





REGISTERED OFFICE: The Riding School House
Bulls Lane
Wishaw
Sutton Coldfield
West Midlands
B76 9QW





REGISTERED NUMBER: 07081254 (England and Wales)






PRESCOT VENTURES LIMITED (REGISTERED NUMBER: 07081254)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,828 78,437

CURRENT ASSETS
Debtors 5 5,065,931 4,931,637
Cash at bank 1,809,347 1,574,366
6,875,278 6,506,003
CREDITORS
Amounts falling due within one year 6 4,726,990 4,671,836
NET CURRENT ASSETS 2,148,288 1,834,167
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,207,116

1,912,604

PROVISIONS FOR LIABILITIES 14,707 14,903
NET ASSETS 2,192,409 1,897,701

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 2,192,310 1,897,602
SHAREHOLDERS' FUNDS 2,192,409 1,897,701

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

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

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 September 2024 and were signed by:





C Hind - Director


PRESCOT VENTURES LIMITED (REGISTERED NUMBER: 07081254)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Prescot Ventures 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.

Turnover
Turnover represents income generated solely from the company's principal activity, namely the provision of loan finance, which is therefore interest received on such loans.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

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

PRESCOT VENTURES LIMITED (REGISTERED NUMBER: 07081254)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 148,739
DEPRECIATION
At 1 April 2023 70,302
Charge for year 19,609
At 31 March 2024 89,911
NET BOOK VALUE
At 31 March 2024 58,828
At 31 March 2023 78,437

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 5,065,931 4,931,637

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 113 250
Taxation and social security 104,668 48,536
Other creditors 4,622,209 4,623,050
4,726,990 4,671,836