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REGISTERED NUMBER: 04664203 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Prickett & Ellis Lettings Limited

Prickett & Ellis Lettings Limited (Registered number: 04664203)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

Prickett & Ellis Lettings Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: N J Ellis
C Fox





REGISTERED OFFICE: Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE





REGISTERED NUMBER: 04664203 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Prickett & Ellis Lettings Limited (Registered number: 04664203)

Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 41,625 -
Tangible assets 6 18,109 27,749
59,734 27,749

CURRENT ASSETS
Debtors 7 94,025 16,573
Cash at bank 221,131 248,015
315,156 264,588
CREDITORS
Amounts falling due within one year 8 343,664 278,031
NET CURRENT LIABILITIES (28,508 ) (13,443 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,226

14,306

CAPITAL AND RESERVES
Called up share capital 9 4 4
Retained earnings 31,222 14,302
SHAREHOLDERS' FUNDS 31,226 14,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:




C Fox - Director


Prickett & Ellis Lettings Limited (Registered number: 04664203)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Prickett & Ellis Lettings 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Letting commission and management fees are recognised in the period in which the fees relate to.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - Straight line over 5 years
Motor vehicles - Straight line over 5 years
Computer equipment - Straight line over 5 years

Financial instruments
Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

At the end of each reporting period financial assets are assessed for impairment. If an impairment exists the impairment loss is recognised in the income statement.

Financial assets are derecognised when:
- the contractual right to cash flows from the asset are settled or expire,
- substantially all the risk and rewards of the ownership of the asset are transferred to another party or
- despite retaining some significant risks and rewards, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset without additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the liability is discharged, cancelled or expires.

Prickett & Ellis Lettings Limited (Registered number: 04664203)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. ACCOUNTING POLICIES - continued

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 45,000
At 29 February 2024 45,000
AMORTISATION
Charge for year 3,375
At 29 February 2024 3,375
NET BOOK VALUE
At 29 February 2024 41,625

Prickett & Ellis Lettings Limited (Registered number: 04664203)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 4,303 47,345 13,886 65,534
Disposals (4,303 ) - - (4,303 )
At 29 February 2024 - 47,345 13,886 61,231
DEPRECIATION
At 1 March 2023 4,303 20,077 13,405 37,785
Charge for year - 9,469 171 9,640
Eliminated on disposal (4,303 ) - - (4,303 )
At 29 February 2024 - 29,546 13,576 43,122
NET BOOK VALUE
At 29 February 2024 - 17,799 310 18,109
At 28 February 2023 - 27,268 481 27,749

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 87,767 13,356
Other debtors - 410
Deferred tax asset 4,719 1,591
Prepayments and accrued income 1,539 1,216
94,025 16,573

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Finance leases - 3,889
Trade creditors 25,925 14,723
Tax 16,904 19,647
Social security and other taxes 1,420 1,826
Pension control a/c 237 218
VAT 17,214 7,015
Deposits held 174,304 157,193
Company credit card 1,845 1,075
P & E Residential 8,120 6,585
Landfleet 5,000 5,000
Directors' current accounts - 114
Accruals and deferred income 92,695 60,746
343,664 278,031

Prickett & Ellis Lettings Limited (Registered number: 04664203)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
3 Ordinary £1 3 3
1 Ordinary "A" £1 1 1
4 4

10. RELATED PARTY DISCLOSURES

Amounts of £8,120 (2023: £6,585) and £5,000 (2023: £5,000) was owed to Prickett & Ellis Residential Limited and Landfleet Limited respectively as at the balance sheet date.
These are both associated companies.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party of the company.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Prickett & Ellis Lettings Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Prickett & Ellis Lettings Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Prickett & Ellis Lettings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Prickett & Ellis Lettings Limited and state those matters that we have agreed to state to the Board of Directors of Prickett & Ellis Lettings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prickett & Ellis Lettings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Prickett & Ellis Lettings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Prickett & Ellis Lettings Limited. You consider that Prickett & Ellis Lettings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Prickett & Ellis Lettings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE


6 November 2024