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REGISTERED NUMBER: 04793519 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Princeraven Limited

Princeraven Limited (Registered number: 04793519)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Princeraven Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: O Ezechukwu





SECRETARY: Mrs. J Ezechukwu





REGISTERED OFFICE: 4, Chacombe Place
Beaconsfield
Bucks.
HP9 2WS





REGISTERED NUMBER: 04793519 (England and Wales)





ACCOUNTANTS: Lawson & Co.
18, The Lagger
Chalfont St. Giles
Bucks.
HP8 4DG

Princeraven Limited (Registered number: 04793519)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,181 50,354
Investment property 5 3,151,000 3,717,043
3,191,181 3,767,397

CURRENT ASSETS
Debtors 6 109,198 13,234
Cash at bank 50,263 29,135
159,461 42,369
CREDITORS
Amounts falling due within one year 7 34,123 78,084
NET CURRENT ASSETS/(LIABILITIES) 125,338 (35,715 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,316,519

3,731,682

CREDITORS
Amounts falling due after more than one
year

8

(1,957,280

)

(1,964,618

)

PROVISIONS FOR LIABILITIES 10 (857 ) (1,302 )
NET ASSETS 1,358,382 1,765,762

CAPITAL AND RESERVES
Called up share capital 11 200 200
Revaluation reserve 12 769,730 1,192,328
Retained earnings 12 588,452 573,234
SHAREHOLDERS' FUNDS 1,358,382 1,765,762

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.

Princeraven Limited (Registered number: 04793519)

Balance Sheet - continued
31 March 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 11 November 2024 and were signed by:





O Ezechukwu - Director


Princeraven Limited (Registered number: 04793519)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Princeraven 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

Princeraven Limited (Registered number: 04793519)

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 77,992
DEPRECIATION
At 1 April 2023 27,638
Charge for year 10,173
At 31 March 2024 37,811
NET BOOK VALUE
At 31 March 2024 40,181
At 31 March 2023 50,354

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,717,043
Disposals (143,445 )
Revaluations (422,598 )
At 31 March 2024 3,151,000
NET BOOK VALUE
At 31 March 2024 3,151,000
At 31 March 2023 3,717,043

The properties were revalued in 2024 by the director at open market value.

If the properties were sold at their current market values the tax liability rising would be approximately £NIL.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2014 919,328
Valuation in 2016 273,000
Valuation in 2024 (422,598 )
Cost 2,381,270
3,151,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 74 765
Other debtors 109,124 12,469
109,198 13,234

Princeraven Limited (Registered number: 04793519)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 7,084 7,084
Trade creditors 12,089 11,567
Taxation and social security 434 3,100
Other creditors 14,516 56,333
34,123 78,084

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,957,280 1,964,618

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,945,629 1,945,629

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,964,364 1,971,702

The bank loans are secured against the company's properties.

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 857 1,302

Deferred
tax
£   
Balance at 1 April 2023 1,302
Accelerated capital allowances (445 )
Balance at 31 March 2024 857

Princeraven Limited (Registered number: 04793519)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100
100 Preference £1 100 100
200 200

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 573,234 1,192,328 1,765,562
Profit for the year 45,218 45,218
Dividends (30,000 ) (30,000 )
Unreaslised deficit - (422,598 ) (422,598 )
At 31 March 2024 588,452 769,730 1,358,182

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
O Ezechukwu
Balance outstanding at start of year - -
Amounts advanced 100,311 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100,311 -

The balance owing to the company by the director has been repaid since the year-end.

14. RELATED PARTY DISCLOSURES

The company is controlled by the director Mr. O. Ezechukwu, who together with his wife are the only shareholders in the company.

During the year the director, in his capacity as shareholder, has received dividends amounting to £1,000 (2023: £2,000).