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REGISTERED NUMBER: 03284375 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Principia Estate & Asset Management Ltd

Principia Estate & Asset Management Ltd (Registered number: 03284375)






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




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Principia Estate & Asset Management Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr J N Chambers
Mr T J Gilje





SECRETARY: Ms C D Chambers





REGISTERED OFFICE: 152 Fulham Road
London
SW10 9PR





REGISTERED NUMBER: 03284375 (England and Wales)





ACCOUNTANTS: Langricks (Holmfirth) Limited
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Principia Estate & Asset Management Ltd

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 Statement of Financial Position. 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 Principia Estate & Asset Management Ltd for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 Principia Estate & Asset Management Ltd, 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 Principia Estate & Asset Management Ltd and state those matters that we have agreed to state to the Board of Directors of Principia Estate & Asset Management Ltd, 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 Principia Estate & Asset Management Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Principia Estate & Asset Management Ltd 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 Principia Estate & Asset Management Ltd. You consider that Principia Estate & Asset Management Ltd 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 Principia Estate & Asset Management Ltd. 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.






Langricks (Holmfirth) Limited
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT


15 November 2024

Principia Estate & Asset Management Ltd (Registered number: 03284375)

Statement of Financial Position
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 22,930
Tangible assets 5 - 1,805
- 24,735

CURRENT ASSETS
Debtors 6 1,268,056 1,137,744
Cash at bank 13,334 13,334
1,281,390 1,151,078
CREDITORS
Amounts falling due within one year 7 1,063,388 657,325
NET CURRENT ASSETS 218,002 493,753
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,002

518,488

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 208,002 508,488
218,002 518,488

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.

Principia Estate & Asset Management Ltd (Registered number: 03284375)

Statement of Financial Position - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:




Mr T J Gilje - Director



Mr J N Chambers - Director


Principia Estate & Asset Management Ltd (Registered number: 03284375)

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

1. STATUTORY INFORMATION

Principia Estate & Asset Management 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten 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 the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Principia Estate & Asset Management Ltd (Registered number: 03284375)

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

2. ACCOUNTING POLICIES - continued

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 35 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023 296,538
Disposals (296,538 )
At 29 February 2024 -
AMORTISATION
At 1 March 2023 273,608
Charge for year 22,930
Eliminated on disposal (296,538 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 22,930

5. TANGIBLE FIXED ASSETS
Short Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 36,100 46,855 82,955
DEPRECIATION
At 1 March 2023 34,295 46,855 81,150
Charge for year 1,805 - 1,805
At 29 February 2024 36,100 46,855 82,955
NET BOOK VALUE
At 29 February 2024 - - -
At 28 February 2023 1,805 - 1,805

Principia Estate & Asset Management Ltd (Registered number: 03284375)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 637,844 403,601
Amounts owed by group undertakings 13,524 480,791
Other debtors 616,688 253,352
1,268,056 1,137,744

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 2,262 55
Amounts owed to group undertakings 288,214 -
Taxation and social security 338,024 273,711
Other creditors 434,888 383,559
1,063,388 657,325

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.2.24 28.2.23
£    £   
Within one year - 14,167

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors, and there is no individual controlling party.

The company was a wholly owned subsidiary of Farrar & Co. Ltd throughout the year.
Following the year end the group was restructured, and Principia Estate & Asset Management Holdings Ltd became the new parent company.