Company Registration No. 08960496 (England and Wales)
Priority Estates Ltd
Unaudited accounts
for the year ended 31 March 2024
Priority Estates Ltd
Unaudited accounts
Contents
Priority Estates Ltd
Company Information
for the year ended 31 March 2024
Company Number
08960496 (England and Wales)
Registered Office
Hallswelle House
1 Hallswelle Road
London
NW11 0DH
Accountants
Clearfin Accountants Limited
Churchill House
137-139 Brent Street
London
NW4 4DJ
Priority Estates Ltd
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
73
659
Creditors: amounts falling due within one year
(900)
(207,839)
Net current assets
367,272
370,858
Net assets
367,272
370,858
Called up share capital
5
5
Profit and loss account
367,267
370,853
Shareholders' funds
367,272
370,858
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 November 2024 and were signed on its behalf by
Mr Y Sprung
Director
Company Registration No. 08960496
Priority Estates Ltd
Notes to the Accounts
for the year ended 31 March 2024
Priority Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 08960496. The registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents rents receivable on investment properties.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Amounts falling due within one year
Other debtors
368,099
578,038
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
21,000
Loans from directors
-
185,939
6
Transactions with related parties
Included within other creditors is an amount of £185,939 (2023: £185,939) due to a director of the company.
Priority Estates Ltd
Notes to the Accounts
for the year ended 31 March 2024
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).