Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292false2023-03-012falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11271202 2023-03-01 2024-02-29 11271202 2022-03-01 2023-02-28 11271202 2024-02-29 11271202 2023-02-28 11271202 c:Director1 2023-03-01 2024-02-29 11271202 c:Director2 2023-03-01 2024-02-29 11271202 c:RegisteredOffice 2023-03-01 2024-02-29 11271202 d:LeaseholdInvestmentProperty 2024-02-29 11271202 d:LeaseholdInvestmentProperty 2023-02-28 11271202 d:CurrentFinancialInstruments 2024-02-29 11271202 d:CurrentFinancialInstruments 2023-02-28 11271202 d:Non-currentFinancialInstruments 2024-02-29 11271202 d:Non-currentFinancialInstruments 2023-02-28 11271202 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 11271202 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11271202 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 11271202 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11271202 d:ShareCapital 2024-02-29 11271202 d:ShareCapital 2023-02-28 11271202 d:RetainedEarningsAccumulatedLosses 2024-02-29 11271202 d:RetainedEarningsAccumulatedLosses 2023-02-28 11271202 c:FRS102 2023-03-01 2024-02-29 11271202 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11271202 c:FullAccounts 2023-03-01 2024-02-29 11271202 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11271202 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Company registration number: 11271202







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 FEBRUARY 2024


PRIETO GARNER LIMITED






































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PRIETO GARNER LIMITED
 


 
COMPANY INFORMATION


Directors
Dr L Church 
Mrs M Church 




Registered number
11271202



Registered office
3000a Parkway
Whiteley

Fareham

Hampshire

PO15 7FX




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


PRIETO GARNER LIMITED
REGISTERED NUMBER:11271202



STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
330,000
330,000

  
330,000
330,000

Current assets
  

Cash at bank and in hand
  
5,500
1,572

  
5,500
1,572

Creditors: amounts falling due within one year
 5 
(204,818)
(156,793)

Net current liabilities
  
 
 
(199,318)
 
 
(155,221)

Total assets less current liabilities
  
130,682
174,779

Creditors: amounts falling due after more than one year
 6 
(198,419)
(233,414)

  

Net liabilities
  
(67,737)
(58,635)

Page 1

 


PRIETO GARNER LIMITED
REGISTERED NUMBER:11271202


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(67,837)
(58,735)

  
(67,737)
(58,635)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr L Church
Director

Date: 27 November 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 


PRIETO GARNER LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Prieto Garner Limited is a private company, limited by shares,  Incorporated in England and Wales. The company's registered number and registered office address can be found on the company information page.
The Company's functional and presentational currency is GBP and is rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These
policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the period end date, the company's liabilities exceed its assets, therefore the company is reliant on the
continued support provided to it by the director.
The director has confirmed that they will not withdraw the support until the company has sufficient means to
repay them. The director considers that the company is able to meet its obligations as they fall due for the
foreseeable future. As a result the accounts have been prepared on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 


PRIETO GARNER LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

  
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 


PRIETO GARNER LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Investment property





Long term leasehold investment property

£



Valuation


At 1 March 2023
330,000



At 29 February 2024
330,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.







5.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other creditors
202,190
154,190

Accruals and deferred income
2,628
2,603

204,818
156,793



6.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
198,419
233,414

198,419
233,414


The mortgage is secured by a charge created on 7 September 2018 on the Investment property.
The total amount of liabilities included above are repayable more than five years after the reporting date, repayable other than by instalments.

Page 5