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REGISTERED NUMBER: 11203881 (England and Wales)















PROMINENS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024






PROMINENS LIMITED (REGISTERED NUMBER: 11203881)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROMINENS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: N M Unadkat
M K C Unadkat





REGISTERED OFFICE: 2nd Floor, One Hobbs House
Harrovian Business Village
Bessborough Road
Harrow
HA1 3EX





REGISTERED NUMBER: 11203881 (England and Wales)





ACCOUNTANTS: Albury Associates Limited
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

PROMINENS LIMITED (REGISTERED NUMBER: 11203881)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 364,000 316,229

CURRENT ASSETS
Debtors 5 1,226 1,901
Cash at bank 14,192 21,472
15,418 23,373
CREDITORS
Amounts falling due within one year 6 8,554 10,777
NET CURRENT ASSETS 6,864 12,596
TOTAL ASSETS LESS CURRENT
LIABILITIES

370,864

328,825

CREDITORS
Amounts falling due after more than one year 7 (344,596 ) (344,596 )

PROVISIONS FOR LIABILITIES (9,077 ) -
NET ASSETS/(LIABILITIES) 17,191 (15,771 )

CAPITAL AND RESERVES
Called up share capital 9 400 400
Revaluation reserve 10 38,695 -
Retained earnings 10 (21,904 ) (16,171 )
SHAREHOLDERS' FUNDS 17,191 (15,771 )

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.

PROMINENS LIMITED (REGISTERED NUMBER: 11203881)

BALANCE SHEET - 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





M K C Unadkat - Director


PROMINENS LIMITED (REGISTERED NUMBER: 11203881)

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


1. STATUTORY INFORMATION

Prominens 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the property is occupied.

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.

Investment property
Although the Companies Act require the systematic annual depreciation of fixed assets, the directors believe the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since the current value of properties, and changes to that value, are of primary importance rather a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation and the amount that might otherwise have been included cannot be separately identified or quantified.

3. EMPLOYEES AND DIRECTORS

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

PROMINENS LIMITED (REGISTERED NUMBER: 11203881)

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


4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 March 2023 316,229
Revaluations 47,771
At 29 February 2024 364,000
NET BOOK VALUE
At 29 February 2024 364,000
At 28 February 2023 316,229

Cost or valuation at 29 February 2024 is represented by:

Land and
buildings
£   
Valuation in 2023 316,229
Valuation in 2024 47,771
364,000

Leasehold property was revalued at the year-end date to its fair value of £364,000 by the Directors, based on their online research. If the leasehold property was included in the balance sheet on an historical cost basis, then the carrying amount would be £316,229 (2023 - £316,229). The directors are of the opinion that, given the static nature of the property market in recent times, the difference between the fair value and the estimated fair value was not significant, therefore they have adoted the fair value based on their research.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by associates - 523
Other debtors 1,226 1,378
1,226 1,901

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 54 -
Other creditors 8,500 10,777
8,554 10,777

PROMINENS LIMITED (REGISTERED NUMBER: 11203881)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 232,585 232,585
Other creditors 112,011 112,011
344,596 344,596

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years 232,585 232,585

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loan 232,585 232,585

Other loan is secured by way of a fixed charge over the company's leasehold property Flat 32, Everley House, 52 Capitol Way, London, NW9 0DB.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A Shares £1 100 100
100 Ordinary B Shares £1 100 100
100 Ordinary C Shares £1 100 100
100 Ordinary D Shares £1 100 100
400 400

All shares rank pari passu.

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2023 (16,171 ) - (16,171 )
Deficit for the year (5,733 ) (5,733 )
Revaluation during the year - 38,695 38,695
At 29 February 2024 (21,904 ) 38,695 16,791

PROMINENS LIMITED (REGISTERED NUMBER: 11203881)

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


11. RELATED PARTY DISCLOSURES

At the year end date, included within other Creditors, amount falling due within one year, is an amount of £3,680 (2023: -£523) owed to PCAL Limited. A company in which the directors have beneficial interest.

At the year end date, included within other creditors, amount falling due within one year,is an amount owed to the director M Unadkat of £2,255 (2023: £4,100).

At the year end date, included within other creditors, amounts falling due after more than one year, is an amount owed to the directors M Unadkat and N Unadkat of £112,011 (2023: £112,011)

These amounts are unsecured, interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M K C Unadkat.