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REGISTERED NUMBER: 03788989 (England and Wales)















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRIME LIFE CAPITAL MANAGEMENT LIMITED

PRIME LIFE CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 03788989)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRIME LIFE CAPITAL MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S C Saville
W V Kets
A Younie





REGISTERED OFFICE: Ridge Court
The Ridge
Epsom
Surrey
KT18 7EP





REGISTERED NUMBER: 03788989 (England and Wales)





AUDITORS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Statutory Auditors
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

PRIME LIFE CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 03788989)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £
CURRENT ASSETS
Debtors 4 15,488 -
Cash at bank - 2,242
15,488 2,242
CREDITORS
Amounts falling due within one year 5 - 2,251
NET CURRENT ASSETS/(LIABILITIES) 15,488 (9 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,488

(9

)

CAPITAL AND RESERVES
Called up share capital 1,781,732 1,781,732
Retained earnings (1,766,244 ) (1,781,741 )
SHAREHOLDER FUNDS 15,488 (9 )

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 Board of Directors and authorised for issue on 4 December 2024 and were signed on its behalf by:





W V Kets - Director


PRIME LIFE CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 03788989)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Prime Life Capital Management 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.

The financial statements are presented in Sterling (£), which also the functional currency of the Company. Monetary amounts in these Financial Statements are rounded to the nearest £1.

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.

The company was not trading throughout the current year and previous year.

Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

Going concern
It is the current intention of Custodial Capital Management Limited, the immediate parent undertaking, to continue its commitment and support and to provide funds as and if Prime Life Capital Management Limited requires them, for at least the period to 31 December 2025 and Custodial Capital Management Limited does not currently intend to vary the terms of any funding before that date.

The company is dormant from 1 April 2024.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

PRIME LIFE CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 03788989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed by group undertakings 15,488 -

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed to group undertakings - 2,251

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)
for and on behalf of Lewis Brownlee (Chichester) Limited

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the board of directors of Somers Isles Private Trust Company Ltd.

The ultimate parent company is Prime Life Common Fund Limited, a company domiciled in Bermuda.