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REGISTERED NUMBER: 12097441 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

STUDENT PRIME LTD

STUDENT PRIME LTD (REGISTERED NUMBER: 12097441)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STUDENT PRIME LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: R L Record
M Donaghy





REGISTERED OFFICE: 3rd Floor
21 Perrymount Road
Haywards Heath
West Sussex
RH16 3TP





REGISTERED NUMBER: 12097441 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

STUDENT PRIME LTD (REGISTERED NUMBER: 12097441)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,785 5,641
Investment property 5 1,200,000 1,094,384
1,208,785 1,100,025

CURRENT ASSETS
Debtors 6 7,024 3,398
Cash at bank 16,326 47,241
23,350 50,639
CREDITORS
Amounts falling due within one year 7 256,742 328,581
NET CURRENT LIABILITIES (233,392 ) (277,942 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

975,393

822,083

CREDITORS
Amounts falling due after more than one year 8 (838,030 ) (727,349 )

PROVISIONS FOR LIABILITIES (4,172 ) (21,913 )
NET ASSETS 133,191 72,821

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 84,289 65,739
Retained earnings 48,900 7,080
SHAREHOLDERS' FUNDS 133,191 72,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

STUDENT PRIME LTD (REGISTERED NUMBER: 12097441)

BALANCE SHEET - continued
31 JULY 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 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:





R L Record - Director


STUDENT PRIME LTD (REGISTERED NUMBER: 12097441)

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


1. STATUTORY INFORMATION

Student Prime 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Fixtures and fittings etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

STUDENT PRIME LTD (REGISTERED NUMBER: 12097441)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2023 20,464
Additions 7,775
At 31 July 2024 28,239
DEPRECIATION
At 1 August 2023 14,823
Charge for year 4,631
At 31 July 2024 19,454
NET BOOK VALUE
At 31 July 2024 8,785
At 31 July 2023 5,641

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 1,094,384
Additions 80,883
Revaluations 24,733
At 31 July 2024 1,200,000
NET BOOK VALUE
At 31 July 2024 1,200,000
At 31 July 2023 1,094,384

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2022 87,652
Valuation in 2024 24,733
Cost 1,087,615
1,200,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 7,024 3,398

STUDENT PRIME LTD (REGISTERED NUMBER: 12097441)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 80,000
Trade creditors 240 13
Taxation and social security - 2,301
Other creditors 256,502 246,267
256,742 328,581

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 838,030 727,349

9. SECURED DEBTS

Bank borrowings of £838,030 are secured against the investment properties of the company.