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Registered number: 12789866
Preneur Capital Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Elementary Accountancy Services Limited
Contents
Page
Company Information 1
Accountants' Report 2
Balance Sheet 3
Notes to the Financial Statements 4—5
Page 1
Company Information
Director Mr Andrew Bissett
Company Number 12789866
Registered Office Parkhill Business Centre
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
Accountants Elementary Accountancy Services Limited
36 Dearne Hall Lane
Barnsley
S751FX
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Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Preneur Capital Ltd for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Preneur Capital Ltd for the year ended 31 August 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Preneur Capital Ltd , as a body, in accordance with the terms of our engagement letter dated 31 July 2022. Our work has been undertaken solely to prepare for your approval the accounts of Preneur Capital Ltd and state those matters that we have agreed to state to the director of Preneur Capital Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Preneur Capital Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Preneur Capital Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Preneur Capital Ltd . You consider that Preneur Capital Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Preneur Capital Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
23/01/2025
Elementary Accountancy Services Limited
36 Dearne Hall Lane
Barnsley
S751FX
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Balance Sheet
Registered number: 12789866
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 - 549
Cash at bank and in hand 87 80
87 629
Creditors: Amounts Falling Due Within One Year 5 (2,662 ) (1,833 )
NET CURRENT ASSETS (LIABILITIES) (2,575 ) (1,204 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,575 ) (1,204 )
NET LIABILITIES (2,575 ) (1,204 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (2,675 ) (1,304 )
SHAREHOLDERS' FUNDS (2,575) (1,204)
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Bissett
Director
23/01/2025
The notes on pages 4 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Preneur Capital Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12789866 . The registered office is Parkhill Business Centre, Walton Road, Wetherby, West Yorkshire, LS22 5DZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover relates to commision earned by the business as a Financial Intermediary. 
Turnover is recognised when the commision is payable upon completion of the underlying transaction. 
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Debtors
2024 2023
£ £
Due within one year
Corporation tax recoverable assets - 549
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5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 780 819
Amounts owed to parent undertaking 1,882 1,014
2,662 1,833
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Ultimate Controlling Party
The company's ultimate controlling party is Shadowfax Funding Solutions Ltd by virtue of his ownership of 100% of the issued share capital in the company.
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