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REGISTERED NUMBER: 12192088 (England and Wales)









PROSPER SERVICED ACCOMMODATION TRADING
LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






PROSPER SERVICED ACCOMMODATION TRADING
LTD (REGISTERED NUMBER: 12192088)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


PROSPER SERVICED ACCOMMODATION TRADING
LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: P R Fernihough
M A Fernihough





REGISTERED OFFICE: 7 Sandy Court
Ashleigh Way, Langage Business Park
Plympton
Plymouth
PL7 5JX





REGISTERED NUMBER: 12192088 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

PROSPER SERVICED ACCOMMODATION TRADING
LTD (REGISTERED NUMBER: 12192088)

ABRIDGED BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 600,000 563,053

CURRENT ASSETS
Debtors 55,472 42,958
Cash at bank 798 28,132
56,270 71,090
CREDITORS
Amounts falling due within one year 191,640 214,004
NET CURRENT LIABILITIES (135,370 ) (142,914 )
TOTAL ASSETS LESS CURRENT LIABILITIES 464,630 420,139

CREDITORS
Amounts falling due after more than one year 6 451,963 412,930
NET ASSETS 12,667 7,209

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 41,894 -
Retained earnings (29,327 ) 7,109
12,667 7,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 31 January 2025 and were signed on its behalf by:




M A Fernihough - Director


PROSPER SERVICED ACCOMMODATION TRADING
LTD (REGISTERED NUMBER: 12192088)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Prosper Serviced Accommodation Trading 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 the rendering of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property - not depreciated as residual value is equal to cost
Improvements to property - 10%-25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Freehold Properties
Freehold properties are initially recognised at cost and subsequently revalued based on observable market conditions, including future maintainable earnings. Future maintainable earnings are computed looking at historic trends and anticipated future events. This valuation is prepared annually at the year end date and adjusted for through other comprehensive income in the revaluation reserve. Where revaluations result in a value lower than original cost, this represents a permanent diminution in value and this is recognised in the profit and loss account.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.


PROSPER SERVICED ACCOMMODATION TRADING
LTD (REGISTERED NUMBER: 12192088)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 May 2023 577,490
Revaluations 22,510
At 30 April 2024 600,000
DEPRECIATION
At 1 May 2023 14,437
Charge for year 4,947
Revaluation adjustments (19,384 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 600,000
At 30 April 2023 563,053

PROSPER SERVICED ACCOMMODATION TRADING
LTD (REGISTERED NUMBER: 12192088)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 April 2024 is represented by:

Totals
£   
Valuation in 2024 22,510
Cost 577,490
600,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 439,003 292,930

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 455,203 442,930

The bank loan is secured over the property to which it relates, along with a fixed and floating charge over the company's assets.

8. RESERVES
Revaluation
reserve
£   
Revaluation of freehold property 41,894

At 30 April 2024 41,894