Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01was that of a community pharmacy.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false1616truetrue 07064480 2023-07-01 2024-06-30 07064480 2022-04-01 2023-06-30 07064480 2024-06-30 07064480 2023-06-30 07064480 c:Director1 2023-07-01 2024-06-30 07064480 c:Director2 2023-07-01 2024-06-30 07064480 d:Buildings 2023-07-01 2024-06-30 07064480 d:Buildings 2024-06-30 07064480 d:Buildings 2023-06-30 07064480 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07064480 d:FurnitureFittings 2023-07-01 2024-06-30 07064480 d:FurnitureFittings 2024-06-30 07064480 d:FurnitureFittings 2023-06-30 07064480 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07064480 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07064480 d:Goodwill 2023-07-01 2024-06-30 07064480 d:Goodwill 2024-06-30 07064480 d:Goodwill 2023-06-30 07064480 d:CurrentFinancialInstruments 2024-06-30 07064480 d:CurrentFinancialInstruments 2023-06-30 07064480 d:CurrentFinancialInstruments 3 2024-06-30 07064480 d:CurrentFinancialInstruments 3 2023-06-30 07064480 d:Non-currentFinancialInstruments 2024-06-30 07064480 d:Non-currentFinancialInstruments 2023-06-30 07064480 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 07064480 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07064480 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 07064480 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 07064480 d:ShareCapital 2024-06-30 07064480 d:ShareCapital 2023-06-30 07064480 d:RetainedEarningsAccumulatedLosses 2024-06-30 07064480 d:RetainedEarningsAccumulatedLosses 2023-06-30 07064480 c:FRS102 2023-07-01 2024-06-30 07064480 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07064480 c:FullAccounts 2023-07-01 2024-06-30 07064480 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07064480 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 07064480




PRINGLETON LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 30 JUNE 2024






















SILVER LEVENE LLP
CHARTERED CERTIFIED ACCOUNTANTS
LEVEL 5A MAPLE HOUSE 
149 TOTTENHAM COURT ROAD 
LONDON W1T 7NF

 
PRINGLETON LTD
REGISTERED NUMBER: 07064480

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
14,014
16,139

  
14,014
16,139

Current assets
  

Stocks
  
114,393
120,833

Debtors: amounts falling due after more than one year
 6 
14,000
14,000

Debtors: amounts falling due within one year
 6 
1,107,630
981,857

Cash at bank and in hand
  
197,480
43,000

  
1,433,503
1,159,690

Creditors: amounts falling due within one year
 7 
(232,425)
(214,880)

Net current assets
  
 
 
1,201,078
 
 
944,810

Total assets less current liabilities
  
1,215,092
960,949

Creditors: amounts falling due after more than one year
 8 
(12,329)
(20,922)

Provisions for liabilities
  

Deferred tax
  
(2,957)
(3,352)

  
 
 
(2,957)
 
 
(3,352)

Net assets
  
1,199,806
936,675


Capital and reserves
  

Called up share capital 
  
80,000
80,000

Profit and loss account
  
1,119,806
856,675

  
1,199,806
936,675

Page 1

 
PRINGLETON LTD
REGISTERED NUMBER: 07064480
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 February 2025.




Mr M Shah
Mrs S Davda
Director
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Pringleton Ltd is a private company, limited by share capital, incorporated in England and Wales under registration number 07064480. The address of the registered office is Allchin Pharmacy, 28 Englands Lane, London, NW3 4UE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Page 3

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years straight line

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold improvement
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 16 (2023 - 16).

Page 6

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
273,906



At 30 June 2024

273,906



Amortisation


At 1 July 2023
273,906



At 30 June 2024

273,906



Net book value



At 30 June 2024
-



At 30 June 2023
-



Page 7

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

5.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 July 2023
45,283
96,102
141,385


Additions
-
1,375
1,375



At 30 June 2024

45,283
97,477
142,760



Depreciation


At 1 July 2023
42,548
82,695
125,243


Charge for the period on owned assets
547
2,956
3,503



At 30 June 2024

43,095
85,651
128,746



Net book value



At 30 June 2024
2,188
11,826
14,014



At 30 June 2023
2,734
13,407
16,141

Page 8

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£

Due after more than one year

Rent deposit
14,000
14,000

14,000
14,000


2024
2023
£
£

Due within one year

Trade debtors
113,767
99,756

Amounts owed by group undertakings
545,149
488,832

VAT repayable
26,111
25,249

Section 455 tax repayable
105,868
85,036

Directors' loan accounts
289,694
260,611

Prepayments and accrued income
27,041
22,373

1,107,630
981,857



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,648
10,648

Trade creditors
186,870
188,156

Corporation tax payable
30,011
12,610

PAYE and NI payable
2,878
1,634

Pension payable
768
582

Accruals and deferred income
1,250
1,250

232,425
214,880


The bank loan is an unsecured bounce back loan.

Page 9

 
PRINGLETON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,329
20,922

12,329
20,922


The bank loan is an unsecured bounce back loan.


9.


Controlling party

Allchin Holdings Limited owns 100% of the share capital in Pringleton Ltd. There is no ultimate controlling party.

 
Page 10