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REGISTERED NUMBER: 10749317 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Prh Quality Homes Ltd

Prh Quality Homes Ltd (Registered number: 10749317)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


Prh Quality Homes Ltd (Registered number: 10749317)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 505,000 505,000

CURRENT ASSETS
Cash at bank 11,974 8,571

CREDITORS
Amounts falling due within one year 5 152,768 152,456
NET CURRENT LIABILITIES (140,794 ) (143,885 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

364,206

361,115

CREDITORS
Amounts falling due after more than
one year

6

(347,057

)

(347,057

)

PROVISIONS FOR LIABILITIES (2,711 ) (2,124 )
NET ASSETS 14,438 11,934

CAPITAL AND RESERVES
Called up share capital 8 1 1
Fair value reserve 9 48,217 48,804
Retained earnings (33,780 ) (36,871 )
SHAREHOLDERS' FUNDS 14,438 11,934

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Prh Quality Homes Ltd (Registered number: 10749317)

Statement of Financial Position - continued
31 May 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 director and authorised for issue on 24 February 2025 and were signed by:





Mrs Patricia Ann Mcintosh - Director


Prh Quality Homes Ltd (Registered number: 10749317)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Prh Quality Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10749317

Registered office: 20-22 Wenlock Road
London
N1 7GU

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 represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment properties are 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 statement of financial position date.


Prh Quality Homes Ltd (Registered number: 10749317)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 505,000
NET BOOK VALUE
At 31 May 2024 505,000
At 31 May 2023 505,000

The Property at 5 Gordon Street, Coventry CV1 3ES is registered under a charge in the name of Chartercourt Financial Services Limited (Trading as Precise Mortgages) on 17th May 2021.

The Property at 4 Belmont, Temple Street, Llandrindod Wells LD1 5HF is registered under a charge in the name of Chartercourt Financial Services Limited (Trading as Precise Mortgages) on 04th September 2019.

The Property at 54 School Lane Wolvehampton WV10 8HU is registered under a charge in the name of Paratus Amc Limited (Trading as Foundation Home Loan) on 25th June 2021.

Prh Quality Homes Ltd (Registered number: 10749317)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2020 17,254
Valuation in 2021 3,000
Valuation in 2022 30,674
Cost 454,072
505,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other creditors 152,768 152,456

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 347,057 347,057

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 347,057 347,057

Prh Quality Homes Ltd (Registered number: 10749317)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 347,057 347,057

The loan amounting to £171,104 is secured by the way of charge on the property situated at 5 Gordon Street, Coventry CV1 3ES (disclosed as investment property). The charge was created in the name of Chartercourt Financial Services Limited (Trading as Precise Mortgages) on 17th May 2021.

The loan amounting to £44,531 is secured by the way of charge on the property situated at 4 Belmont, Temple Street, Llandrindod Wells LD1 5HF (disclosed as investment property). The charge was created in the name of Chartercourt Financial Services Limited (Trading as Precise Mortgages) on 04th September 2019.

The loan amounting to £126,225 is secured by the way of charge on the property situated at 54 School Lane Wolvehampton WV10 8HU (disclosed as investment property). The charge was created in the name of Paratus Amc Limited (Trading as Foundation Home Loan) on 25th June 2021.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Fair
value
reserve
£   
At 1 June 2023 48,804
Transfer to/from reserves (587 )

At 31 May 2024 48,217

10. RELATED PARTY DISCLOSURES

The company owes £152,698 (2023: £152,386) to its director, Mrs Patricia Ann Mcintosh who is also a sole shareholder of the company as at the accounting year end date.