Company Registration No. 07296398 (England and Wales)
PRS Consultancy Limited
Unaudited accounts
for the year ended 30 June 2024
PRS Consultancy Limited
Unaudited accounts
Contents
PRS Consultancy Limited
Company Information
for the year ended 30 June 2024
Directors
Peter Charnley
Helen Reed
Company Number
07296398 (England and Wales)
Registered Office
Hare House
732 Whittingham Lane
Preston
PR3 2JJ
Accountants
The Tax Farm
Hare House
732 Whittingham Lane
Preston
PR3 2JJ
PRS Consultancy Limited
Statement of financial position
as at 30 June 2024
Investment property
350,000
350,000
Cash at bank and in hand
2,569
1,306
Creditors: amounts falling due within one year
(37,609)
(28,175)
Net current liabilities
(34,470)
(25,611)
Total assets less current liabilities
315,530
324,389
Creditors: amounts falling due after more than one year
(268,421)
(265,905)
Provisions for liabilities
Deferred tax
(22,463)
(22,463)
Called up share capital
10
10
Profit and loss account
24,636
36,011
Shareholders' funds
24,646
36,021
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by
Peter Charnley
Director
Company Registration No. 07296398
PRS Consultancy Limited
Notes to the Accounts
for the year ended 30 June 2024
PRS Consultancy Limited is a private company, limited by shares, registered in England and Wales, registration number 07296398. The registered office is Hare House, 732 Whittingham Lane, Preston, PR3 2JJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
PRS Consultancy Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Fair value at 1 July 2023
350,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by Peter Charnley. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
Amounts falling due within one year
Accrued income and prepayments
570
1,258
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
13,294
12,588
Other creditors
13,885
9,685
Loans from directors
10,430
5,230
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
138,865
152,159
Other creditors
129,556
113,746
PRS Consultancy Limited
Notes to the Accounts
for the year ended 30 June 2024
9
Transactions with related parties
The following amounts were outstanding at the reporting end date:
Amounts owed to related parties
P&D Property (Oldham) Limited £3,000 (2023 - £3,000)
P&PC Surveyors Limited £133,741 (2023 - £117,931)
The amount outstanding due to P&D Property (Oldham) Limited, a company in which Mr. P Charnley is a director and shareholder, is in respect of a loan. No Interest was charged on the loan during the year.
The amount outstanding due to P&PC Surveyors Limited a company in which Mr. P Charnley is a director and shareholder, is in respect of a loan. Interest was charged at a rate of 7% on the loan during the year.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).