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Registered number: 4277550

Pride Resources Limited

ACCOUNTS
FOR THE YEAR ENDED 31/08/2024

Prepared By:
Albeck Limited
Chartered Accountants
49 Mowbray Road
Edgware
Middlesex
HA8 8JL

Pride Resources Limited

ACCOUNTS
FOR THE YEAR ENDED 31/08/2024
DIRECTORS
Mr A Weinberger
Mrs M Weinberger
SECRETARY
Mrs M Weinberger
REGISTERED OFFICE
52 Darenth Road
Stamford Hill
London
N16 6EJ
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 4277550
BANKERS
HSBC
ACCOUNTANTS
Albeck Limited
Chartered Accountants
49 Mowbray Road
Edgware
Middlesex
HA8 8JL

Pride Resources Limited

ACCOUNTS
FOR THEYEARENDED31/08/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Pride Resources Limited

BALANCE SHEET AT 31/08/2024
20242023
Notes££
FIXED ASSETS
Tangible assets22,490,6811,868,058
CURRENT ASSETS
Cash at bank and in hand5,06621,742
5,06621,742
CREDITORS: Amounts falling due within one year4453,710171,307
NET CURRENT LIABILITIES(448,644)(149,565)
TOTAL ASSETS LESS CURRENT LIABILITIES2,042,0371,718,493
CREDITORS: Amounts falling due after more than one year5415,68253,474
PROVISIONS FOR LIABILITIES AND CHARGES7230,500230,500
NET ASSETS1,395,8551,434,519
CAPITAL AND RESERVES
Called up share capital822
Profit and loss account1,395,8531,434,517
SHAREHOLDERS' FUNDS1,395,8551,434,519
For the year ending 31/08/2024 the company was entitled to exemption 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 12/03/2025 and signed on their behalf by
.............................
Mr A Weinberger
Director

Pride Resources Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/08/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Change In Accounting Policy
In preparing the financial statements for the current year, the company has adopted the following Financial Reporting Standards:
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and Fittingsreducing balance 25%
1d. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with FRS102. This departure from Companies Act requirements is necessary to show a true and fair view. Deferred taxation is provided on all fair value adjustments.
1e. Dividends On Shares Presented Within Shareholders Funds
Dividends unpaid at the balance sheet date are only recognised as a liability at that date to the extent that they are appropriately authorised and are no longer at the discretion of the Company Unpaid dividends that do not meet these criteria are disclosed in the notes to the financial statements.
1f. Other Income
Other income represents fair value adjustment to investment properties. The corresponding provision for deferred taxation is included in the taxation line in the accounts (see note 3 to the accounts).

Pride Resources Limited

2. TANGIBLE FIXED ASSETS
Fixtures
and FittingsTotal
££
Cost
At 01/09/202312,76812,768
At 31/08/202412,76812,768
Depreciation
At 01/09/202311,21011,210
For the year520520
At 31/08/202411,73011,730
Net Book Amounts
At 31/08/20241,0381,038
At 31/08/20231,5581,558
3. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 01/09/20231,866,5001,866,500
Additions623,143623,143
At 31/08/20242,489,6432,489,643
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax-4,270
PAYE control2-
Other creditors448,548165,357
Accruals5,1601,680
453,710171,307

Pride Resources Limited

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Bank loans (unsecured) >1yr8,68213,474
Bank loans (secured) >1yr407,00040,000
415,68253,474
6. EMPLOYEES
20242023
No.No.
Average number of employees22
7. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation230,500230,500
230,500230,500
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
9. CONTROLLING PARTY
The company is controlled by Mr A Weinberger, the director, by virtue of the fact that, together with his spouse, he holds 100% of the company's issued and called up, voting share capital.

Pride Resources Limited

10. RELATED PARTY TRANSACTIONS
During the year, certain loans were made by the directors to the company. The loans are interest free and repayable on demand. At the year end, the balance due to the directors totalled £161,007 (2023: £159,562).
During the year, dividends of £1,000 (2023: £2,000) were paid to each of the directors, totalling £2,000 (2023: £4,000).