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PROSPECT CHANGE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






PROSPECT CHANGE LTD (REGISTERED NUMBER: 09707234)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROSPECT CHANGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mrs R E Geddes
Miss J G Anderton





REGISTERED OFFICE: Fairfax House, 6a Mill Field Road
Cottingley
Bingley
West Yorkshire
BD16 1PY





REGISTERED NUMBER: 09707234 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

PROSPECT CHANGE LTD (REGISTERED NUMBER: 09707234)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,122 125

CURRENT ASSETS
Debtors 5 16,861 14,406
Cash at bank 34,001 46,100
50,862 60,506
CREDITORS
Amounts falling due within one year 6 40,983 46,818
NET CURRENT ASSETS 9,879 13,688
TOTAL ASSETS LESS CURRENT LIABILITIES 12,001 13,813

CREDITORS
Amounts falling due after more than one
year

7

(11,478

)

(13,610

)

PROVISIONS FOR LIABILITIES 8 (403 ) (24 )
NET ASSETS 120 179

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 20 79
SHAREHOLDERS' FUNDS 120 179

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

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

PROSPECT CHANGE LTD (REGISTERED NUMBER: 09707234)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





Mrs R E Geddes - Director


PROSPECT CHANGE LTD (REGISTERED NUMBER: 09707234)

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


1. STATUTORY INFORMATION

Prospect Change 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

PROSPECT CHANGE LTD (REGISTERED NUMBER: 09707234)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 - 3,139 3,139
Additions 622 2,298 2,920
At 30 June 2024 622 5,437 6,059
DEPRECIATION
At 1 July 2023 - 3,014 3,014
Charge for year 124 799 923
At 30 June 2024 124 3,813 3,937
NET BOOK VALUE
At 30 June 2024 498 1,624 2,122
At 30 June 2023 - 125 125

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 11,340
Other debtors - 2,880
Directors' current accounts 11,846 -
VAT 3,895 -
Prepayments 1,120 186
16,861 14,406

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 16,043 2,000
Trade creditors 227 (224 )
Tax 22,503 26,673
Social security and other taxes 249 260
VAT - 16,237
Accrued expenses 1,961 1,872
40,983 46,818

The Director's loan is interest free and repayable on demand.

PROSPECT CHANGE LTD (REGISTERED NUMBER: 09707234)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 2,000 2,000
Bank loans - 2-5 years 6,000 6,000
Bank loans more 5 yr by instal 3,478 5,610
11,478 13,610

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,478 5,610

8. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 403 24

Deferred
tax
£   
Balance at 1 July 2023 24
Accelerated capital allowances 379
Balance at 30 June 2024 403

The entire provision for deferred taxation is in respect of accelerated capital allowances.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

PROSPECT CHANGE LTD (REGISTERED NUMBER: 09707234)

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


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Mrs R E Geddes
Balance outstanding at start of year 1,440 -
Amounts advanced 42,683 53,840
Amounts repaid (38,200 ) (52,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,923 1,440

Miss J G Anderton
Balance outstanding at start of year 1,440 -
Amounts advanced 42,683 53,840
Amounts repaid (38,200 ) (52,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,923 1,440

The loans to the directors' is interest free and repayable on demand.

The loans will be repaid through a dividend payment within 9 months of the year end.

11. ULTIMATE CONTROLLING PARTY

The directors acting together control the company.