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Company No: 12241916 (England and Wales)

PRAA HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

PRAA HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

PRAA HOLDINGS LIMITED

BALANCE SHEET

As at 31 March 2024
PRAA HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 328,530 328,833
328,530 328,833
Current assets
Debtors 4 418,152 414,060
Cash at bank and in hand 5,072 293
423,224 414,353
Creditors: amounts falling due within one year 5 ( 17,342) ( 16,419)
Net current assets 405,882 397,934
Total assets less current liabilities 734,412 726,767
Creditors: amounts falling due after more than one year 6 ( 784,627) ( 757,208)
Net liabilities ( 50,215) ( 30,441)
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account ( 50,216 ) ( 30,442 )
Total shareholder's deficit ( 50,215) ( 30,441)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of PRAA Holdings Limited (registered number: 12241916) were approved and authorised for issue by the Board of Directors on 24 March 2025. They were signed on its behalf by:

Mr L Burnard
Director
PRAA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
PRAA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

PRAA Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Workshop Shute Lane, Porthleven, Helston, TR13 9HY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2023 328,227 2,128 330,355
At 31 March 2024 328,227 2,128 330,355
Accumulated depreciation
At 01 April 2023 0 1,522 1,522
Charge for the financial year 0 303 303
At 31 March 2024 0 1,825 1,825
Net book value
At 31 March 2024 328,227 303 328,530
At 31 March 2023 328,227 606 328,833

4. Debtors

2024 2023
£ £
Trade debtors 496 1,241
Amounts owed by Group undertakings 336,850 351,750
Other debtors 80,806 61,069
418,152 414,060

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 823 780
Taxation and social security 14,769 14,989
Other creditors 1,750 650
17,342 16,419

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 296,146 296,185
Amounts owed to Group undertakings 0 461,023
Other creditors 488,481 0
784,627 757,208

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Related party transactions

Other related party transactions

2024 2023
£ £
Boss Praa Limited 336,850 351,750
REDS Group Limited (488,481) (461,023)
Directors loan 60,381 45,603

During the year amounts owed by BOSS Praa Limited by the company was £336,850 (2023 - £351,750).

During the year amounts owed to REDS Group Limited by the company was £488,481 (2023 - £461,023).

During the year overdrawn Director's loan amount is £60,381 (2023 - £45,603). Interest has been charged at 2.25% per annum.

9. Ultimate controlling party

Parent Company:

Boss Praa Limited
The Workshop, Shute Lane, Porthleven,
Helston, Cornwall, England, TR13 9HY