Company Registration No. 11894492 (England and Wales)
PRL Investor Limited
Financial statements
for the year ended 30 June 2024
Pages for filing with the registrar
PRL Investor Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
PRL Investor Limited
Statement of financial position
As at 30 June 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
100
100
Current assets
Debtors
4
4
4
Creditors: amounts falling due within one year
5
(10,803)
(10,608)
Net current liabilities
(10,799)
(10,604)
Net liabilities
(10,699)
(10,504)
Capital and reserves
Called up share capital
6
88
88
Capital redemption reserve
16
16
Profit and loss reserves
(10,803)
(10,608)
Total equity
(10,699)
(10,504)
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 October 2024 and are signed on its behalf by:
Nigel Melville
Director
Company Registration No. 11894492
PRL Investor Limited
Statement of changes in equity
For the year ended 30 June 2024
2
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2022
104
(10,413)
(10,309)
Year ended 30 June 2023:
Profit and total comprehensive income
-
-
19,726,007
19,726,007
Own shares acquired
-
-
(19,726,202)
(19,726,202)
Redemption of shares
6
(16)
16
Balance at 30 June 2023
88
16
(10,608)
(10,504)
Year ended 30 June 2024:
Loss and total comprehensive income
-
-
(195)
(195)
Balance at 30 June 2024
88
16
(10,803)
(10,699)
PRL Investor Limited
Notes to the financial statements
For the year ended 30 June 2024
3
1
Accounting policies
Company information
PRL Investor Limited is a private company limited by shares incorporated in England and Wales. The registered office is Thomas House, 84 Eccleston Square, London, SW1V 1PX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
PRL Investor Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
4
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
PRL Investor Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
5
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4
4
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
10,803
10,608
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of 0.0001p each
22,000,000
22,000,000
22
22
B Ordinary shares of 0.0001p each
22,000,000
22,000,000
22
22
P shares of 0.0001p each
44,000,000
44,000,000
44
44
88,000,000
88,000,000
88
88
During the prior year the company repurchased and subsequently cancelled 4,000,000 £0.000001 A Ordinary shares, 4,000,000 £0.000001 B Ordinary shares and 8,000,000 £0.000001 P shares.
The A Ordinary shares carry dividend, return of capital and are liable to be redeemed at the option of the company as set out is its articles of association.
The B Ordinary shares carry dividend and return of capital rights.
The P shares carry voting, dividend and return of capital rights.
PRL Investor Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
6
7
Related party transactions
At the balance sheet date, an amount of £10,803 (2023: £10,608) was owed to Premier Rugby Limited, an associated company.
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Neil Davies
Statutory Auditors:
Saffery LLP
Date of audit report:
7 November 2024