REGISTERED NUMBER: 12091282 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

PRIME LANDINGS INTERNATIONAL COMPANY

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W Y A Chan

J W Royffe

SECRETARY:

W Y A Chan

REGISTERED OFFICE:

Ground Floor

Finchale House

Belmont Business Park

Durham

DH1 1TW

REGISTERED NUMBER:

12091282 (England and Wales)

ACCOUNTANTS:

RMT Ribchesters

Accountants and Business Advisors

Finchale House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Tangible assets

4

125

195

Investment property

5

237,494

372,360

237,619

372,555

CURRENT ASSETS

Debtors

6

250

763

Cash at bank

67,003

53,807

67,253

54,570

CREDITORS

Amounts falling due within one year

7

326,538

498,689

NET CURRENT LIABILITIES

(259,285

)

(444,119

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(21,666

)

(71,564

)

CAPITAL AND RESERVES

Called up share capital

8

10

10

Retained earnings

(21,676

)

(71,574

)

SHAREHOLDERS' FUNDS

(21,666

)

(71,564

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 14 March 2025 and were signed on its behalf by:

W Y A Chan - Director

1.	STATUTORY INFORMATION

Prime Landings International Company Limited 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

-

straight line over 5 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2023

and 31 July 2024

350

DEPRECIATION

At 1 August 2023

155

Charge for year

70

At 31 July 2024

225

NET BOOK VALUE

At 31 July 2024

125

At 31 July 2023

195

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2023

372,360

Disposals

(134,866

)

At 31 July 2024

237,494

NET BOOK VALUE

At 31 July 2024

237,494

At 31 July 2023

372,360

The directors have valued the property at fair value at the year-end.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

250

763

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1

1

Other creditors

326,537

498,688

326,538

498,689

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10

Ordinary

£1.00

10

10

9.	RELATED PARTY DISCLOSURES

During the year the director maintained an interest free loan to the company. At 31 July 2024 the balance on this loan was £323,658 (2023: £496,943).