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Registered number: 09111600









PRINHOLD 6 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
PRINHOLD 6 LIMITED
REGISTERED NUMBER: 09111600

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
3,593,616
3,593,616

  
3,593,616
3,593,616

Current assets
  

Debtors: amounts falling due within one year
 5 
5,570
5,130

Cash at bank and in hand
 6 
35,781
141,487

  
41,351
146,617

Creditors: amounts falling due within one year
 7 
(2,342,812)
(2,448,484)

Net current liabilities
  
 
 
(2,301,461)
 
 
(2,301,867)

Total assets less current liabilities
  
1,292,155
1,291,749

Creditors: amounts falling due after more than one year
 8 
(28,545)
(33,839)

  

Net assets
  
1,263,610
1,257,910


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,263,510
1,257,810

  
1,263,610
1,257,910


Page 1

 
PRINHOLD 6 LIMITED
REGISTERED NUMBER: 09111600
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 April 2025.




Jonathan Beck
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PRINHOLD 6 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Prinhold 6 Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is First Floor, Radius House, 51 Clarendon Road, Watford, WD17 1HP.
The company's principal activity is that of investment property.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

 
2.2

Turnover

Turnover comprises revenue recognised in respect of rents received from the investment property, exclusive of VAT. Revenue is recognised over the period in which it relates, amounts received in advance are carried forward as deferred income. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
PRINHOLD 6 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.


3.


Employees

2024
2023
£
£

Wages and salaries
40,362
-

Cost of defined contribution pension scheme
491
-

40,853
-


The average monthly number of employees, including directors, during the year was 2 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
3,593,616



At 31 July 2024
3,593,616

The 2024 valuations were made by the director, on an open market value for existing use basis.






Page 4

 
PRINHOLD 6 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Prepayments and accrued income
5,570
5,130

5,570
5,130



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
35,781
141,487

35,781
141,487



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,130
5,130

Other loans
2,287,000
2,231,000

Credit note issued on account
-
154,417

Corporation tax
292
-

Other taxation and social security
6,896
9,012

Other creditors
12,597
1,980

Accruals and deferred income
30,897
46,945

2,342,812
2,448,484


Included in other loans is an amount of £2,287,000 (2023: £2,231,000) which is secured by way of a legal mortgage charge over the property held. 


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
28,545
33,839

28,545
33,839


Page 5

 
PRINHOLD 6 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,130
5,130

Other loans
2,287,000
2,231,000


2,292,130
2,236,130

Amounts falling due 1-2 years

Bank loans
5,130
5,130


5,130
5,130

Amounts falling due 2-5 years

Bank loans
15,391
15,391


15,391
15,391

Amounts falling due after more than 5 years

Bank loans
8,023
13,317

8,023
13,317

2,320,674
2,269,968



10.


Pension commitments

The company operated a defined contribution pension scheme. The pension cost charge represents contributions payable by the company to the fund and amounted to £491 (2023: £Nil). There was an outstanding balance of £127 (2023: £Nil) at the year end.

 
Page 6