5 false false false false true false false false false false false true false false true true true true No description of principal activity 2023-07-10 Sage Accounts Production Advanced 2023 - FRS102_2023 164,394 164,394 164,394 4,463,928 4,463,928 4,463,928 xbrli:pure xbrli:shares iso4217:GBP 14991567 2023-07-10 2024-12-31 14991567 2024-12-31 14991567 2023-07-09 14991567 core:Subsidiary1 2023-07-10 2024-12-31 14991567 core:Subsidiary2 2023-07-10 2024-12-31 14991567 core:Subsidiary3 2023-07-10 2024-12-31 14991567 core:Subsidiary4 2023-07-10 2024-12-31 14991567 bus:OrdinaryShareClass1 2023-07-10 2024-12-31 14991567 bus:OrdinaryShareClass2 2023-07-10 2024-12-31 14991567 bus:OrdinaryShareClass3 2023-07-10 2024-12-31 14991567 bus:Director1 2023-07-10 2024-12-31 14991567 core:WithinOneYear 2024-12-31 14991567 core:AfterOneYear 2024-12-31 14991567 core:ShareCapital 2024-12-31 14991567 core:SharePremium 2024-12-31 14991567 core:RetainedEarningsAccumulatedLosses 2024-12-31 14991567 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-12-31 14991567 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 14991567 core:Non-currentFinancialInstruments 2024-12-31 14991567 bus:SmallEntities 2023-07-10 2024-12-31 14991567 bus:AuditExempt-NoAccountantsReport 2023-07-10 2024-12-31 14991567 bus:SmallCompaniesRegimeForAccounts 2023-07-10 2024-12-31 14991567 bus:PrivateLimitedCompanyLtd 2023-07-10 2024-12-31 14991567 bus:FullAccounts 2023-07-10 2024-12-31 14991567 bus:OrdinaryShareClass1 2024-12-31 14991567 bus:OrdinaryShareClass2 2024-12-31 14991567 bus:OrdinaryShareClass3 2024-12-31 14991567 bus:AllOrdinaryShares 2024-12-31 14991567 core:ComputerSoftware 2023-07-10 2024-12-31 14991567 core:ComputerSoftware 2024-12-31
COMPANY REGISTRATION NUMBER: 14991567
Prospire Technologies Limited
Filleted Unaudited Financial Statements
31 December 2024
Prospire Technologies Limited
Statement of Financial Position
31 December 2024
31 Dec 24
Note
£
£
Fixed assets
Intangible assets
5
164,394
Investments
6
4,463,928
------------
4,628,322
Current assets
Debtors
7
2,007,305
Cash at bank and in hand
1,951,807
------------
3,959,112
Creditors: amounts falling due within one year
8
22,711
------------
Net current assets
3,936,401
------------
Total assets less current liabilities
8,564,723
Creditors: amounts falling due after more than one year
9
5,500,000
------------
Net assets
3,064,723
------------
Capital and reserves
Called up share capital
10
129
Share premium account
3,651,781
Profit and loss account
( 587,187)
------------
Shareholders funds
3,064,723
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Prospire Technologies Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 7 April 2025 , and are signed on behalf of the board by:
Mr I Drozdov
Director
Company registration number: 14991567
Prospire Technologies Limited
Notes to the Financial Statements
Period from 10 July 2023 to 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 86-90 Paul Street, London, EC2A 4NE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) Disclosures in respect of share-based payments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 5 .
5. Intangible assets
Software
£
Cost
Additions
164,394
---------
At 31 December 2024
164,394
---------
Amortisation
At 10 July 2023 and 31 December 2024
---------
Carrying amount
At 31 December 2024
164,394
---------
6. Investments
Shares in group undertakings
£
Cost
At 10 July 2023
Additions
4,463,928
------------
At 31 December 2024
4,463,928
------------
Impairment
At 10 July 2023 and 31 December 2024
------------
Carrying amount
At 31 December 2024
4,463,928
------------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Prospire Operations Limited
Ordinary
100
LIme Property (Hull) Limited
Indirect
100
Lime Property Holdings Limited - Dormant
Indirect
100
Gallant Richardson Limited
Indirect
100
7. Debtors
31 Dec 24
£
Amounts owed by group undertakings
2,000,000
Prepayments and accrued income
1,432
Other debtors
5,873
------------
2,007,305
------------
8. Creditors: amounts falling due within one year
31 Dec 24
£
Trade creditors
20,081
Social security and other taxes
2,226
Other creditors
404
--------
22,711
--------
9. Creditors: amounts falling due after more than one year
31 Dec 24
£
Other creditors
5,500,000
------------
10. Called up share capital
Issued, called up and fully paid
31 Dec 24
No.
£
Ordinary shares of £ 0.0001 each
1,000,000
100
Preference shares EUR shares of £ 0.000085 each
117,018
10
Preference shares USD shares of £ 0.000079 each
237,218
19
------------
----
1,354,236
129
------------
----
11. Director's advances, credits and guarantees
During the year there were no director's advances, credits and guarantees.