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Registered number: 08576845









PRINHOLD WOOLWICH LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
PRINHOLD WOOLWICH LIMITED
REGISTERED NUMBER: 08576845

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,045,364
2,045,364

  
2,045,364
2,045,364

Current assets
  

Debtors: amounts falling due within one year
 5 
4,873
4,480

Cash at bank and in hand
 6 
40,859
78,548

  
45,732
83,028

Creditors: amounts falling due within one year
 7 
(1,282,767)
(1,371,893)

Net current liabilities
  
 
 
(1,237,035)
 
 
(1,288,865)

Total assets less current liabilities
  
808,329
756,499

Creditors: amounts falling due after more than one year
 8 
(19,176)
(22,734)

  

Net assets
  
789,153
733,765


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
789,053
733,665

  
789,153
733,765


Page 1

 
PRINHOLD WOOLWICH LIMITED
REGISTERED NUMBER: 08576845
    
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 WOOLWICH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Prinhold Woolwich 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

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.


Page 3

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

2.Accounting policies (continued)

 
2.7

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




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


4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
2,045,364



At 31 July 2024
2,045,364

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






5.


Debtors

2024
2023
£
£


Prepayments and accrued income
4,873
4,480

4,873
4,480


Page 4

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

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
40,859
78,548

40,859
78,548



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,453
3,453

Other loans
1,216,869
1,314,869

Corporation tax
18,460
22,047

Other taxation and social security
5,995
4,443

Other creditors
22,359
24,046

Accruals and deferred income
15,631
3,035

1,282,767
1,371,893



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
19,176
22,734

19,176
22,734


The following liabilities were secured:

2024
2023
£
£



Other loans
1,216,869
1,314,869

1,216,869
1,314,869

Details of security provided:

Loans totalling £1,216,869 (2023: £1,314,869) were secured at the Balance Sheet date by way of a legal
mortgage charge over the property held.

Page 5

 
PRINHOLD WOOLWICH 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
3,453
3,453

Other loans
1,216,869
1,314,869


1,220,322
1,318,322

Amounts falling due 1-2 years

Bank loans
3,453
3,453


3,453
3,453

Amounts falling due 2-5 years

Bank loans
10,360
10,361


10,360
10,361

Amounts falling due after more than 5 years

Bank loans
5,362
8,920

5,362
8,920

1,239,497
1,341,056


 
Page 6