REGISTERED NUMBER: |
Priory Lane 3 Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2025 |
REGISTERED NUMBER: |
Priory Lane 3 Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2025 |
Priory Lane 3 Limited (Registered number: 09994727) |
Contents of the Financial Statements |
for the year ended 31 March 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Priory Lane 3 Limited |
Company Information |
for the year ended 31 March 2025 |
Directors: |
Registered office: |
Registered number: |
Priory Lane 3 Limited (Registered number: 09994727) |
Balance Sheet |
31 March 2025 |
2025 | 2024 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Shareholders' funds |
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 were approved by the Board of Directors and authorised for issue on |
Priory Lane 3 Limited (Registered number: 09994727) |
Notes to the Financial Statements |
for the year ended 31 March 2025 |
1. | Statutory information |
Priory Lane 3 Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
The company was dormant throughout the current year and previous year. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
(a) Critical judgements in applying the company's accounting policies |
The company makes a number of assessments which require judgement in preparing the accounts and can have a significant effect upon the financial statements. However due to the straight forward nature of the company's business, management does not believe that there are any judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
(b) Key accounting estimates and assumptions |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. However due to the straight forward nature of the company's business, management does not believe that there are any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
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. |
Priory Lane 3 Limited (Registered number: 09994727) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2025 |
2. | Accounting policies - continued |
Financial instruments |
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds both basic and complex financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments derivative financial instruments, trade and other payables, convertible loan notes and loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full. |
Financial assets / liabilities - classified as basic financial instruments |
(i) Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. |
(ii) Trade and other receivables |
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. |
At the end of each reporting period, the company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss. |
(iii) Equity investments |
Equity investments comprise ordinary shares, not publicly traded in active markets for which a reliable fair value cannot be measured reliably. Equity investments are initially recognised at fair value, which is the transaction price excluding transaction costs and are subsequently measured at fair value through profit or loss. |
(iv) Trade and other payables and loans and borrowings |
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid. |
Going concern |
These financial statements have been prepared on a going concern basis. |
The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. |
Based on assessment, the directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities. |
In addition, the company's assets are assessed for recoverability on a regular basis, and the directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements. |
3. | Employees and directors |
The average number of employees during the year was NIL (2024 - NIL). |
Priory Lane 3 Limited (Registered number: 09994727) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2025 |
4. | Investment property |
Total |
£ |
Fair value |
At 1 April 2024 |
and 31 March 2025 |
Net book value |
At 31 March 2025 |
At 31 March 2024 |
5. | Debtors: amounts falling due within one year |
2025 | 2024 |
£ | £ |
Other debtors |
6. | Creditors: amounts falling due within one year |
2025 | 2024 |
£ | £ |
Amounts owed to group undertakings |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2025 | 2024 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |