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Registered Number: SC431751
Scotland

 

 

 

PRW 2127 LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Chartered Accountant's report to the Board of Directors on the preparation of the unaudited statutory accounts of PRW 2127 Limited for the year ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PRW 2127 Limited for the year ended 30 April 2024 as set out on pages titled Income Statement and Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of PRW 2127 Limited , as a body, in accordance with the terms of our engagement letter dated 01 June 2021.

Our work has been undertaken solely to prepare for your approval the accounts of PRW 2127 Limited and state those matters that we have agreed to state to the Board of Directors of PRW 2127 Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PRW 2127 Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that PRW 2127 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of PRW 2127 Limited.

You consider that PRW 2127 Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of PRW 2127 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.  



....................................................

Colin Dempster

Colin A Dempster Chartered Accountant
39 Bridge Street
STRATHAVEN
ML10 6AN
28 April 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 56,333    62,833 
Tangible fixed assets 4 52,055    51,805 
108,388    114,638 
Current assets      
Stocks 77,679    144,492 
Debtors 24,488    19,034 
Cash at bank and in hand 229,882    111,303 
332,049    274,829 
Creditors: amount falling due within one year (268,334)   (253,186)
Net current assets 63,715    21,643 
 
Total assets less current liabilities 172,103    136,281 
Net assets 172,103    136,281 
 

Capital and reserves
     
Called up share capital 5 1    1 
Profit and loss account 172,102    136,280 
Shareholders' funds 172,103    136,281 
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The member has not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 April 2025 and were signed by:


-------------------------------
Neil Macleod MacFarlane
Director
2
General Information
PRW 2127 Limited is a private company, limited by shares, registered in Scotland, registration number SC431751, registration address 2127 Paisley Road West, Glasgow, G52 3JL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Intangible assets
The intangible asset of purchased goodwill is amortised at a rate calculated to write off the asset on a straight line basis over its estimated useful economic life. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill, being the amount paid in connection with the purchase of the business in 2012, is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Fixtures and Fittings 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. 
2.

Average number of employees

Average number of employees during the year was 14 (2023 : 14).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 May 2023 130,000    130,000 
Additions  
Disposals  
At 30 April 2024 130,000    130,000 
Amortisation
At 01 May 2023 67,167    67,167 
Charge for year 6,500    6,500 
On disposals  
At 30 April 2024 73,667    73,667 
Net book values
At 30 April 2024 56,333    56,333 
At 30 April 2023 62,833    62,833 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 May 2023 49,254    110,320    159,574 
Additions 916    71    987 
Disposals    
At 30 April 2024 50,170    110,391    160,561 
Depreciation
At 01 May 2023 33,179    74,590    107,769 
Charge for year 703    34    737 
On disposals    
At 30 April 2024 33,882    74,624    108,506 
Net book values
Closing balance as at 30 April 2024 16,288    35,767    52,055 
Opening balance as at 01 May 2023 16,075    35,730    51,805 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

3