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REGISTERED NUMBER: 02136624 (England and Wales)



















PROSPERWEALTH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






PROSPERWEALTH LIMITED (REGISTERED NUMBER: 02136624)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


PROSPERWEALTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mr R Savidge
Mrs J S Savidge





SECRETARY: Mrs J S Savidge





REGISTERED OFFICE: 81 Burton Road
Derby
Derbyshire
DE1 1TJ





REGISTERED NUMBER: 02136624 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

PROSPERWEALTH LIMITED (REGISTERED NUMBER: 02136624)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 325,000 325,000
325,000 325,000

CURRENT ASSETS
Debtors 6 2,406 1,299
Cash at bank 34,659 27,104
37,065 28,403
CREDITORS
Amounts falling due within one year 7 25,405 24,781
NET CURRENT ASSETS 11,660 3,622
TOTAL ASSETS LESS CURRENT LIABILITIES 336,660 328,622

PROVISIONS FOR LIABILITIES 7,173 7,173
NET ASSETS 329,487 321,449

CAPITAL AND RESERVES
Called up share capital 8 2 2
Fair value reserve 9 161,767 161,767
Retained earnings 167,718 159,680
SHAREHOLDERS' FUNDS 329,487 321,449

PROSPERWEALTH LIMITED (REGISTERED NUMBER: 02136624)

BALANCE SHEET - continued
31 OCTOBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by:





Mr R Savidge - Director


PROSPERWEALTH LIMITED (REGISTERED NUMBER: 02136624)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Prosperwealth Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the total amount of rents receivable by the company for the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) which, unlike the Companies Act 2006, does not require depreciation of investment properties.

Investment properties are held for their investment potential and not for use of the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PROSPERWEALTH LIMITED (REGISTERED NUMBER: 02136624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 November 2023
and 31 October 2024 1,976
DEPRECIATION
At 1 November 2023
and 31 October 2024 1,976
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 325,000
NET BOOK VALUE
At 31 October 2024 325,000
At 31 October 2023 325,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2024 325,000

PROSPERWEALTH LIMITED (REGISTERED NUMBER: 02136624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. INVESTMENT PROPERTY - continued

If Investment properties had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 156,060 156,060

Investment properties were valued on an open market basis on 31 October 2024 by Mr R Savidge, a director of the company .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 727 554
Prepayments and accrued income 1,679 745
2,406 1,299

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 10,415 9,438
Other creditors 750 750
Directors' current accounts 14,240 14,593
25,405 24,781

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Fair
value
reserve
£   
At 1 November 2023
and 31 October 2024 161,767