| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| PRINCEGB LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| PRINCEGB LIMITED |
| PRINCEGB LIMITED (REGISTERED NUMBER: 11530934) |
| Contents of the Financial Statements |
| for the year ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PRINCEGB LIMITED |
| Company Information |
| for the year ended 31 August 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| PRINCEGB LIMITED (REGISTERED NUMBER: 11530934) |
| Balance Sheet |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Other reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| PRINCEGB LIMITED (REGISTERED NUMBER: 11530934) |
| Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were approved by the director and authorised for issue on |
| PRINCEGB LIMITED (REGISTERED NUMBER: 11530934) |
| Notes to the Financial Statements |
| for the year ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Princegb Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts. Revenue from the sale of goods is recognised at the point of sale. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
| 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 |
| Assets under construction | Not depreciated |
| 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. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
| 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. |
| PRINCEGB LIMITED (REGISTERED NUMBER: 11530934) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Impairment |
| At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
| Government assistance |
| Included in bank loans is a coronavirus business interruption loan (CBIL) which is guaranteed by the government. As part of the CBIL scheme the government is paying the first year of interest on the loan. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Assets |
| under |
| construction |
| £ |
| COST |
| Additions |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| PRINCEGB LIMITED (REGISTERED NUMBER: 11530934) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2024 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 31 August 2024 is represented by: |
| £ |
| Valuation in 2022 | 1,604 |
| Valuation in 2023 | 5,000 |
| Cost | 413,396 |
| 420,000 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 9. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 1,651 | 1,651 |
| Deferred tax |
| £ |
| Balance at 1 September 2023 |
| Balance at 31 August 2024 |
| PRINCEGB LIMITED (REGISTERED NUMBER: 11530934) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2024 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary A | £0.10 | 10 | 10 |
| Ordinary B | £0.10 | - | - |
| 10 | 10 |