Acorah Software Products - Accounts Production 16.3.350 false true true 30 May 2023 31 May 2022 false 31 May 2023 30 May 2024 30 May 2024 01818658 Mr D Charalambous Ms C Page Ms C Whelan Ms C Page iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01818658 2023-05-30 01818658 2024-05-30 01818658 2023-05-31 2024-05-30 01818658 frs-core:CurrentFinancialInstruments 2024-05-30 01818658 frs-core:Non-currentFinancialInstruments 2024-05-30 01818658 frs-core:BetweenOneFiveYears 2024-05-30 01818658 frs-core:FurnitureFittings 2024-05-30 01818658 frs-core:FurnitureFittings 2023-05-31 2024-05-30 01818658 frs-core:FurnitureFittings 2023-05-30 01818658 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-05-30 01818658 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 2024-05-30 01818658 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-30 01818658 frs-core:MotorVehicles 2024-05-30 01818658 frs-core:MotorVehicles 2023-05-31 2024-05-30 01818658 frs-core:MotorVehicles 2023-05-30 01818658 frs-core:WithinOneYear 2024-05-30 01818658 frs-core:ShareCapital 2024-05-30 01818658 frs-core:RetainedEarningsAccumulatedLosses 2024-05-30 01818658 frs-bus:PrivateLimitedCompanyLtd 2023-05-31 2024-05-30 01818658 frs-bus:FilletedAccounts 2023-05-31 2024-05-30 01818658 frs-bus:SmallEntities 2023-05-31 2024-05-30 01818658 frs-bus:AuditExempt-NoAccountantsReport 2023-05-31 2024-05-30 01818658 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-31 2024-05-30 01818658 frs-bus:Director1 2023-05-31 2024-05-30 01818658 frs-bus:Director2 2023-05-31 2024-05-30 01818658 frs-bus:Director3 2023-05-31 2024-05-30 01818658 frs-bus:CompanySecretary1 2023-05-31 2024-05-30 01818658 frs-countries:EnglandWales 2023-05-31 2024-05-30 01818658 2022-05-30 01818658 2023-05-30 01818658 2022-05-31 2023-05-30 01818658 frs-core:CurrentFinancialInstruments 2023-05-30 01818658 frs-core:Non-currentFinancialInstruments 2023-05-30 01818658 frs-core:BetweenOneFiveYears 2023-05-30 01818658 frs-core:WithinOneYear 2023-05-30 01818658 frs-core:ShareCapital 2023-05-30 01818658 frs-core:RetainedEarningsAccumulatedLosses 2023-05-30
Registered number: 01818658
PR Entertainments Limited
Unaudited Financial Statements
For The Year Ended 30 May 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 01818658
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 243,185 390,766
243,185 390,766
CURRENT ASSETS
Stocks 5 32,882 30,302
Debtors 6 235,102 351,979
Cash at bank and in hand 63,553 80,279
331,537 462,560
Creditors: Amounts Falling Due Within One Year 7 (1,022,192 ) (1,293,882 )
NET CURRENT ASSETS (LIABILITIES) (690,655 ) (831,322 )
TOTAL ASSETS LESS CURRENT LIABILITIES (447,470 ) (440,556 )
Creditors: Amounts Falling Due After More Than One Year 8 (10,833 ) (20,833 )
NET LIABILITIES (458,303 ) (461,389 )
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Income Statement (459,303 ) (462,389 )
SHAREHOLDERS' FUNDS (458,303) (461,389)
Page 1
Page 2
For the year ending 30 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr D Charalambous
Director
29/05/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PR Entertainments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01818658 . The registered office is 1st Floor , 5 Hill Rise, Richmond , Surrey , TW10 6UQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Presentation currency
The financial statements are presented in £ sterling, which is the functional currency of the Company and rounded to the nearest £.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis. The directors have considered 12 months from the date of authorization of these financial statements.
The directors believe that the Company is able to continue to meet its liabilities as they fall due for the foreseeable future and cite the following:
Due to the current UK general economic uncertainty and high inflation rates at the date of this report, management continue to monitor and control costs across the business on an ongoing basis. Further, management are taking steps to actively promote the Company's night club and restaurants to attract more customers.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
  • The Company recognises revenue when goods are sold at the restaurants and club; 
  • The amount of revenue can be reliably measured, point of sale records are maintained; 
  • It is probable that future economic benefits will flow to the entity; 
  • Forecasts show sustainable income sources and profits; and
  • Specific criteria have been met for each of the Company's activities.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Short leasehold improvements - over the lease term
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.5. Leasing and Hire Purchase Contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Page 3
Page 4
2.6. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. 
The cost of finished goods and work in progress comprises direct materials and, where applicable, costs that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
2.7. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. The company only has basic financial instruments.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. 
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. 
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. 
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. 
2.10. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 4
Page 5
2.11. Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 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.
2.12. Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. 
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 68 (2023: 69)
68 69
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 31 May 2023 3,478,978 6,125 1,146,106 4,631,209
Additions 18,175 - 24,839 43,014
As at 30 May 2024 3,497,153 6,125 1,170,945 4,674,223
Depreciation
As at 31 May 2023 3,180,180 6,125 1,054,138 4,240,443
Provided during the period 157,228 - 33,367 190,595
As at 30 May 2024 3,337,408 6,125 1,087,505 4,431,038
Net Book Value
As at 30 May 2024 159,745 - 83,440 243,185
As at 31 May 2023 298,798 - 91,968 390,766
Land and buildings represent short term leasehold improvements.
5. Stocks
2024 2023
£ £
Finished goods 32,882 30,302
Stock comprises food and beverages.
Page 5
Page 6
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 99,872 125,506
Prepayments and accrued income 130,094 146,446
Other debtors 5,136 80,027
235,102 351,979
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 482,550 598,767
Bank loans and overdrafts 9,999 9,999
Other taxes and social security 106,261 186,693
VAT 130,701 124,851
Other creditors 131,299 118,421
Accruals and deferred income 35,266 32,463
Directors' loan accounts 126,116 222,688
1,022,192 1,293,882
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,833 20,833
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Other Commitments
At 30 May 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
2024 2023
£ £
Not later than one year 163,290 163,290
Later than one year and not later than five years 163,290 326,580
326,580 489,870
11. Related Party Transactions
The Company occupies business premises owned by the controlling shareholder and director of the Company. The profit and
loss account for 2024 include rent charges for these premises of £NIL (2023 -£NIL)
The Company owes the Directors at 30 May 2024 a total of £126,116 (2023 - £222,688). The loans are interest free and
repayable on demand.
Page 6