Silverfin false false 31/10/2024 01/08/2023 31/10/2024 Mr D J Weston 30/07/2019 Mrs K Weston 30/07/2019 12 February 2025 The principal activity of the Company during the financial year was that of a sales and business development specialist in the automotive industry. 12129388 2024-10-31 12129388 bus:Director1 2024-10-31 12129388 bus:Director2 2024-10-31 12129388 2023-07-31 12129388 core:CurrentFinancialInstruments 2024-10-31 12129388 core:CurrentFinancialInstruments 2023-07-31 12129388 core:ShareCapital 2024-10-31 12129388 core:ShareCapital 2023-07-31 12129388 core:RetainedEarningsAccumulatedLosses 2024-10-31 12129388 core:RetainedEarningsAccumulatedLosses 2023-07-31 12129388 core:Vehicles 2023-07-31 12129388 core:FurnitureFittings 2023-07-31 12129388 core:OfficeEquipment 2023-07-31 12129388 core:Vehicles 2024-10-31 12129388 core:FurnitureFittings 2024-10-31 12129388 core:OfficeEquipment 2024-10-31 12129388 core:CostValuation 2023-07-31 12129388 core:CostValuation 2024-10-31 12129388 2023-08-01 2024-10-31 12129388 bus:FilletedAccounts 2023-08-01 2024-10-31 12129388 bus:SmallEntities 2023-08-01 2024-10-31 12129388 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-10-31 12129388 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-10-31 12129388 bus:Director1 2023-08-01 2024-10-31 12129388 bus:Director2 2023-08-01 2024-10-31 12129388 core:Vehicles 2023-08-01 2024-10-31 12129388 core:FurnitureFittings 2023-08-01 2024-10-31 12129388 core:OfficeEquipment core:TopRangeValue 2023-08-01 2024-10-31 12129388 2022-08-01 2023-07-31 12129388 core:OfficeEquipment 2023-08-01 2024-10-31 iso4217:GBP xbrli:pure

Company No: 12129388 (England and Wales)

PRIORY PERFORMANCE LIMITED

Unaudited Financial Statements
For the financial period from 01 August 2023 to 31 October 2024
Pages for filing with the registrar

PRIORY PERFORMANCE LIMITED

Unaudited Financial Statements

For the financial period from 01 August 2023 to 31 October 2024

Contents

PRIORY PERFORMANCE LIMITED

BALANCE SHEET

As at 31 October 2024
PRIORY PERFORMANCE LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 31.10.2024 31.07.2023
£ £
Fixed assets
Tangible assets 3 2,846 0
Investments 4 4,915 4,915
7,761 4,915
Current assets
Debtors 5 324 0
Cash at bank and in hand 34,867 71,283
35,191 71,283
Creditors: amounts falling due within one year 6 ( 21,609) ( 39,480)
Net current assets 13,582 31,803
Total assets less current liabilities 21,343 36,718
Net assets 21,343 36,718
Capital and reserves
Called-up share capital 100 100
Profit and loss account 21,243 36,618
Total shareholders' funds 21,343 36,718

For the financial period ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Priory Performance Limited (registered number: 12129388) were approved and authorised for issue by the Board of Directors on 12 February 2025. They were signed on its behalf by:

Mr D J Weston
Director
PRIORY PERFORMANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 31 October 2024
PRIORY PERFORMANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Priory Performance Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

Reporting period length is extended to 15 months ending October 2024.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
01.08.2023 to
31.10.2024
Year ended
31.07.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 3

3. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 August 2023 0 0 920 920
Additions 625 2,828 0 3,453
At 31 October 2024 625 2,828 920 4,373
Accumulated depreciation
At 01 August 2023 0 0 920 920
Charge for the financial period 195 412 0 607
At 31 October 2024 195 412 920 1,527
Net book value
At 31 October 2024 430 2,416 0 2,846
At 31 July 2023 0 0 0 0

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 August 2023 4,915 4,915
At 31 October 2024 4,915 4,915
Carrying value at 31 October 2024 4,915 4,915
Carrying value at 31 July 2023 4,915 4,915

5. Debtors

31.10.2024 31.07.2023
£ £
VAT recoverable 324 0

6. Creditors: amounts falling due within one year

31.10.2024 31.07.2023
£ £
Amounts owed to directors 2,526 14,672
Accruals 1,293 1,128
Corporation tax 12,790 18,949
Other taxation and social security 0 731
Other creditors 5,000 4,000
21,609 39,480

7. Financial commitments

Commitments

31.10.2024 31.07.2023
£ £
Total future minimum lease payments under non-cancellable operating lease 13,883 0