4 3 June 2025 false false false false false false false false false false false true false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 12603366 2024-01-01 2024-12-31 12603366 2024-12-31 12603366 2023-12-31 12603366 2023-01-01 2023-12-31 12603366 2023-12-31 12603366 2022-12-31 12603366 core:FurnitureFittings 2024-01-01 2024-12-31 12603366 bus:Director1 2024-01-01 2024-12-31 12603366 bus:Director2 2024-01-01 2024-12-31 12603366 core:FurnitureFittings 2023-12-31 12603366 core:FurnitureFittings 2024-12-31 12603366 core:WithinOneYear 2024-12-31 12603366 core:WithinOneYear 2023-12-31 12603366 core:ShareCapital 2024-12-31 12603366 core:ShareCapital 2023-12-31 12603366 core:RetainedEarningsAccumulatedLosses 2024-12-31 12603366 core:RetainedEarningsAccumulatedLosses 2023-12-31 12603366 core:FurnitureFittings 2023-12-31 12603366 bus:SmallEntities 2024-01-01 2024-12-31 12603366 bus:Audited 2024-01-01 2024-12-31 12603366 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12603366 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12603366 bus:FullAccounts 2024-01-01 2024-12-31 12603366 core:OfficeEquipment 2024-01-01 2024-12-31 12603366 core:OfficeEquipment 2024-12-31 12603366 core:OfficeEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 12603366
Prem Apart Nottingham Ltd
Filleted Financial Statements
31 December 2024
Prem Apart Nottingham Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
29,516
41,528
Current assets
Debtors
6
140,337
148,695
Cash at bank and in hand
254,245
88,184
---------
---------
394,582
236,879
Creditors: amounts falling due within one year
7
389,555
261,468
---------
---------
Net current assets/(liabilities)
5,027
( 24,589)
--------
--------
Total assets less current liabilities
34,543
16,939
--------
--------
Net assets
34,543
16,939
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
34,443
16,839
--------
--------
Shareholders funds
34,543
16,939
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 3 June 2025 , and are signed on behalf of the board by:
Mr J Murphy
Mr S Loftus
Director
Director
Company registration number: 12603366
Prem Apart Nottingham Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The principal place of business is Thornton House, Thornton Street, Newcastle upon Tyne, NE1 4AT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements are prepared on the going concern basis, under the historical cost convention, and comply with the financial reporting standards of the Financial Reporting Council and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
Debtors
Trade and other debtors including amounts owed by group companies are recognised initially at transaction price. A provision for impairment is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of receivables.
Cash and cash equivalents
Cash and equivalents include cash on hand and demand deposits. Bank overdrafts are shown within borrowings in current liabilities on the statement of financial position.
Creditors and accruals
Creditors and accruals are classified as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities. Trade payables are recognised initially at the transaction price and subsequently at amortised cost.
Share capital
Ordinary shares are classified as equity.
Judgements and key sources of estimation uncertainty
The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant effect on amounts recognised in the financial statements are discussed below: Estimate of useful life for fixed assets: Fixed assets consist of fixtures, fittings and equipment. The annual depreciation charge depends primarily on the estimated lives of each type of asset and, in certain circumstances, estimates of fair values and residual values. The directors annually review the asset lives and adjust them as necessary to reflect current thinking on remaining lives in light of technological change, prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have significant impact on depreciation charges for the period. Detail of the useful lives is included in the accounting policies.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying a group fixed exchange rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
10% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Defined contribution plans
The company operates a defined contribution pension scheme for employees. Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. The assets of the scheme are held separately from those of the company.
Employee benefits
The company provides a range of benefits to employees, including paid holiday arrangements and annual bonus arrangements.
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. The company recognises a provision and an expense for bonuses where the company has a legal or constructive obligation as a result of past events and a reliable estimate can be made.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
48,315
782
49,097
--------
----
--------
Depreciation
At 1 January 2024
7,296
273
7,569
Charge for the year
11,576
436
12,012
--------
----
--------
At 31 December 2024
18,872
709
19,581
--------
----
--------
Carrying amount
At 31 December 2024
29,443
73
29,516
--------
----
--------
At 31 December 2023
41,019
509
41,528
--------
----
--------
6. Debtors
2024
2023
£
£
Trade debtors
32,142
28,302
Amounts owed by group undertakings and undertakings in which the company has a participating interest
74,533
82,582
Other debtors
33,662
37,811
---------
---------
140,337
148,695
---------
---------
Amounts owed by group companies are unsecured, interest free and repayable on demand.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
65,322
119,766
Amounts owed to group undertakings and undertakings in which the company has a participating interest
18,921
19,053
Social security and other taxes
21,837
23,052
Other creditors
283,475
99,597
---------
---------
389,555
261,468
---------
---------
Amounts owed to group companies are unsecured, interest free and repayable on demand.
8. Charges on assets
On 21 September 2020 the company created a fixed and floating charge over all the property or undertaking of the company in favour of HSBC UK Bank Plc in relation to a loan and charge card facility advanced to Windshear Ltd, the parent of the company.
9. Summary audit opinion
The auditor's report dated 3 June 2025 was unqualified .
The senior statutory auditor was Ms Kate Crossan , for and on behalf of Lenfestey & Co .
10. Related party transactions
The company has taken advantage of the exemption under FRS 102 in relation to disclosure of related party transactions with subsidiary companies within the group.
11. Ethical standards
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
12. Controlling party
The company is a wholly owned subsidiary of Windshear Ltd . The company's ultimate parent undertaking is FRO III Cedar Holdings LP , a Cayman Islands Limited Partnership with a registered office at Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. The parent of the smallest group in which the results are consolidated is Arago Investments Ltd , a company registered in Ireland with a registered office address at 12 Lower Hatch Street, Dublin 2, D02R682, Ireland .