PROSPERITY PROPERTIES LIMITED


Directors	JACK, Ian Alexander
	JACK, Shona Marie


Registered Address	3 Arcot Avenue
	Monkseaton
	Whitley Bay
	NE25 9DX


Registered Number	07631822 (England and Wales)

Balance Sheet as at
31 May 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		27,752		35,472
Investment property	4		624,932		624,932
			652,684		660,404
Current assets
Debtors	5	19,362		21,499
Cash at bank and on hand		267,223		302,781
		286,585		324,280
Creditors amounts falling due within one year	6	(12,314)		(19,206)
Net current assets (liabilities)			274,271		305,074
Total assets less current liabilities			926,955		965,478
Creditors amounts falling due after one year	7		(12,099)		(20,633)
Net assets			914,856		944,845
Capital and reserves
Called up share capital			2,020		2,020
Share premium			1,054,861		1,054,861
Profit and loss account			(142,025)		(112,036)
Shareholders' funds			914,856		944,845

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 10 June 2025, and are signed on its behalf by:

JACK, Ian Alexander
Director

JACK, Shona Marie
Director

Registered Company No. 07631822

PROSPERITY PROPERTIES LIMITED

Notes to the Financial Statements
for the year ended 31 May 2025

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Plant and machinery	4
	Vehicles	5

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Total
	£	£	£
Cost or valuation
At 01 June 24	4,393	36,990	41,383
At 31 May 25	4,393	36,990	41,383
Depreciation and impairment
At 01 June 24	3,445	2,466	5,911
Charge for year	322	7,398	7,720
At 31 May 25	3,767	9,864	13,631
Net book value
At 31 May 25	626	27,126	27,752
At 31 May 24	948	34,524	35,472

4.	Investment property


		£
	Fair value at 01 June 24	624,932
	At 31 May 25	624,932

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Amounts owed by associates and joint ventures / participating interests	1	-
Other debtors	15,865	21,120
Prepayments and accrued income	3,496	379
Total	19,362	21,499

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Bank borrowings and overdrafts	6,960	7,426
Amounts owed to related parties	-	8,915
Taxation and social security	1,417	-
Dividends payable	1,000	-
Other creditors	1,701	1,700
Accrued liabilities and deferred income	1,236	1,165
Total	12,314	19,206

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	623	7,157
Other creditors	11,476	13,476
Total	12,099	20,633