03332046falseConstruction2023-10-012024-09-30http://www.companieshouse.gov.uk/2023-09-30http://www.companieshouse.gov.uk/cd:CompanySecretary12023-10-012024-09-30http://www.companieshouse.gov.uk/pt:PlantMachinery2023-09-30http://www.companieshouse.gov.uk/cd:Director12023-10-012024-09-30http://www.companieshouse.gov.uk/pt:PlantMachinery2024-09-30http://www.companieshouse.gov.uk/pt:ShareCapital2024-09-30http://www.companieshouse.gov.uk/cd:Director22023-10-012024-09-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-10-012024-09-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-10-012024-09-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-10-012024-09-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-09-30http://www.companieshouse.gov.uk/2023-10-012024-09-30http://www.companieshouse.gov.uk/cd:FRS1022023-10-012024-09-30http://www.companieshouse.gov.uk/2024-09-30http://www.companieshouse.gov.uk/cd:FullAccounts2023-10-012024-09-30http://www.companieshouse.gov.uk/pt:LandBuildings2023-09-30http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-10-012024-09-30http://www.companieshouse.gov.uk/pt:LandBuildings2024-09-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 03332046

Principality Ventures Limited

ACCOUNTS
FOR THE YEAR ENDED 30/09/2024

Prepared By:
M P Bailey Accountancy Services
Sole Trader
72
Dunstall Road
Halesowen
West Midlands
B63 1BE

Principality Ventures Limited

ACCOUNTS
FOR THE YEAR ENDED 30/09/2024
DIRECTORS
Michael Robert HAYWOOD
Anthony Grahame Scutt
SECRETARY
Michael Bailey
REGISTERED OFFICE
72 Dunstall Road
Halesowen
West Midlands
B63 1BE
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 03332046
ACCOUNTANTS
M P Bailey Accountancy Services
Sole Trader
72
Dunstall Road
Halesowen
West Midlands
B63 1BE

Principality Ventures Limited

ACCOUNTS
FOR THEYEARENDED30/09/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Principality Ventures Limited

BALANCE SHEET AT 30/09/2024
2024
Notes£
FIXED ASSETS
Tangible assets3308,526
CURRENT ASSETS
Stock2,714,045
Debtors534,033
Cash at bank and in hand3,820
2,751,898
CREDITORS: Amounts falling due within one year63,311,100
NET CURRENT LIABILITIES(559,202)
TOTAL ASSETS LESS CURRENT LIABILITIES(250,676)
NET LIABILITIES(250,676)
CAPITAL AND RESERVES
Called up share capital81,000
Profit and loss account(251,676)
SHAREHOLDERS' FUNDS(250,676)
For the year ending 30/09/2024 the company was entitled to exemption 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 10/10/2024 and signed on their behalf by
.............................
Michael Robert HAYWOOD
Director

Principality Ventures Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/09/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinery %
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
2. EMPLOYEES
2024
No.No.
Average number of employees-

Principality Ventures Limited

3. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachineryTotal
£££
Cost
At 01/10/2023462,1761,510463,686
Disposals(154,059)-(154,059)
At 30/09/2024308,1171,510309,627
Depreciation
At 01/10/2023-602602
Transfers-499499
At 30/09/2024-1,1011,101
Net Book Amounts
At 30/09/2024308,117409308,526
At 30/09/2023462,176908463,084
4. STOCK 2024
£
Stock comprises:
Work in progress2,714,045
2,714,045
5. DEBTORS 2024
£
Amounts falling due within one year
Trade debtors7,644
VAT6,139
Prepayments20,250
34,033
Amounts falling due over more than one year
34,033

Principality Ventures Limited

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
PAYE control3,222
Directors current account340,724
Directors current account483,740
Bank Loan1,857,234
Loans10,027
Loans43,666
Trade creditors565,566
Other creditors5,171
Accruals1,750
3,311,100
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
£
8. SHARE CAPITAL 2024
£
Allotted, issued and fully paid:
1000 Ordinary shares of £1 each1000
1,000