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Registration number: 12380496

Prisma Technologies Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Prisma Technologies Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Prisma Technologies Limited

(Registration number: 12380496)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

730

2,957

Current assets

 

Debtors

5

125,894

118,772

Cash at bank and in hand

 

4,591

85,849

 

130,485

204,621

Creditors: Amounts falling due within one year

6

(3,872)

(7,134)

Net current assets

 

126,613

197,487

Net assets

 

127,343

200,444

Capital and reserves

 

Called up share capital

1

1

Retained earnings

127,342

200,443

Shareholders' funds

 

127,343

200,444

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 July 2025
 

L E Gorganchian
Director

   
     
 

Prisma Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Freshford House
Redcliffe Way
Bristol
BS1 6NL

These financial statements were authorised for issue by the director on 14 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The directors are commited to ensure the company is able to continue trading for the foreseeable future. Therefore, the directors believe it is appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- the costs incurred and to be incurred in respect of the transaction can be reliably measured; and
- specific criteria have been met for each of the company's activities.

Finance income and costs policy

Interest income and expenses are recognised using the effective interest rate method.

 

Prisma Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Debtors

Trade debtors are amounts due from customers for 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.

 

Prisma Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2024 - 2).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2024

7,708

7,708

At 31 March 2025

7,708

7,708

Depreciation

At 1 April 2024

4,751

4,751

Charge for the year

2,227

2,227

At 31 March 2025

6,978

6,978

Carrying amount

At 31 March 2025

730

730

At 31 March 2024

2,957

2,957

 

Prisma Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Debtors

Note

2025
£

2024
£

Trade debtors

 

69,140

75,884

Amounts owed by related parties

7

42,272

42,888

Prepayments and accrued income

 

3,232

-

Deferred tax assets

11,250

-

 

125,894

118,772


 

6

Creditors

Due within one year

Note

2025
£

2024
£

 

Trade creditors

 

-

28

Amounts due to related parties

7

-

4,480

Accruals

 

3,872

2,626

 

3,872

7,134

 

Prisma Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Related party transactions

Expenditure with and payables to related parties

2024

Other related parties
£

Rendering of services

4,000

Loans to related parties

2025

Entities with joint control or significant influence
£

Total
£

At start of period

42,888

42,888

Interest transactions

1,160

1,160

Foreign exchange adjustment

(1,776)

(1,776)

At end of period

42,272

42,272

2024

Entities with joint control or significant influence
£

Total
£

At start of period

41,931

41,931

Interest transactions

957

957

At end of period

42,888

42,888

Terms of loans to related parties

During the year a loan was maintained to a company under common control. This loan is repayable by March 2026, with interest charged on the balance at 3%.

 

 

Prisma Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Loans from related parties

2025

Key management
£

Total
£

At start of period

4,480

4,480

Repaid

(4,480)

(4,480)

At end of period

-

-

2024

Parent
£

Key management
£

Total
£

At start of period

-

4,480

4,480

Advanced

183,044

-

183,044

Repaid

(183,044)

-

(183,044)

At end of period

-

4,480

4,480

Terms of loans from related parties

During the prior year, a loan was advanced from the parent company and then repaid. This loan was repayable on demand, with no interest charged.
 
During the year, loans were cleared with key management. These loans were repayable on demand, with no interest charged.

 

8

Parent and ultimate parent undertaking

The company's immediate parent is Prisma Holding Inc, incorporated in the United States of America.

  These financial statements are available upon request from Corporation Trust Centre, 1209 Orange Street, City of Wilmington, County of New Castle, Delaware 19801, United States.