Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Mr M J Aberdeen 25/01/2024 09/10/2015 Mr T A Nashnush 09/10/2015 Mr D Stead 09/10/2015 29 July 2025 The principal activity of the Company during the financial year was that of a public house. 09818431 2024-10-31 09818431 bus:Director1 2024-10-31 09818431 bus:Director2 2024-10-31 09818431 bus:Director3 2024-10-31 09818431 2023-10-31 09818431 core:CurrentFinancialInstruments 2024-10-31 09818431 core:CurrentFinancialInstruments 2023-10-31 09818431 core:Non-currentFinancialInstruments 2024-10-31 09818431 core:Non-currentFinancialInstruments 2023-10-31 09818431 core:ShareCapital 2024-10-31 09818431 core:ShareCapital 2023-10-31 09818431 core:RetainedEarningsAccumulatedLosses 2024-10-31 09818431 core:RetainedEarningsAccumulatedLosses 2023-10-31 09818431 core:LeaseholdImprovements 2023-10-31 09818431 core:FurnitureFittings 2023-10-31 09818431 core:LeaseholdImprovements 2024-10-31 09818431 core:FurnitureFittings 2024-10-31 09818431 bus:OrdinaryShareClass1 2024-10-31 09818431 2023-11-01 2024-10-31 09818431 bus:FilletedAccounts 2023-11-01 2024-10-31 09818431 bus:SmallEntities 2023-11-01 2024-10-31 09818431 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 09818431 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09818431 bus:Director1 2023-11-01 2024-10-31 09818431 bus:Director2 2023-11-01 2024-10-31 09818431 bus:Director3 2023-11-01 2024-10-31 09818431 core:FurnitureFittings 2023-11-01 2024-10-31 09818431 2022-11-01 2023-10-31 09818431 core:LeaseholdImprovements 2023-11-01 2024-10-31 09818431 core:Non-currentFinancialInstruments 2023-11-01 2024-10-31 09818431 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 09818431 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09818431 (England and Wales)

THE PRINCE N22 LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

THE PRINCE N22 LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

THE PRINCE N22 LIMITED

BALANCE SHEET

As at 31 October 2024
THE PRINCE N22 LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 228,432 247,165
228,432 247,165
Current assets
Stocks 20,736 23,347
Debtors 4 26,375 28,813
Cash at bank and in hand 12,187 29,630
59,298 81,790
Creditors: amounts falling due within one year 5 ( 427,770) ( 473,538)
Net current liabilities (368,472) (391,748)
Total assets less current liabilities (140,040) (144,583)
Creditors: amounts falling due after more than one year 6 ( 3,911) ( 8,866)
Provision for liabilities ( 8,345) 0
Net liabilities ( 152,296) ( 153,449)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 152,396 ) ( 153,549 )
Total shareholders' deficit ( 152,296) ( 153,449)

For the financial year 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 The Prince N22 Limited (registered number: 09818431) were approved and authorised for issue by the Board of Directors on 29 July 2025. They were signed on its behalf by:

Mr T A Nashnush
Director
THE PRINCE N22 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
THE PRINCE N22 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

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

General information and basis of accounting

The Prince N22 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 1 Finsbury Road, London, N22 8PA, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £152,296. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 straight-line/ reducing balance basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Fixtures and fittings 25 % reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 23 23

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Total
£ £ £
Cost
At 01 November 2023 425,615 124,728 550,343
Additions 0 25,793 25,793
At 31 October 2024 425,615 150,521 576,136
Accumulated depreciation
At 01 November 2023 218,852 84,326 303,178
Charge for the financial year 31,266 13,260 44,526
At 31 October 2024 250,118 97,586 347,704
Net book value
At 31 October 2024 175,497 52,935 228,432
At 31 October 2023 206,763 40,402 247,165

4. Debtors

2024 2023
£ £
Trade debtors 6,038 1,472
Prepayments 10,149 9,200
Other debtors 10,188 18,141
26,375 28,813

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 38,401 48,269
Corporation tax 7,628 4,071
Other taxation and social security 28,449 25,570
Other creditors 343,292 385,628
427,770 473,538

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 3,911 8,866

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Other financial commitments

2024 2023
£ £
The total amount of financial commitments not included in the balance sheet is 304,869 379,167