Company registration number 06176241 (England and Wales)
PRENTIS SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
PRENTIS SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PRENTIS SOLUTIONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
52,617
5,744
Current assets
Debtors
4
749,192
642,421
Cash at bank and in hand
5,317
41,816
754,509
684,237
Creditors: amounts falling due within one year
5
(741,636)
(689,266)
Net current assets/(liabilities)
12,873
(5,029)
Net assets
65,490
715
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
65,390
615
Total equity
65,490
715

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 July 2025 and are signed on its behalf by:
K Matcheswala
Director
Company registration number 06176241 (England and Wales)
PRENTIS SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Prentis Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Sobell Rhodes LLP, The Kinetic Centre, Theobald Street, Elstree, Borehamwood, Hertfordshire, United Kingdom, WD6 4PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

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.

 

There are no significant judgements exercised by the managements.

1.2
Going concern

The directors have a reasonable expectation the company will continue to have adequate resources to fund its working capital for the foreseeable future. The directors have carried out a detailed assessment of the viability of the company following to uncertainty overtrue the current economic condition due to higher inflation and higher interest rate rises.

 

As a result of their review, the directors have taken appropriate measures to enable them to have a reasonable expectation that the company will have sufficient working capital for a period of at least 12 months from the date these financial statements have been approved.

 

On the basis of the above, the directors are of the opinion that there is no material uncertainty relating to going concern and therefore it is appropriate to prepare these financial  statements on a going concern basis.

1.3
Turnover

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/value added tax, 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;

and specific criteria have been met for each of the company's activities.

1.4
Tangible fixed assets

Tangible assets are stated in the statement of financial position 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.

PRENTIS SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% Straight line
Fixtures and fittings
25% Straight line
Motor vehicles
25% reducing balance
1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

 

1.6
Taxation

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

 

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

1.7
Employee benefits

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

 

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

1.8

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.

PRENTIS SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
6
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
29,610
18,950
-
0
48,560
Additions
14,944
333
42,826
58,103
At 31 March 2024
44,554
19,283
42,826
106,663
Depreciation and impairment
At 1 April 2023
24,032
18,784
-
0
42,816
Depreciation charged in the year
4,012
80
7,138
11,230
At 31 March 2024
28,044
18,864
7,138
54,046
Carrying amount
At 31 March 2024
16,510
419
35,688
52,617
At 31 March 2023
5,578
166
-
0
5,744
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
448,517
507,154
Other debtors
176,573
124,465
Prepayments and accrued income
124,102
10,802
749,192
642,421
PRENTIS SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
63,702
6,458
Corporation tax
34,392
33,670
Other taxation and social security
80,985
35,669
Other creditors
555,260
604,867
Accruals and deferred income
7,297
8,602
741,636
689,266

Factoring company balance is secured by way of fixed and floating charge on the company's assets.

6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
18,100
37,030
8
Directors' transactions

At the balance sheet date the directors owed £145,348 (2023 - £99,670) to the company.

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
99,670
45,678
145,348
99,670
45,678
145,348
2024-03-312023-04-01falsefalsefalse29 July 2025CCH SoftwareCCH Accounts Production 2025.200No description of principal activityB OfeiK MatcheswalaS MatcheswalaK Matcheswala061762412023-04-012024-03-31061762412024-03-31061762412023-03-3106176241core:PlantMachinery2024-03-3106176241core:FurnitureFittings2024-03-3106176241core:MotorVehicles2024-03-3106176241core:PlantMachinery2023-03-3106176241core:FurnitureFittings2023-03-3106176241core:MotorVehicles2023-03-3106176241core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3106176241core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3106176241core:CurrentFinancialInstruments2024-03-3106176241core:CurrentFinancialInstruments2023-03-3106176241core:ShareCapital2024-03-3106176241core:ShareCapital2023-03-3106176241core:RetainedEarningsAccumulatedLosses2024-03-3106176241core:RetainedEarningsAccumulatedLosses2023-03-3106176241core:ShareCapitalOrdinaryShareClass12024-03-3106176241core:ShareCapitalOrdinaryShareClass12023-03-3106176241bus:CompanySecretaryDirector12023-04-012024-03-3106176241core:PlantMachinery2023-04-012024-03-3106176241core:FurnitureFittings2023-04-012024-03-3106176241core:MotorVehicles2023-04-012024-03-31061762412022-04-012023-03-3106176241core:PlantMachinery2023-03-3106176241core:FurnitureFittings2023-03-3106176241core:MotorVehicles2023-03-31061762412023-03-3106176241bus:OrdinaryShareClass12023-04-012024-03-3106176241bus:OrdinaryShareClass12024-03-3106176241bus:OrdinaryShareClass12023-03-3106176241bus:PrivateLimitedCompanyLtd2023-04-012024-03-3106176241bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106176241bus:FRS1022023-04-012024-03-3106176241bus:AuditExemptWithAccountantsReport2023-04-012024-03-3106176241bus:Director12023-04-012024-03-3106176241bus:Director22023-04-012024-03-3106176241bus:Director32023-04-012024-03-3106176241bus:CompanySecretary12023-04-012024-03-3106176241bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP