Registered number
13289146
Prospect Securities PLC
Report and Financial Statements
31 March 2025
Prospect Securities PLC
Report and accounts
Contents
Page
Company information 1
Strategic report 2
Directors' report 3
Independent auditor's report 5
Statement of comprehensive income 9
Statement of financial position 10
Statement of changes in equity 11
Statement of cash flows 12
Notes to the financial statements 13
Prospect Securities PLC
Company Information
Directors
Mark Jackson
Andrew Richardson
Auditors
Edwards Veeder (UK) Limited
4 Broadgate
Broadway Business Park
Chadderton, Oldham
OL9 9XA
Registered office
c/o Jacksons Chartered Accountants
First Floor, Albion House
32 Albion Street
Hull
HU1 3TE
Registered number
13289146
Prospect Securities PLC
Strategic Report
for the year ended 31 March 2025
Review of the business
The company now owns five flats, all of which are now let.
The fifth flat was acquired at auction during the year, and after refurbishment, was let, just after the year end.
All the listed securites held were sold in the year, at a small loss.
The company has made a small profit for the year.
Future developments
Further acquisitions of properties are being considered at present, especially at auction.
No additional listed investments have been made post the year end.
Principal risks and uncertainties
The principal risks affecting the company is the property market, interest rates and the availability of finance.
This report was approved by the board on 11 August 2025 and signed on its behalf.
Mark Jackson
Director
Prospect Securities PLC
Registered number: 13289146
Directors' Report
for the year ended 31 March 2025
The directors present their report and financial statements for the year ended 31 March 2025.
Principal activities
The company's principal activities are to develop and invest in the UK property market, and the listed security market.
Dividends
The directors do not recommend a dividend.
Directors
The following persons served as directors during the year:
Mark Jackson
Graham Stanley Jones - passed away 16 May 2024
Andrew Richardson - appointed 16 May 2024
Directors' responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board on 11 August 2025 and signed on its behalf.
Mark Jackson
Director
Prospect Securities PLC
Independent auditor's report
to the members of Prospect Securities PLC
for the year ended 31 March 2025
Opinion
We have audited the company financial statements of Prospect Securities Plc for the year ended 31 March 2025 which comprise Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the company financial statements:
give a true and fair view of the state of the company’s affairs as at 31 March 2025 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the company financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the company financial statements in the UK, including the FRC’s Ethical Standard as applied to listed public interest entities, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Our approach to the audit
Our scoping of the company audit was tailored to enable us to give an opinion on the consolidated financial statements as a whole. The compny was subject to a full scope audit.
Our application of materiality
In planning and performing our audit we applied the concept of materiality. An item is considered material if it could reasonably be expected to change the economic decisions of a user of the financial statements. We used the concept of materiality to both focus our testing and to evaluate the impact of misstatements identified.
Based on our professional judgement, we determined overall materiality for the financial statements as a whole to be approximately £965, based on 2% of net assets.
We used different level of materiality (‘performance materiality’) to determine the extent of our testing for the audit of the financial statements. Performance materiality is set based on the audit materiality as adjusted for the judgements made as to the entity risk and our evaluation of the specific risk of each audit area having regard to the internal control environment. This is set at approximately £724 for the company.
Where considered appropriate performance materiality may be reduced to a lower, such as, for related party transactions and Directors’ remuneration.
We agreed to report to it all identified errors in excess of approximately £48. Errors below that threshold would also be reported to it if, in our opinion as auditor, disclosure was required on qualitative grounds.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the company financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, the part of the directors’ remuneration report to be audited has been properly prepared in accordance with the Companies Act 2006.
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the company financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept by the company, or returns adequate for our audit have not been received from branches not visited by us; or
the company financial statements and the part of the directors’ remuneration report to be audited are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the company financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of company financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the company financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the company financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these company financial statements.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the FRS 102 and AQUIS Rules and regulations. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the company for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR), taxation legislation, and employment legislation.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors’ and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within judgement and estimates, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Council about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Lee Lederberg
(Senior Statutory Auditor)
for and on behalf of
Edwards Veeder (UK) Limited
4 Broadgate
Broadway Business Park
Chadderton, Oldham
OL9 9XA
Statutory Auditor
11 August 2025
Prospect Securities PLC
Statement of Comprehensive Income
for the year ended 31 March 2025
Notes 2025 2024
£ £
Turnover 4 26,741 25,026
Cost of sales (19,090) (10,593)
Gross profit 7,651 14,433
Administrative expenses (5,161) (5,220)
Operating profit 5 2,490 9,213
Loss on the disposal of investments (2,388) -
Loss on revaluation of investments - (5,681)
Interest payable 7 (5) -
Profit on ordinary activities before taxation 97 3,532
Tax on profit on ordinary activities 8 (474) (504)
(Loss)/profit for the financial year (377) 3,028
Profit/(loss) per share (0.01)p 0.06p
All the activities of the company are from continuing operations.
Prospect Securities PLC Company number: 13289146
Statement of Financial Position
as at 31 March 2025
Notes 2025 2024
£ £
Current assets
Stocks 9 261,497 213,370
Debtors 10 619 227
Investments held as current assets 11 - 15,900
Cash at bank and in hand 778 800
262,894 230,297
Creditors: amounts falling due within one year 12 (152,221) (128,647)
Net current assets 110,673 101,650
Total assets less current liabilities 110,673 101,650
Creditors: amounts falling due after more than one year 13 (62,410) (53,010)
Net assets 48,263 48,640
Capital and reserves
Called up share capital 14 52,500 52,500
Profit and loss account 15 (4,237) (3,860)
Total equity 48,263 48,640
Mark Jackson
Director
Approved by the board on 11 August 2025
Prospect Securities PLC
Statement of Changes in Equity
for the year ended 31 March 2025
Share Profit Total
capital and loss
account
£ £ £
At 1 April 2023 52,500 (6,888) 45,612
Profit for the financial year - 3,028 3,028
At 31 March 2024 52,500 (3,860) 48,640
At 1 April 2024 52,500 (3,860) 48,640
Loss for the financial year - (377) (377)
At 31 March 2025 52,500 (4,237) 48,263
Prospect Securities PLC
Statement of Cash Flows
for the year ended 31 March 2025
Notes 2025 2024
£ £
Operating activities
(Loss)/profit for the financial year (377) 3,028
Adjustments for:
Loss on the disposal of investments 2,388 -
Loss on revaluation of investments - 5,681
Interest payable 5 -
Tax on profit on ordinary activities 474 504
Increase in stocks (48,127) (105,730)
(Increase)/decrease in debtors (392) 977
Increase/(decrease) in creditors 33,001 (3,865)
(13,028) (99,405)
Interest paid (5) -
Corporation tax paid (501) (781)
Cash used in operating activities (13,534) (100,186)
Investing activities
Payments to acquire investments - (16,581)
Proceeds from sale of investments 13,512 -
Cash generated by/(used in) investing activities 13,512 (16,581)
Financing activities
New loans - 116,963
Cash generated by financing activities - 116,963
Net cash (used)/generated
Cash used in operating activities (13,534) (100,186)
Cash generated by/(used in) investing activities 13,512 (16,581)
Cash generated by financing activities - 116,963
Net cash (used)/generated (22) 196
Cash and cash equivalents at 1 April 800 604
Cash and cash equivalents at 31 March 778 800
Cash and cash equivalents comprise:
Cash at bank 778 800
Prospect Securities PLC
Notes to the Accounts
for the year ended 31 March 2025
1 General information
The company is a public company limited by shares, registered in England and Wales. The address of the registered office is c/o Jacksons Chartered Accountants, First Floor, Albion House, 32 Albion Street, Hull, HU1 3TE.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK'.
3 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4 Analysis of turnover 2025 2024
£ £
Rental income 26,741 18,026
Management services - 7,000
26,741 25,026
By geographical market:
UK 26,741 25,026
5 Operating profit 2025 2024
£ £
This is stated after charging:
Auditors' remuneration for audit services 4,620 4,410
6 Staff costs 2025 2024
£ £
Wages and salaries - -
Social security costs - -
Other pension costs - -
- -
Average number of employees during the year Number Number
Administration 2 2
2 2
7 Interest payable 2025 2024
£ £
Late payment of VAT 5 -
8 Taxation 2025 2024
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 472 499
Adjustments in respect of previous periods 2 5
474 504
Tax on profit on ordinary activities 474 504
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2025 2024
£ £
Profit on ordinary activities before tax 97 3,532
Standard rate of corporation tax in the UK 19% 19%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 18 671
Effects of:
Losses carried forward - (1,251)
Items not taxable 454 1,079
Adjustments to tax charge in respect of previous periods 2 5
Current tax charge for period 474 504
Factors that may affect future tax charges
9 Stocks 2025 2024
£ £
Property 261,497 213,370
10 Debtors 2025 2024
£ £
Other debtors 619 227
11 Investments held as current assets 2025 2024
£ £
Fair value
Listed investments - 15,900
12 Creditors: amounts falling due within one year 2025 2024
£ £
Corporation tax 472 499
Other taxes and social security costs - 800
Other creditors 145,513 122,938
Accruals and deferred income 6,236 4,410
152,221 128,647
13 Creditors: amounts falling due after one year 2025 2024
£ £
Other creditors 62,410 53,010
14 Share capital Nominal 2025 2025 2024
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 5,250,000 52,500 52,500
15 Profit and loss account 2025 2024
£ £
At 1 April (3,860) (6,888)
(Loss)/profit for the financial year (377) 3,028
At 31 March (4,237) (3,860)
16 Related party transactions
At the year end £62,410 (2024 - £53,010) is due to Ventura Finance Limited, a company controlled by Mark Jackson. £9,400 was advanced during the year. It is interest free and repayable after twelve months.
At the year end £108,013 (2024 - £116,913) is due to Mark Jackson. £8,900 was repaid during the year. It is interest free and repayable on demand.
At the year end £10,500 (2024 - £6,000) was due to Small Company Reporting Limited, a company controlled by Mark Jackson. The £4,500 was advanced during the year. It is interest free and repayable on demand.
At the year end, £27,000 (2024 - £Nil) was due to Cavendish Print Limited, a company controlled by Mark Jackson. The £27,000 was advanced during the year. It is interest free and repayable on demand.
17 Controlling party
The company is controlled by Mark Jackson.
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