Company registration number 03133659 (England and Wales)
PRIORY FIELDS PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
PRIORY FIELDS PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PRIORY FIELDS PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,936
2,905
Investment property
4
1,595,000
1,895,000
1,596,936
1,897,905
Current assets
Debtors
5
132,075
2,023
Cash at bank and in hand
110,426
135,386
242,501
137,409
Creditors: amounts falling due within one year
6
(157,776)
(312,857)
Net current assets/(liabilities)
84,725
(175,448)
Total assets less current liabilities
1,681,661
1,722,457
Creditors: amounts falling due after more than one year
7
(1,033)
(5,163)
Provisions for liabilities
(179,653)
(212,693)
Net assets
1,500,975
1,504,601
Capital and reserves
Called up share capital
2
2
Fair value reserve
8
765,888
906,742
Profit and loss reserves
735,085
597,857
Total equity
1,500,975
1,504,601
PRIORY FIELDS PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 19 August 2025 and are signed on its behalf by:
..............................................
Mrs Jacqueline Sutton
Director
Company registration number 03133659 (England and Wales)
PRIORY FIELDS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information
Priory Fields Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Greenfield Farm, The Green, Ickwell, BIGGLESWADE, Beds, UK, SG18 9EE.
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.
1.2
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
Computers
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
PRIORY FIELDS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 March 2025
3,874
Depreciation and impairment
At 1 April 2024
969
Depreciation charged in the year
969
At 31 March 2025
1,938
Carrying amount
At 31 March 2025
1,936
At 31 March 2024
2,905
4
Investment property
2025
£
Fair value
At 1 April 2024
1,895,000
Disposals
(300,000)
At 31 March 2025
1,595,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31st March 2025, by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
132,075
2,023
PRIORY FIELDS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
4,131
4,131
Trade creditors
19
Corporation tax
11,434
57,710
Other creditors
142,192
251,016
157,776
312,857
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,033
5,163
8
Revaluation reserve
2025
2024
£
£
At the beginning of the year
906,742
1,444,872
Other movements
(140,854)
(538,130)
At the end of the year
765,888
906,742
9
Directors' transactions
Cedarwood Projects Ltd
A company owned and controlled by Mr N A Sutton and Mrs J A Sutton, director's of the company.
A Loan of £130,000 owed by Cedarwood Projects Ltd and was outstanding at the year end.
No interest was charged.