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REGISTERED NUMBER: 06927838 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

PROSPERITY LIVING LIMITED

PROSPERITY LIVING LIMITED (REGISTERED NUMBER: 06927838)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROSPERITY LIVING LIMITED

Company Information
for the Year Ended 31 December 2024







DIRECTOR: J E Billingham



REGISTERED OFFICE: c/o BTMR Limited
Century Buildings
14 St. Mary's Parsonage
Manchester
M3 2DF



REGISTERED NUMBER: 06927838 (England and Wales)



ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: Barclays Bank Plc
Leicester
LE87 2BB

PROSPERITY LIVING LIMITED (REGISTERED NUMBER: 06927838)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,568,317 1,230,000

CURRENT ASSETS
Debtors 5 28,899 52,969
Cash at bank 23,566 15,746
52,465 68,715
CREDITORS
Amounts falling due within one year 6 2,659,129 28,432
NET CURRENT (LIABILITIES)/ASSETS (2,606,664 ) 40,283
TOTAL ASSETS LESS CURRENT
LIABILITIES

961,653

1,270,283

CREDITORS
Amounts falling due after more than one
year

7

-

310,000
NET ASSETS 961,653 960,283

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings - not distributable 655,355 655,355
Retained earnings 306,296 304,926
SHAREHOLDERS' FUNDS 961,653 960,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 August 2025 and were signed by:




J E Billingham - Director


PROSPERITY LIVING LIMITED (REGISTERED NUMBER: 06927838)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Prosperity Living Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Tangible fixed assets include investment properties professionally valued on an existing use open market value basis.

Investment properties are included in the balance sheet at their open market value.

Although this accounting policy is in accordance with FRS 102, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 1,230,000
Additions 2,338,317
At 31 December 2024 3,568,317
NET BOOK VALUE
At 31 December 2024 3,568,317
At 31 December 2023 1,230,000

PROSPERITY LIVING LIMITED (REGISTERED NUMBER: 06927838)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. INVESTMENT PROPERTY - continued

The director has valued the investment properties at open market value. No depreciation is provided in respect of these properties.

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2020 254,865
Valuation in 2022 400,489
Cost 2,912,963
3,568,317

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed by related party companies 25,607 50,580
Other debtors 3,191 2,100
Prepayments and accrued income 101 289
28,899 52,969

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 1,659,000 20,001
Trade creditors - 1,326
Amounts owed to related party companies 372,447 2,442
Directors' current accounts 622,942 -
Accrued expenses 4,740 4,663
2,659,129 28,432

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans - 1-2 years - 20,000
Bank loans - 2-5 years - 60,000
Bank loans more 5 yr by instal - 230,000
- 310,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 230,000

PROSPERITY LIVING LIMITED (REGISTERED NUMBER: 06927838)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 1,659,000 330,000

The loan is secured by a fixed and floating charge over the assets of the company.

Additionally, bank debt is secured by way of a debenture in the bank's standard form. The company has also granted a cross guarantee in favour of monies owed to the bank by Churchgate Commercial Holdings Limited, Churchgate Investments UK Limited, Prosperity Wealth Secured Loan Note Limited and Prosperity Wealth Group Limited, companies that are under common control and ownership

9. ULTIMATE CONTROLLING PARTY

The controlling party is J E Billingham.