| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| PRIME INVESTMENT WORCESTER LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| PRIME INVESTMENT WORCESTER LIMITED |
| PRIME INVESTMENT WORCESTER LIMITED (REGISTERED NUMBER: 10377259) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| PRIME INVESTMENT WORCESTER LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| PRIME INVESTMENT WORCESTER LIMITED (REGISTERED NUMBER: 10377259) |
| STATEMENT OF FINANCIAL POSITION |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 3 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Retained earnings | 6 |
| SHAREHOLDER FUNDS |
| The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
| PRIME INVESTMENT WORCESTER LIMITED (REGISTERED NUMBER: 10377259) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2024 |
| 1. | ACCOUNTING POLICIES |
| General information and basis of accounting |
| Prime Investment Worcester Limited is a private company limited by shares and is incorporated in England and Wales. The address of the registered office is 5 The Triangle, Wildwood Drive, Worcester, Worcestershire, WR5 2QX. The nature of the company's operations and its principal activity was that of a property investment company for the Prime group (headed by Prime (GB) Holdings Limited). |
| The company's financial statements have been prepared in compliance with FRS 102 "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland", Section 1A and the Companies Act 2006. |
| The financial statements have been prepared under the historical cost convention and on a going concern basis as modified by the revaluation of land and buildings held as investment property. |
| The financial statements comprise the audited financial statements of the company up to 31 December each year, and are stated in pounds sterling, the company's functional and presentational currency. |
| The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. |
| Going concern |
| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence. For this reason they continue to adopt the going concern basis in preparing the financial statements. The assessment of going concern for the group as a whole is summarised in the Annual Report and financial statements of Prime (GB) Holdings Limited. |
| Exemptions |
| In accordance with the small companies regime no cashflow statement is required to be presented, as the company qualifies as a small entity as defined in the Companies Act 2006. |
| Investment property |
| Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the income statement. Unrealised gains (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve. |
| Critical accounting judgements and estimates |
| In preparing the financial statements the directors are required to make a number of accounting judgements and make estimates and assumptions concerning the future. The following judgments and estimates are deemed significant in the context of these financial statements: |
| i) Investment properties are required to be measured at fair value. The directors consider there has been no change in the fair value of investment property from the date of purchase therefore no revaluation adjustment has been reflected in these financial statements. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| PRIME INVESTMENT WORCESTER LIMITED (REGISTERED NUMBER: 10377259) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2024 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| The fair value of the company's investment property is reviewed annually by the directors. The directors consider that there was no change to the value of the property acquired in the current year as at the year end. |
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Amounts owed to group undertakings |
| Amounts owed to group undertakings were unsecured, repayable within one year and attracted no interest. |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
| value: | £ | £ |
| Ordinary | 1 | 100 | 100 |
| 6. | RETAINED EARNINGS |
| Retained |
| earnings |
| £ |
| At 1 January 2024 |
| Profit for the year |
| At 31 December 2024 |
| 7. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of the exemption under section 33 of FRS 102, not to disclose related party transactions with wholly owned subsidiaries within the group. |
| PRIME INVESTMENT WORCESTER LIMITED (REGISTERED NUMBER: 10377259) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2024 |
| 8. | ULTIMATE CONTROLLING PARTY |
| The immediate parent company is Prime (UK) Investments Limited. The largest group of undertakings for which group financial statements are drawn up is that headed by Prime (GB) Holdings Limited, the ultimate parent company. The smallest group for which group financial statements are drawn up is that headed by Prime Plc, an intermediate parent company. Group financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ. |
| There is no ultimate controlling party. |