Prince Investments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03046616 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2024 to 30 September 2024

for

Prince Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B R S Prince

J R Prince

REGISTERED OFFICE:

Spitalfields House

1st Floor

Stirling Way

Borehamwood

Hertfordshire

WD6 2FX

REGISTERED NUMBER:

03046616 (England and Wales)

ACCOUNTANTS:

TC Group

First Floor

Spitalfields House

Stirling Way

Borehamwood

Hertfordshire

WD6 2FX

FIXED ASSETS

Tangible assets

4

296,670

312,077

Investments

5

6,992,889

6,935,645

7,289,559

7,247,722

CURRENT ASSETS

Debtors

6

5,059

54,267

Cash at bank

6,781,036

7,030,924

6,786,095

7,085,191

CREDITORS

Amounts falling due within one year

7

(217,985

)

(362,495

)

NET CURRENT ASSETS

6,568,110

6,722,696

TOTAL ASSETS LESS CURRENT
LIABILITIES

13,857,669

13,970,418

CAPITAL AND RESERVES

Called up share capital

8

1,000

Retained earnings

13,856,669

13,969,418

SHAREHOLDERS' FUNDS

13,857,669

13,970,418

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

B R S Prince - Director

1.	STATUTORY INFORMATION

Prince Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 33% on reducing balance

Computer equipment - 33% on reducing balance

Motor vehicle - 25% on cost

Long Leasehold - over 125 years

Financial instruments

The company has elected to apply the provisions of Schedule 1A of FRS102 to all its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

Taxation for the period 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2024

263,071

32,418

104,980

4,636

405,105

Additions

-

718

At 30 September 2024

263,071

32,418

104,980

5,354

405,823

DEPRECIATION

At 1 April 2024

6,314

22,662

61,238

2,814

93,028

Charge for period

1,052

772

13,123

1,178

16,125

At 30 September 2024

7,366

23,434

74,361

3,992

109,153

NET BOOK VALUE

At 30 September 2024

255,705

8,984

30,619

1,362

296,670

At 31 March 2024

256,757

9,756

43,742

1,822

312,077

5.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 1 April 2024

6,935,645

Additions

57,244

At 30 September 2024

6,992,889

NET BOOK VALUE

At 30 September 2024

6,992,889

At 31 March 2024

6,935,645

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

31.3.24

£

Other debtors

5,059

54,267

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

31.3.24

£

Trade creditors

516

21

Amounts owed to group undertakings

49,436

Taxation and social security

149,580

100,058

Other creditors

18,453

212,980

217,985

362,495

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

31.3.24

value:

£

1,000

Ordinary

£1

1,000

9.	RELATED PARTY DISCLOSURES

Included within creditors due within one year is an amount of £49,436 (2024: £49,436) due to a related company with common director.