Prospects Assured UK Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Prospects Assured UK Ltd Registered number 08529807 is a limited by shares company incorporated in England & Wales. The Registered Office is 146 Northdown Road, Cliftonville, Margate, Kent, CT9 2QN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Commission income

Turnover represents commission and management fees earned from the provision of letting agency services, stated net of value added tax. Income is recognised in the period in which the related services are provided, when it is probable that the economic benefits will flow to the Company and the amount can be measured reliably.

Where the Company collects rents on behalf of landlords, only the commission and fees earned are included in turnover; rents collected on behalf of landlords are excluded from turnover as the Company acts solely as agent.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10 years in accordance with lease length
Plant & Machinery	2 - 5 years, straight line
Motor Vehicles	5 years, straight line
Computer Equipment	3 years, straight line

2.5. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.6. Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date.

However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Page 3

Page 4

Prospects Assured UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

2.8. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.9. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2024: 8)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 June 2024	30,160	8,557	23,020	15,639	77,376
Additions	-	-	-	772	772

As at 31 May 2025	30,160	8,557	23,020	16,411	78,148

Depreciation
As at 1 June 2024	22,520	7,395	1,610	14,340	45,865
Provided during the period	3,016	460	4,604	799	8,879

As at 31 May 2025	25,536	7,855	6,214	15,139	54,744

Net Book Value
As at 31 May 2025	4,624	702	16,806	1,272	23,404

As at 1 June 2024	7,640	1,162	21,410	1,299	31,511

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	62,023	18,000
Other debtors	41,339	155,166

	103,362	173,166
Due after more than one year
Other debtors	1,083,221	965,692

	1,186,583	1,138,858

Page 4

Page 5

Prospects Assured UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	3,647	2,702
Trade creditors	4,801	-
Bank loans and overdrafts	34,431	30,987
Other creditors	90,682	295,686
Taxation and social security	145,935	133,484

	279,496	462,859

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	6,318	10,227
Bank loans	118,873	57,063
Other creditors	175,000	-

	300,191	67,290

8. Deferred Taxation

The provision for deferred taxation is made up of accelerated capital allowances.

	2025	2024
	£	£
Other timing differences	4,695	5,967

9. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
120 Ordinary Shares of £ 1.000 each	120	120
10 Ordinary B shares of £ 8.000 each	80	80

	200	200

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	10,091	19,396
Later than one year and not later than five years	10,639	20,730

	20,730	40,126

11. Pension Commitments

The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable by the company are charged to profit or loss in the year in which they are due.

At the balance sheet date, outstanding contributions amounted to £342 (2024 – £nil). These are included within Other Creditors.

Page 5

Page 6

Prospects Assured UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

12. Related Party Transactions

Related Party Transactions

The company has entered into transactions with related parties by virtue of common ownership and control with a key member of the board. All balances are unsecured.

Included within Other Debtors at the balance sheet date are the following amounts due from related undertakings:

Margate High Street Ltd: £121 (2024 – £121), interest free and repayable on demand.
DSG Property Management Ltd: £800,218 (2024 – £791,612), interest free with no set repayment terms as this is a related party loan.
DSG Property Freehold Ltd: £174,080 (2024 – £174,080), interest free and repayable within five years.
Westbrook Esplanade Investments Ltd: £8,923 (2024 – £nil), interest free and repayable within five years.
* G&B Brothers Ltd: £240 (2024 – £240), interest free and repayable on demand.
Gooding & Krunic Ltd: £276 (2024 – £180), interest free and repayable on demand.
Goodtipping Ltd: £2,000 (2024 – £2,000), interest free and repayable on demand.
Margate Property Investment Group Ltd: £9,022 (2024 – £21,182), interest free and repayable within five years.

Included within Creditors is a loan due to Westbrook Esplanade Investments Ltd amounting to £nil (2024 – £4,603). This loan is interest free and repayable within two to five years.

No guarantees have been given or received in respect of these balances.

Page 6

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		23,404		31,511

			23,404		31,511
CURRENT ASSETS
Debtors	5	1,186,583		1,138,858
Cash at bank and in hand		54,683		26,253

		1,241,266		1,165,111
Creditors: Amounts Falling Due Within One Year	6	(279,496 )		(462,859 )

NET CURRENT ASSETS (LIABILITIES)			961,770		702,252

TOTAL ASSETS LESS CURRENT LIABILITIES			985,174		733,763

Creditors: Amounts Falling Due After More Than One Year	7		(300,191 )		(67,290 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	8		(4,695 )		(5,967 )

NET ASSETS			680,288		660,506

CAPITAL AND RESERVES
Called up share capital	9		200		200
Profit and Loss Account			680,088		660,306

SHAREHOLDERS' FUNDS			680,288		660,506