The Prospering Place Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 12715518

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		10,999		14,665

			10,999		14,665
CURRENT ASSETS
Debtors	5	83,332		28,979
Cash at bank and in hand		162,063		46,960

		245,395		75,939
Creditors: Amounts Falling Due Within One Year	6	(121,499 )		(79,932 )

NET CURRENT ASSETS (LIABILITIES)			123,896		(3,993 )

TOTAL ASSETS LESS CURRENT LIABILITIES			134,895		10,672

Creditors: Amounts Falling Due After More Than One Year	7		(10,550 )		(10,550 )

NET ASSETS			124,345		122

CAPITAL AND RESERVES
Called up share capital	9		102		102
Profit and Loss Account			124,243		20

SHAREHOLDERS' FUNDS			124,345		122

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The Prospering Place Ltd

Balance Sheet (continued)

As At 31 July 2025

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Ms Abena Akom

Director

07/10/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

The Prospering Place Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12715518 . The registered office is Suite 401, Coventry Chambers 1-3 Coventry Road, Ilford, IG1 4QR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:

Plant & Machinery	25% Reducing balance
Motor Vehicles	25% Reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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

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The Prospering Place Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.5. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 20 (2024: 15)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 August 2024	3,000	24,384	27,384

As at 31 July 2025	3,000	24,384	27,384

Depreciation
As at 1 August 2024	2,051	10,668	12,719
Provided during the period	237	3,429	3,666

As at 31 July 2025	2,288	14,097	16,385

Net Book Value
As at 31 July 2025	712	10,287	10,999

As at 1 August 2024	949	13,716	14,665

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	83,125	28,343
Other debtors	207	207
Director's loan account	-	429

	83,332	28,979

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The Prospering Place Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	3,517	3,517
Trade creditors	25	24
Bank loans and overdrafts	1,035	3,024
Corporation tax	59,429	29,197
Other taxes and social security	54,933	14,243
Net wages	-	28,652
Pension payable	2,226	1,275
Director's loan account	334	-

	121,499	79,932

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	10,550	10,550

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	3,517	3,517
Later than one year and not later than five years	10,550	10,550

	14,067	14,067

	14,067	14,067

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	102	102

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