Company Registration No. 11883503 (England and Wales)
Prinford Properties Ltd
Unaudited accounts
for the year ended 28 February 2025
Prinford Properties Ltd
Statement of financial position
as at 28 February 2025
Tangible assets
4,327
8,925
Investment property
266,000
562,000
Cash at bank and in hand
20,168
5,013
Creditors: amounts falling due within one year
(12,806)
(12,430)
Net current assets/(liabilities)
7,643
(7,417)
Total assets less current liabilities
277,970
563,508
Creditors: amounts falling due after more than one year
(234,775)
(468,337)
Provisions for liabilities
Deferred tax
(9,499)
(27,451)
Called up share capital
100
100
Fair value reserve
45,667
113,040
Profit and loss account
(12,071)
(45,420)
Shareholders' funds
33,696
67,720
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2025 and were signed on its behalf by
Holly Ruth Brisbane
Director
Company Registration No. 11883503
Prinford Properties Ltd
Notes to the Accounts
for the year ended 28 February 2025
Prinford Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 11883503. The registered office is 27 Bewell Head, Bromsgrove, Worcestershire, B61 8HY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
Straight Line - 4 Years
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Prinford Properties Ltd
Notes to the Accounts
for the year ended 28 February 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 March 2024
-
20,400
20,400
At 28 February 2025
603
20,400
21,003
At 1 March 2024
-
11,475
11,475
Charge for the year
101
5,100
5,201
At 28 February 2025
101
16,575
16,676
At 28 February 2025
502
3,825
4,327
At 29 February 2024
-
8,925
8,925
Fair value at 1 March 2024
562,000
Net gain from fair value adjustments
6,000
At 28 February 2025
266,000
The property revaluation was undertaken by the Directors.
Amounts falling due within one year
Accrued income and prepayments
281
-
7
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
10,000
10,000
Taxes and social security
1,467
-
8
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
138,531
294,656
Loans from directors
96,244
173,681
Prinford Properties Ltd
Notes to the Accounts
for the year ended 28 February 2025
9
Deferred taxation
2025
2024
Accelerated capital allowances
822
1,696
Revaluation of investment property
8,677
21,477
Tax losses carried forward
-
4,278
Provision at start of year
27,451
11,542
(Credited)/charged to the profit and loss account
(17,952)
15,909
Provision at end of year
9,499
27,451
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Average number of employees
During the year the average number of employees was 1 (2024: 1).