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Registered number: 00877269 PROSPECTUS LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
PROSPECTUS LIMITED REGISTERED NUMBER: 00877269 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 21,745 |  | 27,433
Investments | 5 |  | 100 |  | 100
|  |  | 21,845 |  | 27,533
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 3,658,927 |  | 3,832,205 |
Cash at bank and in hand | 7 | 9,679 |  | 50,549 |
|  | 3,668,606 |  | 3,882,754 |
Creditors: amounts falling due within one year | 8 | (1,694,790) |  | (1,613,062) |
Net current assets |  |  | 1,973,816 |  | 2,269,692
Total assets less current liabilities |  |  | 1,995,661 |  | 2,297,225
Net assets |  |  | 1,995,661 |  | 2,297,225
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 263,871 |  | 263,871
Share premium account |  |  | 65,160 |  | 65,160
Other reserves |  |  | 155,857 |  | 155,857
Profit and loss account |  |  | 1,510,773 |  | 1,812,337
|  |  | 1,995,661 |  | 2,297,225
Page 1
PROSPECTUS LIMITED REGISTERED NUMBER: 00877269 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D J Gold
Director
Date: 18 November 2025
The notes on pages 3 to 10 form part of these financial statements. Page 2
PROSPECTUS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Prospectus Limited is a private company limited by shares, incorporated in England & Wales (registered number:00877269). The registered office address is 20-22 Stukeley Street, London, WC2B 5LR. The financial statements are presented in Sterling, which is the functional currency of the company. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Business Combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or asumed, and equity instruments issues by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
| 2.4 | Going concern
The financial statements have been prepared on the going concern basis. While the Company is in a net asset position, this is predominantly the result of intercompany debt due from other group companies. The directors have confirmed that the company will continue to be supported so that the company can meet its obligations as they fall due for a period of 12 months from the date of this report. We therefore consider it appropriate to prepare the financial statements on the going concern basis. Page 3
PROSPECTUS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.5 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 4
PROSPECTUS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.9 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Long-term leasehold property | - | Over the term of the lease
|  |  |  | Plant and machinery | - | Straight line over 4 years
|  |  |  | Fixtures and fittings | - | Straight line over 8 years
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.11 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 5
PROSPECTUS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.12 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.15 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Permanent staff (includng directors) | 57 | 73
|  | Temporary staff | 102 | 123
|  |  | 159 | 196
Page 6
PROSPECTUS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Leasehold improvements | Plant and machinery | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 April 2024 | 130,330 | 113,583 | 42,898 | 286,811
| Additions | - | 4,197 | 5,536 | 9,733
| At 31 March 2025 | 130,330 | 117,780 | 48,434 | 296,544
| Depreciation |  |  |  |
| At 1 April 2024 | 130,330 | 97,483 | 31,565 | 259,378
| Charge for the year on owned assets | - | 13,621 | 1,800 | 15,421
| At 31 March 2025 | 130,330 | 111,104 | 33,365 | 274,799
| Net book value |  |  |  |
| At 31 March 2025 | - | 6,676 | 15,069 | 21,745
| At 31 March 2024 | - | 16,100 | 11,333 | 27,433
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 April 2024 | 100
| At 31 March 2025 | 100
Page 7
PROSPECTUS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| Prospect Temps Ltd | 20-22 Stukeley Street, London, WC2B 5LR | Ordinary | 100%
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 747,994 | 1,078,332
| Amounts owed by group undertakings | 2,567,180 | 2,492,964
| Other debtors | 28,300 | 23,123
| Prepayments and accrued income | 218,839 | 215,604
| Deferred taxation | 96,614 | 22,182
|  | 3,658,927 | 3,832,205
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 9,679 | 50,549
| Less: bank overdrafts | (260,049) | (420,490)
|  | (250,370) | (369,941)
Page 8
PROSPECTUS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 260,049 | 420,490
| Trade creditors | 363,728 | 164,613
| Other taxation and social security | 624,527 | 584,187
| Other creditors | 206,744 | 203,878
| Accruals and deferred income | 239,742 | 239,894
|  | 1,694,790 | 1,613,062
| Invoice discounting and overdraft facilities are secured by way of both fixed and floating charges over the assets of the company and its parent undertakings. There is a cross-guarantee in place between Prospectus Limited, its parent company Prospectus Management Limited and its ultimate parent company, Prospectus 3.0 Limited on all borrowings outstanding witin the group at the Balance Sheet date.
9. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 22,182
| Charged to profit or loss | 74,431
| At end of year | 96,613
| The deferred tax asset is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (4,680) | (6,858)
| Tax losses carried forward | 101,293 | 29,040
|  | 96,613 | 22,182
Page 9
PROSPECTUS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £120,378 (2024 - £133,197) . Contributions totalling £19,635 (2024 - £20,633) were payable to the fund at the balance sheet date and are included in creditors.
11. | Commitments under operating leases
| At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 157,592 | 172,027
| Later than 1 year and not later than 5 years | 320,700 | 331,925
| Later than 5 years | 164,804 | -
|  | 643,096 | 503,952
12. | Related party transactions
| Included within debtors is an amount of £2,567,180 (2024: £2,492,964) that relates to amounts due from group companies.
13. | Controlling party
The company is controlled by Prospectus Management Ltd which is the parent company holding the entire issue ordinary share capital of the reporting company. Its registered office and principal place of business is 20-22 Stukeley Street, London, WC2B 5LR. Prospectus 3.0 Ltd is the ultimate parent company of Prospectus Ltd. Its registered office and pincipal place of business is 20-22 Stukeley Street, London, WC2B 5LR.
14. | Auditors' information
The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified. The audit report was signed on 18 November 2025 by Daniel Walters (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.
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