Prime Property Lets Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 10669677 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

PRIME PROPERTY LETS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Taylor

REGISTERED OFFICE:

Unit A6

Chaucer Business Park

Dittons Road

Polegate

East Sussex

BN26 6QH

REGISTERED NUMBER:

10669677 (England and Wales)

ACCOUNTANTS:

MDJ Services Limited

Unit A6

Chaucer Business Park

Dittons Road

Polegate

East Sussex

BN26 6QH

FIXED ASSETS

Investment property

4

171,769

CREDITORS

Amounts falling due within one year

5

44,844

44,832

NET CURRENT LIABILITIES

(44,844

)

(44,832

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

126,925

126,937

CREDITORS

Amounts falling due after more than one
year

6

131,920

NET LIABILITIES

(4,995

)

(4,983

)

CAPITAL AND RESERVES

Called up share capital

12

Retained earnings

8

(5,007

)

(4,996

)

SHAREHOLDERS' FUNDS

(4,995

)

(4,984

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 December 2025 and were signed by:

S Taylor - Director

**	STATEMENT OF FINANCIAL POSITION - LAST YEAR - DOES NOT BALANCE - PLEASE CHECK THAT ALL POSTINGS HAVE BEEN MADE TO ACCOUNTS USED ON LIMITED COMPANY REPORTS

1.	STATUTORY INFORMATION

Prime Property Lets Ltd 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.

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.

Turnover

Turnover represents rents receivable net of VAT where applicable.

Investment property

Investment property, being property that is held either to earn rental income or for capital appreciation or both, is stated at its fair value at the balance sheet date.

Investment property is measured initially at cost including transaction costs and thereafter is stated at fair value, which reflects market conditions at the balance sheet date. Gains and losses arising from changes in the fair value of investment property are included in profit or loss for the period in which they arise.

Investment property is stated at fair value as determined by the director. The fair value represents the amount at which the asset could be sold on the open market in an arms-length transaction at the date of valuation. In assessing the fair value of investment property, the director makes use of historical and current market data.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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 year was NIL (2024 - 4 ).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

171,769

NET BOOK VALUE

At 31 March 2025

171,769

At 31 March 2024

171,769

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other creditors

44,844

44,832

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans

131,920

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans repayable in more than 5 years
not by instalments

131,920

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Bank loans

131,920

8.

RESERVES

Retained

earnings

£

At 1 April 2024

(4,996

)

Deficit for the year

(11

)

At 31 March 2025

(5,007

)