Company No: 00442890 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	957		1,215
Investment property	4	546,000		584,906
		546,957		586,121
Current assets
Debtors	5	336		183
Cash at bank and in hand		188,856		190,278
		189,192		190,461
Creditors: amounts falling due within one year	6	( 5,192)		( 6,892)
Net current assets		184,000		183,569
Total assets less current liabilities		730,957		769,690
Net assets		730,957		769,690
Capital and reserves
Called-up share capital		500		500
Profit and loss account		730,457		769,190
Total shareholders' funds		730,957		769,690

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

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of George Prior Limited (registered number: 00442890) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J Burton Director

16 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

George Prior Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 10 Cranmer Close, Morden, SM4 4SU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings

5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 April 2024	1,288		1,288
At 31 March 2025	1,288		1,288
Accumulated depreciation
At 01 April 2024	73		73
Charge for the financial year	258		258
At 31 March 2025	331		331
Net book value
At 31 March 2025	957		957
At 31 March 2024	1,215		1,215

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	584,906
Fair value movement	(38,906)
As at 31 March 2025	546,000

Valuation

The 2025 valuations were made by the directors, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	584,906		584,906

5. Debtors

	2025		2024
	£		£
Prepayments	336		183

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to directors	600		1,878
Accruals and deferred income	4,410		4,710
Deferred tax liability	182		304
	5,192		6,892

7. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 304)		0
Credited/(charged) to the Income Statement	122		( 304)
At the end of financial year	( 182)		( 304)