REGISTERED NUMBER: 07440252 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Prism London Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Laub

REGISTERED OFFICE:

213B Chevening Road

London

NW6 6DT

REGISTERED NUMBER:

07440252 (England and Wales)

ACCOUNTANTS:

We`ll Mind Your Own Business LTD

39 Long Acre

London

WC2E 9LG

FIXED ASSETS

Tangible assets

4

267

618

CURRENT ASSETS

Stocks

5

426,000

428,567

Debtors

6

16,066

36,450

Cash at bank and in hand

3,364

7,093

445,430

472,110

CREDITORS

Amounts falling due within one year

7

171,816

973,841

NET CURRENT ASSETS/(LIABILITIES)

273,614

(501,731

)

TOTAL ASSETS LESS CURRENT LIABILITIES

273,881

(501,113

)

CREDITORS

Amounts falling due after more than one year

8

788,352

14,806

NET LIABILITIES

(514,471

)

(515,919

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(514,472

)

(515,920

)

(514,471

)

(515,919

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 December 2025 and were signed by:

A Laub - Director

1.	STATUTORY INFORMATION

Prism London Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provision of the financial instrument.

Cash and cash equivalents

Comprises of cash at bank.

Financial Assets

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Financial Liabilities

Creditors are not interest bearing and are stated at their nominal value.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

86,890

Disposals

(85,482

)

At 31 December 2024

1,408

DEPRECIATION

At 1 January 2024

86,272

Charge for year

352

Eliminated on disposal

(85,483

)

At 31 December 2024

1,141

NET BOOK VALUE

At 31 December 2024

267

At 31 December 2023

618

5.

STOCKS

31.12.24

31.12.23

£

£

Stocks

133,600

221,365

Raw materials

292,400

207,202

426,000

428,567

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

17,981

Other debtors

14,000

14,209

Tax

58

58

Prepayments and accrued income

2,008

4,202

16,066

36,450

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

34,431

10,140

Trade creditors

32,390

52,980

VAT

613

1,985

Other creditors

2,932

350

Directors' loan accounts

100,000

907,136

Accrued expenses

1,450

1,250

171,816

973,841

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

8,930

14,806

Directors' loan accounts

779,422

-

788,352

14,806

9.	RELATED PARTY DISCLOSURES

At 1 January 2024, the company had a loan of £907,136 outstanding to the company's director. During the year, the company extended a further £21,343 to the director and £49,057 was repaid by the director. The loan is interest-free and £100,000 of the loan is repayable on demand. The remaining balance cannot be repaid within twelve months. The loan is measured at cost. Total value of the loan at 31 December 2024 is £879,422.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Laub.

11.	GOING CONCERN

These accounts have been prepared on the going concern basis, as directors and shareholders confirm their commitment to continue to underpin and support the business.