Company No: 03689587 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	David John Morrison
	Venetia Anne Morrison

REGISTERED OFFICE	22 Chancery Lane
	London
	WC2A 1LS
	United Kingdom

COMPANY NUMBER

03689587 (England and Wales)

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,316		1,918
Investment property	4	1,530,000		1,400,000
Investments	5	3,666,631		3,514,017
		5,197,947		4,915,935
Current assets
Debtors	6	1,311,334		1,303,739
Cash at bank and in hand		280,527		663,927
		1,591,861		1,967,666
Creditors: amounts falling due within one year	7	( 42,008)		( 13,775)
Net current assets		1,549,853		1,953,891
Total assets less current liabilities		6,747,800		6,869,826
Provision for liabilities	8	( 124,992)		( 142,524)
Net assets		6,622,808		6,727,302
Capital and reserves
Called-up share capital		30,000		30,000
Profit and loss account		6,592,808		6,697,302
Total shareholders' funds		6,622,808		6,727,302

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 Profit and Loss Account has not been delivered.

The financial statements of Prospect Investment Management Limited (registered number: 03689587) were approved and authorised for issue by the Board of Directors on 30 December 2025. They were signed on its behalf by:

David John Morrison Director

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

Prospect Investment Management 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 22 Chancery Lane, London, WC2A 1LS, United Kingdom. The principal place of business is 27 Westminster Gardens, Marsham Street, London, SW1P 4JD.

The financial statements have been prepared under the historical cost convention, modified 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is charged so as to write off the cost of the assets as follows:

Plant and machinery etc.

2 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Income recognition

Rental income is included in other operating income and is recognised over the period to which it relates on an accruals basis.

Dividends from equity securities are recognised in income from other fixed asset investments when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably).

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year	2		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	13,538		13,538
Additions	1,717		1,717
At 31 March 2025	15,255		15,255
Accumulated depreciation
At 01 April 2024	11,620		11,620
Charge for the financial year	2,319		2,319
At 31 March 2025	13,939		13,939
Net book value
At 31 March 2025	1,316		1,316
At 31 March 2024	1,918		1,918

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	1,400,000
Fair value movement	130,000
As at 31 March 2025	1,530,000

The investment properties class of fixed assets was valued on 31 March 2025 by D J Morrison who is a director of the company. The basis of this valuation was comparison to recent sales of similar properties and reference to a relevant residential property price index.

The historical cost of the investment properties as at 31 March 2025 was £1,161,242 (2024 - £1,161,242).

5. Fixed asset investments

	2025		2024
	£		£
Subsidiary undertakings	1		1
Other investments and loans	3,666,630		3,514,016
	3,666,631		3,514,017

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	1
At 31 March 2025	1
Carrying value at 31 March 2025	1
Carrying value at 31 March 2024	1

Details of the investments in which the company holds 20% or more of the nominal value of any class of shares capital are as follows:

PIML Properties Limited - registered office address is 22 Chancery Lane, London, WC2A 1LS registered in England and Wales. The company holds 100% of the ordinary share capital of PIML Properties Limited (2024 - 100%). PIML Properties Limited is a dormant company.

	Listed investments		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 April 2024	1,898,961		1,615,055		3,514,016
Additions	2,384,982		326,849		2,711,831
Disposals	( 1,628,001)		0		( 1,628,001)
Movement in fair value	( 720,360)		( 210,856)		( 931,216)
At 31 March 2025	1,935,582		1,731,048		3,666,630
Carrying value at 31 March 2025	1,935,582		1,731,048		3,666,630
Carrying value at 31 March 2024	1,898,961		1,615,055		3,514,016

6. Debtors

	2025		2024
	£		£
Amounts owed by related parties	1,303,739		1,303,739
Prepayments	7,595		0
	1,311,334		1,303,739

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Taxation and social security	28,660		0
Other creditors	13,348		13,775
	42,008		13,775

8. Provision for liabilities

	2025		2024
	£		£
Deferred tax	124,992		142,524