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Registered number: 09457742
Charity number: 1164537
PREP-RS LIMITED
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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PREP-RS LIMITED
(A company limited by guarantee)
CONTENTS
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Reference and administrative details of the Company, its Trustees and advisers
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Statement of financial activities
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Notes to the financial statements
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PREP-RS LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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Ms S Kucaj, Chief Executive
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Company registered number
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Charity registered number
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8 College Park
Peterborough
Cambridgeshire
PE1 4AW
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PREP-RS LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
The Trustees present their annual report together with the financial statements of the Prep-RS Limited for the 1 March 2024 to 28 February 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The principal objective of the company is to provide services in advancement of health or saving of lives.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The strategies for the year included raising awareness of our charity and continuing to produce, film and broadcast educational videos.
c. Activities undertaken to achieve objectives
The activities include the production of training videos , the loading up and sharing of various publications including those produced by the UK Government.
Achievements and performance
a. Main achievements of the Company
The main achievements over the year were to produce a further fifteen educational videos, and released them on social media. The subscribers to our platform rose by in excess of 500 over the year and an additional 148,000 were watched making a total of nearly 2 million.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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PREP-RS LIMITED
(A company limited by guarantee)
Structure, governance and management
a. Constitution
Prep-RS Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
Trustees' liability
The trustees of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
∙select suitable accounting policies and then apply them consistently;
∙observe the methods and principles of the Charities SORP (FRS 102);
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 18 December 2025 and signed on their behalf by:
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PREP-RS LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 28 FEBRUARY 2025
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Total funds brought forward
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Total funds carried forward
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The Statement of financial activities includes all gains and losses recognised in the year.
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The notes on pages 6 to 10 form part of these financial statements.
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PREP-RS LIMITED
(A company limited by guarantee)
REGISTERED NUMBER: 09457742
BALANCE SHEET
AS AT 28 FEBRUARY 2025
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Creditors: amounts falling due within one year
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The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 18 December 2025 and signed on their behalf by:
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The notes on pages 6 to 10 form part of these financial statements.
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PREP-RS LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Prep-RS Limited is a private company, limited by guarantee and registered in England and Wales. The company's registered office address and number are detailed on page 1.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Prep-RS Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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PREP-RS LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
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Liabilities and provisions
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Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
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Income from donations and legacies
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Analysis of expenditure on charitable activities
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The provision of services in advancement of health or saving of lives
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PREP-RS LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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Analysis of expenditure by activities
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The provision of services in advancement of health or saving of lives
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Activities undertaken directly
2024
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The provision of services in advancement of health or saving of lives
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Trustees' remuneration and expenses
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During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
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During the year ended 28 February 2025, expenses totalling £1,070 were reimbursed or paid directly to 2 Trustees (2024 - £400 to 2 Trustees). The expenses related to travel and subsistence.
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Finished goods and goods for resale
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PREP-RS LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Financial assets measured at fair value through income and expenditure
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Statement of funds - current year
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Balance at 1 March 2024
£
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Balance at 28 February 2025
£
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Summary of funds - current year
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Balance at 1 March 2024
£
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Balance at 28 February 2025
£
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PREP-RS LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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Analysis of net assets between funds
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Analysis of net assets between funds - current year
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Unrestricted funds
28 February
2025
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Total
funds
28 February
2025
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Creditors due within one year
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Analysis of net assets between funds - prior year
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Unrestricted funds
29 February
2024
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Total
funds
29 February
2024
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Creditors due within one year
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