REGISTERED NUMBER: 12146281 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

FOR

PROSPECT PROPERTY MANAGEMENT LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J W Nicholson

REGISTERED OFFICE:

Burnside House

Cambridge Road

Middlesbrough

TS3 8AG

REGISTERED NUMBER:

12146281 (England and Wales)

ACCOUNTANTS:

Lyons & Co Ltd

23 Yarm Road

Stockton on Tees

TS18 3NJ

FIXED ASSETS

Tangible assets

4

2,861

3,366

Investment property

5

448,469

437,153

451,330

440,519

CURRENT ASSETS

Stocks

105,259

-

Cash at bank

2,899

3,133

108,158

3,133

CREDITORS

Amounts falling due within one year

275,525

429,697

NET CURRENT LIABILITIES

(167,367

)

(426,564

)

TOTAL ASSETS LESS CURRENT LIABILITIES

283,963

13,955

CREDITORS

Amounts falling due after more than one year

6

283,000

-

NET ASSETS

963

13,955

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

863

13,855

963

13,955

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 15 April 2026 and were signed by:

Mr J W Nicholson - Director

1.	STATUTORY INFORMATION

Prospect Property Management 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.

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

-

15% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2024

and 31 July 2025

3,960

DEPRECIATION

At 1 August 2024

594

Charge for year

505

At 31 July 2025

1,099

NET BOOK VALUE

At 31 July 2025

2,861

At 31 July 2024

3,366

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2024

437,153

Additions

11,316

At 31 July 2025

448,469

NET BOOK VALUE

At 31 July 2025

448,469

At 31 July 2024

437,153

The investment property is included at cost which the director agrees is a fair estimate of open market value.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31/7/25

31/7/24

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

283,000

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

31/7/25

31/7/24

£

£

Bank loans

283,000

-

The mortgage is secured by a fixed legal charge over property owned by the company and a personal guarantee from the director.

8.	RELATED PARTY DISCLOSURES

Prospect House Investments Ltd is considered a related party due to family connections and interest was charged from them at a rate of 2.5% per annum.The amount owed to the company at the year end was £209,791 (2024 £311,355) Interest at a rate of 4.44% per annum was paid to a director on a loan which was considered to be at a market rate.

Loan interest of £2,000 (2024 £Nil) was paid to Mr J W Nicholson, director in the year.