Prime Elstree Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12453834

PRIME ELSTREE LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

26 February 2025

PRIME ELSTREE LTD

STATEMENT OF FINANCIAL POSITION

26 February 2025

	26 Feb 25		29 Feb 24
Note	£	£	£	£

CURRENT ASSETS

Stocks		551,141	190,264
Debtors	4	13,085	9,269
		---------	---------
		564,226	199,533

CREDITORS: amounts falling due within one year	5	( 575,114)		( 202,609)
		---------		---------
NET CURRENT LIABILITIES			( 10,888)		( 3,076)
			--------		-------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 10,888)		( 3,076)
			--------		-------
NET LIABILITIES			( 10,888)		( 3,076)
			--------		-------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	( 10,988)	( 3,176)
	--------	-------
SHAREHOLDERS DEFICIT	( 10,888)	( 3,076)
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 26 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

PRIME ELSTREE LTD

STATEMENT OF FINANCIAL POSITION (continued)

26 February 2025

These financial statements were approved by the board of directors and authorised for issue on 26 May 2026 , and are signed on behalf of the board by:

H Fine
Director

Company registration number: 12453834

PRIME ELSTREE LTD

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 MARCH 2024 TO 26 FEBRUARY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 - 22 Bridge End, Leeds, LS1 4DJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have also been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing support.

Income tax

Deferred Taxation is provided using the liability method on all timing differences that have originated but not reversed at the balance sheet date.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost comprises the acquisition and development costs excluding interest. Development costs include infrastructure costs and costs of houses built. The cost of land acquisition includes options to purchase land, and the cost of any investigation work prior to purchase.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.

4. DEBTORS

	26 Feb 25	29 Feb 24
	£	£
Other debtors	13,085	9,269
	--------	-------

5. CREDITORS: amounts falling due within one year

	26 Feb 25	29 Feb 24
	£	£
Bank loans and overdrafts	29	–
Trade creditors	–	25,006
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	19,141
Other creditors	575,085	158,462
	---------	---------
	575,114	202,609
	---------	---------