Principle FS Ltd - Accounts

Principle FS Ltd
Contents Page
For the year ended 31 December 2025

Company Information	1
Directors' Report	2
Statement of Financial Position	3
Notes to the Financial Statements	4

Principle FS Ltd
Company Information
For the year ended 31 December 2025

Directors	Benjamin Mitchell Simon Gregory Martin Faulkner
Registered Number	15482528
Registered Office	68 School Road, Tilehurst RG31 5AW

1

Principle FS Ltd
Directors' Report
For the year ended 31 December 2025

Director's report and financial statements

The directors present his/her/their annual report and the financial statements for the year ended 31 December 2025

Directors

The directors who served the company throughout the year were as follows:

Benjamin Mitchell

Simon Gregory

Martin Faulkner

Bruce Taylor

Statement of directors' responsibilities

The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors 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 the profit or loss of the company for that period. In preparing these financial statements, the directors are required to

select suitable accounting policies and then apply them consistently
make judgments and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that 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. The directors 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:

----------------------------------
Benjamin Mitchell
Director

Date approved: 13 July 2026

2

Principle FS Ltd
Statement of Financial Position
As at 31 December 2025

	Notes	2025 £	2024 £
Fixed assets
Tangible fixed assets	3	986	980
		986	980
Current assets
Debtors	4	2,042	113
Cash at bank and in hand		8,605	4,962
		10,647	5,075
Creditors: amount falling due within one year	5	(52,067)	(37,356)
Net current assets		(41,420)	(32,281)

Total assets less current liabilities		(40,434)	(31,301)
Provisions for liabilities	6	(187)	(245)
Net assets		(40,621)	(31,546)

Capital and reserves
Called up share capital		100	100
Profit and loss account		(40,721)	(31,646)
Shareholders' funds		(40,621)	(31,546)

For the year ended 31 December 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 accounts for the year in question 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 accounts.

These 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 to the Registrar of Companies.

The financial statements were approved by the board of directors on 13 July 2026 and were signed on its behalf by:

-------------------------------
Benjamin Mitchell
Director

3

Principle FS Ltd
Notes to the Financial Statements
For the year ended 31 December 2025

General Information

Principle FS Ltd is a private company, limited by shares, registered in England and Wales, registration number 15482528, registration address 68 School Road, Tilehurst, RG31 5AW.

The presentation currency is £ sterling.

1.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Going concern basis

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Finance lease and hire purchase charges

The finance element of the rental payment is charged to the income statement on a straight line basis.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixtures and Fittings	25% Straight Line
Computer Equipment	33% Reducing Balance

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 2 (2024 : 2).

3.

Tangible fixed assets

Cost or valuation	Fixtures and Fittings	Computer Equipment	Total
	£	£	£
At 01 January 2025	100	1,156	1,256
Additions	-	569	569
Disposals	-	-	-
At 31 December 2025	100	1,725	1,825
Depreciation
At 01 January 2025	6	270	276
Charge for year	25	538	563
On disposals	-	-	-
At 31 December 2025	31	808	839
Net book values
Closing balance as at 31 December 2025	69	917	986
Opening balance as at 01 January 2025	94	886	980

4.

Debtors: amounts falling due within one year

	2025 £	2024 £
Amounts owed by Group Undertakings	0	113
Other Debtors	2,042	0
	2,042	113

5.

Creditors: amount falling due within one year

	2025 £	2024 £
Trade Creditors	807	306
Amounts Owed to Group Undertakings	40,104	31,670
PAYE & Social Security	8,079	4,463
Accrued Expenses	2,649	917
Wages & Salaries Control Account	70	0
Pension Control Account	358	0
	52,067	37,356

6.

Provisions for liabilities

	2025 £		2024 £
Deferred Tax	187		245
	187		245

4

Registered Number: 15482528
England and Wales
PRINCIPLE FS LTD

Unaudited Financial Statements

Period of accounts Start date: 01 January 2025 End date: 31 December 2025