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Registered Number: 04011067
England and Wales

 

 

 

PRAISE LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 November 2024

End date: 31 October 2025

Praise Limited
Contents Page
For the year ended 31 October 2025
Report to the directors on the preparation of the unaudited statutory accounts of Praise Limited for the year ended 31 October 2025.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Praise Limited for the year ended 31 October 2025 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of Praise Limited, as a body, in accordance with the terms of our engagement letter dated 27 July 2026. Our work has been undertaken solely to prepare for your approval the accounts of Praise Limited and state those matters that we have agreed to state to the Board of Directors of Praise Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Praise Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Praise Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Praise Limited. You consider that Praise Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Praise Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 October 2025.



....................................................
Martin Morrison & Co Limited
Unit 43 The Coach House
66-70 Bourne Road
Bexley
DA5 1LU
27 July 2026
1
 
 		 Notes
 		 2025
£		   2024
£
Fixed assets      
Intangible fixed assets 3 1    1 
Tangible fixed assets 4 293,005    293,005 
293,006    293,006 
Current assets      
Stocks 33,185    34,985 
Debtors 73,861    56,569 
Cash at bank and in hand 121,334    120,736 
228,380    212,290 
Creditors: amount falling due within one year (36,484)   (49,809)
Net current assets 191,896    162,481 
 
Total assets less current liabilities 484,902    455,487 
Net assets 484,902    455,487 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 484,802    455,387 
Shareholders' funds 484,902    455,487 
 


For the year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges 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 profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 27 July 2026 and were signed by:


-------------------------------
Adeniyi Olalekan John Adeyemo
Director
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General Information
Praise Limited is a private company, limited by shares, registered in England and Wales, registration number 04011067, registration address Unit 43 The Coach House, 66-67 Bourne Road, Bexley, Kent, DA5 1LU.

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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
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:
Motor Vehicles 25% Straight Line
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 7 (2024 : 7).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2024 49,500    49,500 
Additions -    - 
Disposals -    - 
At 31 October 2025 49,500    49,500 
Amortisation
At 01 November 2024 49,499    49,499 
Charge for year -    - 
On disposals -    - 
At 31 October 2025 49,499    49,499 
Net book values
At 31 October 2025 1    1 
At 31 October 2024 1    1 


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Investment properties   Total
  £   £   £   £   £
At 01 November 2024 30,491    10,454    22,226    293,002    356,173 
Additions -    -    -    -    - 
Disposals -    -    -    -    - 
At 31 October 2025 30,491    10,454    22,226    293,002    356,173 
Depreciation
At 01 November 2024 30,490    10,453    22,225    -    63,168 
Charge for year -    -    -    -    - 
On disposals -    -    -    -    - 
At 31 October 2025 30,490    10,453    22,225    -    63,168 
Net book values
Closing balance as at 31 October 2025 1    1    1    293,002    293,005 
Opening balance as at 01 November 2024 1    1    1    293,002    293,005 


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