Company Registration No. 13750829 (England and Wales)
Priority Residences Limited
Unaudited accounts
for the year ended 30 November 2025
Priority Residences Limited
Unaudited accounts
Contents
Priority Residences Limited
Company Information
for the year ended 30 November 2025
Company Number
13750829 (England and Wales)
Registered Office
10 Grove Place
Hartspring Lane
Watford
WD25 8AH
United Kingdom
Priority Residences Limited
Statement of financial position
as at 30 November 2025
Investment property
232,816
232,816
Cash at bank and in hand
352
7,188
Creditors: amounts falling due within one year
(51,712)
(39,358)
Net current liabilities
(51,360)
(32,170)
Total assets less current liabilities
181,456
200,646
Creditors: amounts falling due after more than one year
(207,928)
(207,929)
Net liabilities
(26,472)
(7,283)
Called up share capital
1
1
Profit and loss account
(26,473)
(7,284)
Shareholders' funds
(26,472)
(7,283)
For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 August 2026 and were signed on its behalf by
Chukwudi Uzoho
Director
Company Registration No. 13750829
Priority Residences Limited
Notes to the Accounts
for the year ended 30 November 2025
Priority Residences Limited is a private company, limited by shares, registered in England and Wales, registration number 13750829. The registered office is 10 Grove Place, Hartspring Lane, Watford, WD25 8AH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention, except for investment property which is measured at fair value.
The accounts are presented in £ sterling.
The financial statements have been prepared on a going concern basis. The Director has considered the Company's financial position and future cash requirements and, having regard to the continued financial support available to the Company, is satisfied that the Company will be able to meet its liabilities as they fall due.
Rental income represents amounts receivable from the letting of investment property and is recognised on an accruals basis over the period to which it relates.
Investment property comprises property held to earn rental income and/or for capital appreciation. Investment property is initially recognised at cost and subsequently measured at fair value at each reporting date. Changes in fair value are recognised in the income statement.
Interest income and expense
Interest income and borrowing costs are recognised in the income statement using the effective interest method.
Fair value at 1 December 2024
232,816
At 30 November 2025
232,816
The investment property was valued at £232,816 at 30 November 2025. The valuation was determined by the Director having regard to prevailing market conditions and comparable properties. The valuation was not undertaken by an independent professionally qualified valuer.
Priority Residences Limited
Notes to the Accounts
for the year ended 30 November 2025
5
Creditors: amounts falling due within one year
2025
2024
Loans from directors
50,796
38,153
6
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
207,928
207,929
The loan is secured on the property, bears interest and repayment is currently on an interest-only basis.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director loan account
(38,153)
(12,643)
-
(50,796)
(38,153)
(12,643)
-
(50,796)
At the balance sheet date the Company owed £50,796 (2024: £38,153) to the Director. The loan is unsecured and interest-free.
9
Average number of employees
During the year the average number of employees was 1 (2024: 1).