ACCOUNTS - Final Accounts preparation

Registered number: 04576968

PRIME RESIDENTIAL & COMMERCIAL PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

PRIME RESIDENTIAL & COMMERCIAL PROPERTIES LIMITED

REGISTERED NUMBER: 04576968

BALANCE SHEET

AS AT 31 MARCH 2026

	2026	2026	2025	2025
Note	£	£	£	£

Fixed assets
Investment property	4		320,000		350,000
Current assets
Debtors: amounts falling due within one year	5	2,379		2,216
Cash at bank and in hand		5,039		930
		7,418		3,146
Creditors: amounts falling due within one year		(307,634)		(308,471)
Net current liabilities			(300,216)		(305,325)
Total assets less current liabilities			19,784		44,675

Net assets			19,784		44,675

Capital and reserves
Called up share capital		90	90
Profit and loss account	6	19,694	44,585
		19,784	44,675

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PRIME RESIDENTIAL & COMMERCIAL PROPERTIES LIMITED

REGISTERED NUMBER: 04576968

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2026

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 October 2026.

................................................

S C Dunn

Director

The notes on pages 3 to 5 form part of these financial statements.

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PRIME RESIDENTIAL & COMMERCIAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Prime Residential & Commercial Properties Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 04576968). Its registered office is Manor House, Manor Lane Adwick-Upon-Dearne, Mexborough, South Yorkshire, S64 0NN. The principal activity of the Company throughout the period was that of letting and operating of own or leased real estate.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

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PRIME RESIDENTIAL & COMMERCIAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the year was 2 (2025 - 2).

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2025	350,000
	Surplus on revaluation	(30,000)
	At 31 March 2026	320,000

The 2026 valuations were made by the directors, on an open market value basis.

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PRIME RESIDENTIAL & COMMERCIAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

5.	Debtors: amounts falling due within one year

					2026	2025
					£	£


Prepayments	2,379	2,216

Reserves

Profit and loss account

Both previous UK GAAP ad FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated that the surplus on revaluation of the property should be held in a revaluation reserve, which, being an unrealised surplus, did not form part of the company's distributable reserves, FRS 102 requires that these surpluses, although still not distributable, be charged through the Profit and Loss Account.

Included within the profit and loss account reserves are non-distributable reserves arising from the changes in the fair value of the investment property of £21,400 (2025: £51,400).

Related party disclosures

At the year end the company owed Mr R F Dawson and Mrs L Dawson £100,000 (2025: £100,000). The profit and loss account was charged £8,000 (2025: £8,000) in relation to interest on the loan. At the balance sheet date, the company owed a total of £2,000 (2025: £2,000) to Mr R F Dawson and Mrs L Dawson in accrued interest.

At the year end the company owed Mr S Dunn £100,000 (2025: £100,000). The profit and loss account was charged £6,400 (2025: £8,000) in relation to interest on the loan. At the balance sheet date, the company owed a total of £1,600 (2025: £2,000) to Mrs S Dunn in accrued interest.

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