ACCOUNTS - Final Accounts

PRP COMMUNICATIONS LIMITED - Company Information

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Registered number: 08832952

PRP COMMUNICATIONS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2019

PRP COMMUNICATIONS LIMITED

REGISTERED NUMBER: 08832952

BALANCE SHEET

AS AT 31 JANUARY 2019

		2019		2018
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	12,519		9,325
Cash at bank and in hand	5	25,126		28,644
		37,645		37,969
Creditors: amounts falling due within one year	6	(27,292)		(35,018)
Net current assets			10,353		2,951
Total assets less current liabilities			10,353		2,951

Net assets			10,353		2,951

Capital and reserves
Called up share capital	100	100
Profit and loss account	10,253	2,851
	10,353	2,951

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PRP COMMUNICATIONS LIMITED

REGISTERED NUMBER: 08832952

BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2019

The director considers 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 Companies Act 2006.

The director acknowledges her 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 by:

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

J Wantman

Director

Date: 11 October 2019

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

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PRP COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

1.	General information

PRP Communications Limited is a private company, limited by shares. The company is incorporated in England and the address of its registered office is Aston House, Cornwall Avenue, London, N3 1LF. The registered number is 08832952.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

2.3

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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PRP COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

2.Accounting policies (continued)

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2018 - 1).

Debtors

					2019	2018
					£	£


Trade debtors	12,519	9,325
	12,519	9,325

5.	Cash and cash equivalents
		2019	2018
		£	£

Cash at bank and in hand	25,126	28,644
	25,126	28,644

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PRP COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

6.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Corporation tax	6,545	6,751
Other creditors	19,283	26,803
Accruals and deferred income	1,464	1,464
	27,292	35,018

7.	Financial instruments
		2019	2018
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	25,126	28,644

Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

8.	Transactions with directors
	Included in other creditors is an amount of £19,282 (2018: £26,801) due to the director. This amount is unsecured, interest free and repayable by mutual consent. During the year, dividends of £20,000 (2018: £26,000) were paid to the director.

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