Prism Innovations Limited

Prism Innovations Limited

PRISM INNOVATIONS LIMITED - Company Information

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1 January 2019 false Taxfiler 2020.6 04396569business:PrivateLimitedCompanyLtd2019-01-012019-12-31 043965692018-12-31 043965692019-01-012019-12-31 04396569business:AuditExemptWithAccountantsReport2019-01-012019-12-31 04396569business:FullAccounts2019-01-012019-12-31 043965692019-12-31 04396569business:Director12019-01-012019-12-31 04396569business:RegisteredOffice2019-01-012019-12-31 043965692018-12-31 04396569core:WithinOneYear2019-12-31 04396569core:WithinOneYear2018-12-31 04396569core:ShareCapital2019-12-31 04396569core:ShareCapital2018-12-31 04396569core:RetainedEarningsAccumulatedLosses2019-12-31 04396569core:RetainedEarningsAccumulatedLosses2018-12-31 04396569business:SmallEntities2019-01-012019-12-31 04396569countries:EnglandWales2019-01-012019-12-31 04396569core:ComputerEquipment2019-01-012019-12-31 04396569core:ComputerEquipment2018-12-31 04396569core:ComputerEquipment2019-12-31 043965692018-01-012018-12-31 iso4217:GBP xbrli:pure
Company Registration No. 04396569 (England and Wales)
Prism Innovations Limited Unaudited accounts for the year ended 31 December 2019
Prism Innovations Limited Unaudited accounts Contents
Page
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Prism Innovations Limited Company Information for the year ended 31 December 2019
Director
Caroline Wagstaff
Company Number
04396569 (England and Wales)
Registered Office
1 BAILEY CLOSE WINDSOR BERKSHIRE SL4 3RD
Accountants
Cogs Accountancy Services Limited 89 Dedworth Road Windsor Berkshire SL4 5BB
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Prism Innovations Limited Statement of financial position as at 31 December 2019
2019 
2018 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
1,879 
2,506 
Current assets
Inventories
5
46,880 
20,631 
Debtors
6
7,616 
10,226 
Cash at bank and in hand
49,837 
30,745 
104,333 
61,602 
Creditors: amounts falling due within one year
7
(20,401)
(24,204)
Net current assets
83,932 
37,398 
Net assets
85,811 
39,904 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
85,810 
39,903 
Shareholders' funds
85,811 
39,904 
For the year ending 31 December 2019 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 her 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.
Approved by the Board on 27 April 2020.
Caroline Wagstaff Director Company Registration No. 04396569
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Prism Innovations Limited Notes to the Accounts for the year ended 31 December 2019
1
Statutory information
Prism Innovations Limited is a private company, limited by shares, registered in England and Wales, registration number 04396569. The registered office is 1 BAILEY CLOSE, WINDSOR, BERKSHIRE, SL4 3RD.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Reducing Balance
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2019
8,647 
At 31 December 2019
8,647 
Depreciation
At 1 January 2019
6,141 
Charge for the year
627 
At 31 December 2019
6,768 
Net book value
At 31 December 2019
1,879 
At 31 December 2018
2,506 
5
Inventories
2019 
2018 
£ 
£ 
Finished goods
46,880 
20,631 
46,880 
20,631 
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Prism Innovations Limited Notes to the Accounts for the year ended 31 December 2019
6
Debtors
2019 
2018 
£ 
£ 
Trade debtors
7,616 
4,910 
Other debtors
- 
5,316 
7,616 
10,226 
7
Creditors: amounts falling due within one year
2019 
2018 
£ 
£ 
Trade creditors
5,237 
3,010 
Taxes and social security
11,809 
8,199 
Other creditors
3,187 
12,701 
Accruals
168 
294 
20,401 
24,204 
8
Average number of employees
During the year the average number of employees was 1 (2018: 1).
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