P.R.N. Capital Limited - Accounts to registrar (filleted) - small 18.2

P.R.N. Capital Limited - Accounts to registrar (filleted) - small 18.2

P.R.N. CAPITAL LIMITED - Company Information

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P.R.N. Capital Limited

Financial Statements for the Year Ended 31 July 2020






P.R.N. Capital Limited

Company Information
for the Year Ended 31 July 2020







DIRECTORS: C P Nessbert
S J Jolly





SECRETARY: L C Nessbert





REGISTERED OFFICE: Hollybush
Bridge Road
Old St Mellons
Cardiff
CF3 6UY





REGISTERED NUMBER: 10086128 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA
1
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
P.R.N. Capital Limited


The following reproduces the text of the report prepared for the directors in respect of the
company's annual unaudited financial statements. In accordance with the Companies Act
2006, the company is only required to file a Balance Sheet. Readers are cautioned that the
Income Statement and certain other primary statements and the Report of the Directors are
not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for
your approval the financial statements of P.R.N. Capital Limited for the year ended 31 July 2020
which comprise the Profit & Loss Account, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of P.R.N. Capital Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P.R.N. Capital Limited and state those matters that we have agreed to state to the Board of Directors of P.R.N. Capital Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P.R.N. Capital Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P.R.N. Capital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P.R.N. Capital Limited. You consider that P.R.N. Capital 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 financial statements of P.R.N. Capital 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 financial statements.






BPU Limited
Chartered Accountants


30 November 2020

This page does not form part of the statutory financial statements

2
P.R.N. Capital Limited (Registered number: 10086128)

Balance Sheet
31 July 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 457 428
Investment property 4 2,378,872 2,378,872
2,379,329 2,379,300

CURRENT ASSETS
Debtors 5 343,613 414,461
Cash at bank 56,951 -
400,564 414,461
CREDITORS
Amounts falling due within one year 6 246,102 461,895
NET CURRENT ASSETS/(LIABILITIES) 154,462 (47,434 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,533,791
2,331,866

CREDITORS
Amounts falling due after more than
one year
7
873,944
678,071
NET ASSETS 1,659,847 1,653,795

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,659,547 1,653,495
SHAREHOLDERS' FUNDS 1,659,847 1,653,795

The notes form part of these financial statements

3
P.R.N. Capital Limited (Registered number: 10086128)

Balance Sheet - continued
31 July 2020


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and
387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with
the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The 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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on
30 November 2020 and were signed on its behalf by:





C P Nessbert - Director


The notes form part of these financial statements

4
P.R.N. Capital Limited (Registered number: 10086128)

Notes to the Financial Statements
for the Year Ended 31 July 2020


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover generated from the company's principle activity of property rental represents the
net invoiced value of rent receivable, excluding value added tax and discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit
arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit &
Loss Account, except to the extent that it relates to items recognised in other comprehensive
income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that
have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in
periods different from those in which they are recognised in financial statements. Deferred
tax is measured using tax rates and laws that have been enacted or substantively enacted
by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it
is probable that they will be recovered against the reversal of deferred tax liabilities or other
future taxable profits.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

5
P.R.N. Capital Limited (Registered number: 10086128)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2020


3. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 August 2019 749
Additions 266
At 31 July 2020 1,015
DEPRECIATION
At 1 August 2019 321
Charge for year 237
At 31 July 2020 558
NET BOOK VALUE
At 31 July 2020 457
At 31 July 2019 428

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2019
and 31 July 2020 2,378,872
NET BOOK VALUE
At 31 July 2020 2,378,872
At 31 July 2019 2,378,872

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 45,100 18,600
Other debtors & prepayments 298,513 395,861
343,613 414,461

6
P.R.N. Capital Limited (Registered number: 10086128)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2020


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 75,189 328,744
Taxes & social security costs 37,885 43,561
Other creditors & accruals 133,028 89,590
246,102 461,895

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2020 2019
£    £   
Bank loans 873,944 678,071

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 66,721 87,674

8. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Bank loans 949,133 996,970

The bank loans are provided in the form of mortgages and are secured over the properties
to which they relate.

7