Prandial Limited - Accounts to registrar (filleted) - small 18.2
Prandial Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2019 |
for |
PRANDIAL LIMITED |
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447) |
Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PRANDIAL LIMITED |
Company Information |
for the Year Ended 31 December 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447) |
Balance Sheet |
31 December 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Cash at bank |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447) |
Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
1. | STATUTORY INFORMATION |
Prandial Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investment in subsidiaries have been carried at initial cost, however during the year the directors thought it to be appropriate to have these investments valued. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2018 - NIL). |
4. | FIXED ASSET INVESTMENTS |
2019 | 2018 |
£ | £ |
Shares in group undertakings |
Other investments not loans |
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
4. | FIXED ASSET INVESTMENTS - continued |
Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1 January 2019 |
Revaluations | ( |
) |
At 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
At 31 December 2018 |
Cost or valuation at 31 December 2019 is represented by: |
Shares in |
group |
undertakings |
£ |
Valuation in 2015 | (475,726 | ) |
Valuation in 2016 | 348,324 |
Valuation in 2017 | 108,258 |
Valuation in 2018 | 29,840 |
Valuation in 2019 | (135,015 | ) |
Cost | 2,679,930 |
2,555,611 |
Fixed asset investments have been carried at initial cost, however during the year the directors thought it to be appropriate to have these investments valued. Such valuation was deemed appropriate in order to show investments at fair value with gains and losses recognised in the profit and loss account in accordance with Section 1A of FRS102. |
Investments (neither listed nor unlisted) were as follows: |
2019 | 2018 |
£ | £ |
Capital Contribution | 20,843 | 20,843 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Amounts owed to group undertakings |
Amounts owed to participating interests | 3,387 | 3,387 |
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
6. | POST BALANCE SHEET EVENTS |
The global pandemic of the coronavirus (COVID 19), has seen countries all around the world having to lock-down cities and surrounding communities in order to contain the disease and protect their healthcare systems. Consequently these necessary actions have seen an economic slowdown across all global markets. |
The directors recognise that the global pandemic is not over and that the prevailing situation will continue to effect the economy in the immediate term, which may impact upon the valuation of investments held. This situation will continue to be assessed by Directors so that any financial burden or impact can be quickly identified in order to protect the assets of the Company. In medium to long term the outlook is that economies will recover and that the directors will continue to hold the investments on these terms and for the future. |
7. | ULTIMATE CONTROLLING PARTY |
The immediate parent company is Bowerbird Holdings Limited, a company registered in the British Virgin Islands and wholly owned by the Creation Trust. |
The Ultimate Controlling Party is Liberation Management Limited as trustee of the Creation Trust, a trust based in Guernsey. |
8. | GOING CONCERN |
The global pandemic of the coronavirus ("COVID-19"), has seen worldwide disruption and an economic slowdown that has impacted upon the markets across all industries. While noting that the ultimate effects may be difficult to quantify at this time, the directors do not underestimate the current situation and have engaged in an on-going cashflow analysis and forecasting, to understand the impact that COVID-19 may have on the Company's operation. |
The Board continues to receive the necessary support from the ultimate beneficial owner, to ensure that the Company can continue to settle its liabilities as they fall due and accordingly prepare these financial statements on a going concern basis. |