Pridetime Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05290188 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

PRIDETIME LTD

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J Herzka

SECRETARY:

A Freund

REGISTERED OFFICE:

56 Chardmore Road

London

London

N16 6JH

REGISTERED NUMBER:

05290188 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

1,076

1,266

Investment property

5

450,000

450,000

451,076

451,266

CURRENT ASSETS

Debtors

33,125

33,125

Cash at bank

12,228

12,839

45,353

45,964

CREDITORS

Amounts falling due within one year

(6,083

)

(5,954

)

NET CURRENT ASSETS

39,270

40,010

TOTAL ASSETS LESS CURRENT LIABILITIES

490,346

491,276

CREDITORS

Amounts falling due after more than one year

6

(252,503

)

(252,503

)

NET ASSETS

237,843

238,773

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

7

161,996

161,996

Retained earnings

75,846

76,776

SHAREHOLDERS' FUNDS

237,843

238,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 April 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 December 2020 and were signed by:

J Herzka - Director

1.	STATUTORY INFORMATION

Pridetime Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2019

and 30 April 2020

10,879

DEPRECIATION

At 1 May 2019

9,613

Charge for year

190

At 30 April 2020

9,803

NET BOOK VALUE

At 30 April 2020

1,076

At 30 April 2019

1,266

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2019

and 30 April 2020

450,000

NET BOOK VALUE

At 30 April 2020

450,000

At 30 April 2019

450,000

Fair value at 30 April 2020 is represented by:

£

Valuation in 2016

91,996

Valuation in 2017

70,000

Cost

288,004

450,000

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.4.20

30.4.19

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

252,503

252,503

7.

RESERVES

Revaluation

reserve

£

At 1 May 2019

and 30 April 2020

161,996