ACCOUNTS - Final Accounts

PRISM SECURITIES LIMITED - Company Information

Registered number: 06921379

PRISM SECURITIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020


PRISM SECURITIES LIMITED

CONTENTS

	Page
Balance sheet	1
Notes to the financial statements	2 - 3


PRISM SECURITIES LIMITED REGISTERED NUMBER:06921379

BALANCE SHEET

AS AT 30 JUNE 2020

		2020		2019
Note		£		£

Fixed assets
Investments	4	10,000	10,000
Current assets
Debtors	5	391,215	391,215

Net assets		401,215	401,215

Capital and reserves
Called up share capital	10,000	10,000
Share premium account	278,782	278,782
Profit and loss account	112,433	112,433
	401,215	401,215

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 the Companies Act 2006.

The director acknowledges his 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 on 21 June 2021.

N C Dancer

Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1


PRISM SECURITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

1.	General information

Prism Securities Limited (the Company) is a private company limited by shares, incorporated and domiciled in England. The address of its registered office is Raydale Barn, Sandy Lane, Fittleworth, West Sussex, RH20 1EH, which is also the address of its principal place of business.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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

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.

Employees

The average monthly number of employees, including directors, during the year was 1 (2019 - 1).

Page 2


PRISM SECURITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 1 July 2019	10,000
	At 30 June 2020	10,000

Debtors

					2020	2019
					£	£


Amounts owed by group undertaking	391,215	391,215

Page 3