ACCOUNTS - Final Accounts

PRP COMMUNICATIONS LIMITED - Company Information

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Registered number: 08832952

PRP COMMUNICATIONS LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2022

PRP COMMUNICATIONS LIMITED

REGISTERED NUMBER: 08832952

BALANCE SHEET

AS AT 31 JANUARY 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		1,140		733
			1,140		733
Current assets
Debtors: amounts falling due within one year	5	900		12,035
Cash at bank and in hand	6	21,225		7,680
		22,125		19,715
Creditors: amounts falling due within one year	7	(13,634)		(5,842)
Net current assets			8,491		13,873
Total assets less current liabilities			9,631		14,606
Creditors: amounts falling due after more than one year	8		-		(13,500)

Net assets			9,631		1,106

Capital and reserves
Called up share capital	100	100
Profit and loss account	9,531	1,006
	9,631	1,106

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PRP COMMUNICATIONS LIMITED

REGISTERED NUMBER: 08832952

BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2022

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 her 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 by:

................................................

J Wantman

Director

Date: 18 October 2022

The notes on pages 3 to 6 form part of these financial statements.

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PRP COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

1.	General information

PRP Communications Limited is a private company, limited by shares. The company is incorporated in England and the address of its registered office is Aston House, Cornwall Avenue, London, N3 1LF. The registered number is 08832952.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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PRP COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33%

Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

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.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

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PRP COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 February 2021	1,099
	Additions	1,159
	At 31 January 2022	2,258
	Depreciation
	At 1 February 2021	366
	Charge for the year on owned assets	752
	At 31 January 2022	1,118
	Net book value
	At 31 January 2022	1,140
	At 31 January 2021	733

Debtors

					2022	2021
					£	£


Trade debtors	900	3,360
Other debtors	-	8,675
	900	12,035

6.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	21,225	7,680
	21,225	7,680

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PRP COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

7.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Corporation tax	2,327	4,378
Other creditors	9,607	-
Accruals and deferred income	1,700	1,464
	13,634	5,842

8.	Creditors: Amounts falling due after more than one year
		2022	2021
		£	£

Bank loans	-	13,500
	-	13,500

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