Prandial Limited - Accounts to registrar (filleted) - small 18.2

Prandial Limited - Accounts to registrar (filleted) - small 18.2

PRANDIAL LIMITED - Company Information

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REGISTERED NUMBER: 04998447 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2020

for

PRANDIAL LIMITED
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447)

Contents of the Financial Statements
for the Year Ended 31 December 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRANDIAL LIMITED

Company Information
for the Year Ended 31 December 2020







DIRECTORS: A Relph
S Graham
N C McGall
P E O'Neill





SECRETARY: Goodwood Services Limited





REGISTERED OFFICE: NJHCo
Suite 1, The Sanctuary
23 Oak Hill Grove
Surbiton
Surrey
KT6 6DU





REGISTERED NUMBER: 04998447 (England and Wales)





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PRANDIAL LIMITED (REGISTERED NUMBER: 04998447)

Balance Sheet
31 December 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,729,666 2,576,454

CURRENT ASSETS
Cash at bank 12 12
NET CURRENT ASSETS 12 12
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,729,678
2,576,466

CREDITORS
Amounts falling due after more than one
year
5
2,832,205
2,676,289
NET LIABILITIES (102,527 ) (99,823 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (102,528 ) (99,824 )
SHAREHOLDERS' FUNDS (102,527 ) (99,823 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2021 and were signed on its behalf by:





P E O'Neill - Director


The notes form part of these financial statements

2
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447)

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


1. STATUTORY INFORMATION

Prandial Limited 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.

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 (2019 - NIL).

4. FIXED ASSET INVESTMENTS

2020 2019
£    £   
Shares in group undertakings 2,708,823 2,555,611
Other investments not loans 20,843 20,843
2,729,666 2,576,454

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PRANDIAL LIMITED (REGISTERED NUMBER: 04998447)

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


4. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2020 2,555,611
Revaluations 153,212
At 31 December 2020 2,708,823
NET BOOK VALUE
At 31 December 2020 2,708,823
At 31 December 2019 2,555,611

Cost or valuation at 31 December 2020 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 )
Valuation in 2020 153,212
Cost 2,679,930
2,708,823

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:
2020 2019
£    £   
Capital Contribution 20,843 20,843

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Amounts owed to group undertakings 2,828,818 2,672,902
Amounts owed to participating interests 3,387 3,387
2,832,205 2,676,289

4
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447)

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


6. POST BALANCE SHEET EVENTS

The first wave of the global pandemic of COVID-19 saw 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 resulted in an economic slowdown across all global markets. As vaccines were approved and began to be made available countries were able to lift lockdown restrictions, which helped markets to recover from the initial impacts of the pandemic. The pandemic sadly remains fluid and further waves of the virus has seen areas having to re-enter lockdown, which has consequently put further pressure on their economies.

The directors recognise that the global pandemic is not over and that the prevailing situation will continue to effect businesses that are considered non-essential for the purpose of fighting the disease and supporting populations that are in lock down. The extent of the economic impact that this will have on the Company is not underestimated and the directors are taking the necessary steps to receive updates and assess the Company's assets and investments so that any financial burden or impact can be quickly identified during this unprecedented time. The investments that have been made are for medium to long term growth and it is anticipated that any short term losses in valuation will be recovered in the future in conjunction with the economy.

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 slow down 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 continue to review the impact that COVID-19 may have on the Company's continuing operations.

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