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 2021

for

PRANDIAL LIMITED
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447)

Contents of the Financial Statements
for the Year Ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRANDIAL LIMITED

Company Information
for the Year Ended 31 December 2021







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





SECRETARY: Goodwood Services Limited





REGISTERED OFFICE: 4th Floor
46 James Street
London
W1U 1EZ





REGISTERED NUMBER: 04998447 (England and Wales)





1
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investments 4 605,709 2,729,666

CURRENT ASSETS
Cash at bank - 12
NET CURRENT ASSETS - 12
TOTAL ASSETS LESS CURRENT
LIABILITIES
605,709
2,729,678

CREDITORS
Amounts falling due after more than one
year
5
2,633,328
2,832,205
NET LIABILITIES (2,027,619 ) (102,527 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (2,027,620 ) (102,528 )
SHAREHOLDERS' FUNDS (2,027,619 ) (102,527 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 28 December 2022 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 2021


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 (2020 - NIL).

4. FIXED ASSET INVESTMENTS

2021 2020
£    £   
Shares in group undertakings 584,866 2,708,823
Other investments not loans 20,843 20,843
605,709 2,729,666

3
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


4. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2021 2,708,823
Revaluations (2,123,957 )
At 31 December 2021 584,866
NET BOOK VALUE
At 31 December 2021 584,866
At 31 December 2020 2,708,823

Cost or valuation at 31 December 2021 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
Valuation in 2021 (2,123,957 )
Cost 2,679,930
584,866

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 with the gains and losses recognised in the profit and loss account in accordance with Section 1A of FRS102.

The net book value of Howland Estates SL at 31 December 20212 is €721,607 (£605,709).

Investments (neither listed nor unlisted) were as follows:
2021 2020
£    £   
Capital Contribution 20,843 20,843

4
PRANDIAL LIMITED (REGISTERED NUMBER: 04998447)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Amounts owed to group undertakings 2,629,941 2,828,818
Amounts owed to participating interests 3,387 3,387
2,633,328 2,832,205

6. 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.

7. GOING CONCERN

These financial statements have been prepared on a going concern basis because the Creation Trust has given its assurance that sufficient funds will be available to enable the company to continue in business for the foreseeable future.

5