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

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

PRIDETIME LTD - Company Information

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REGISTERED NUMBER: 05290188 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

FOR

PRIDETIME LTD
PRIDETIME LTD (REGISTERED NUMBER: 05290188)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


PRIDETIME LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2022







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
Page 1
PRIDETIME LTD (REGISTERED NUMBER: 05290188)

ABRIDGED STATEMENT OF FINANCIAL POSITION
30 APRIL 2022

30.4.22 30.4.21
Notes £    £   
FIXED ASSETS
Tangible assets 4 777 914
Investment property 5 450,000 450,000
450,777 450,914

CURRENT ASSETS
Debtors 33,125 33,125
Cash at bank 12,936 19,985
46,061 53,110
CREDITORS
Amounts falling due within one year (4,941 ) (4,211 )
NET CURRENT ASSETS 41,120 48,899
TOTAL ASSETS LESS CURRENT
LIABILITIES
491,897
499,813

CREDITORS
Amounts falling due after more than one year 6 (260,732 ) (262,503 )
NET ASSETS 231,165 237,310

CAPITAL AND RESERVES
Called up share capital 7 1 1
Revaluation reserve 8 161,996 161,996
Retained earnings 8 69,168 75,313
SHAREHOLDERS' FUNDS 231,165 237,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 notes form part of these financial statements

Page 2 continued...
PRIDETIME LTD (REGISTERED NUMBER: 05290188)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2022


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 2022 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 20 December 2022 and were signed by:





J Herzka - Director


The notes form part of these financial statements

Page 3
PRIDETIME LTD (REGISTERED NUMBER: 05290188)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 (2021 - NIL).

Page 4 continued...
PRIDETIME LTD (REGISTERED NUMBER: 05290188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2021
and 30 April 2022 10,879
DEPRECIATION
At 1 May 2021 9,965
Charge for year 137
At 30 April 2022 10,102
NET BOOK VALUE
At 30 April 2022 777
At 30 April 2021 914

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2021
and 30 April 2022 450,000
NET BOOK VALUE
At 30 April 2022 450,000
At 30 April 2021 450,000

The fair value of investment properties were assessed to be unchanged by the director. The fair value was determined using open market valuation method. The director does not have a formal qualification but considerable experience in property market to ascertain the fair value with sufficient level of confidence.

Fair value at 30 April 2022 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

Other creditors include £10,000 received under Bounceback Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

Page 5 continued...
PRIDETIME LTD (REGISTERED NUMBER: 05290188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.22 30.4.21
value: £    £   
1 Ordinary £1 1 1

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2021 75,313 161,996 237,309
Profit for the year 12,345 12,345
Dividends (18,490 ) (18,490 )
At 30 April 2022 69,168 161,996 231,164

Page 6