Pricenex Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 07431626

Pricenex Limited

Filleted Unaudited Abridged Financial Statements

28 February 2023

Pricenex Limited

Abridged Financial Statements

Period from 1 December 2021 to 28 February 2023

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements	1

Abridged statement of financial position	2

Notes to the abridged financial statements	4

Pricenex Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Pricenex Limited

Period from 1 December 2021 to 28 February 2023

As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the period ended 28 February 2023, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

HARPER SHELDON LIMITED Chartered accountants

Midway House Staverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL51 6TQ

30 June 2023

Pricenex Limited

Abridged Statement of Financial Position

28 February 2023

	28 Feb 23	30 Nov 21
Note	£	£

Fixed assets

Investments	4	385,500	385,500

Current assets

Cash at bank and in hand	400	400

Creditors: amounts falling due within one year	385,100	385,100
	---------	---------
Net current liabilities	384,700	384,700
	---------	---------
Total assets less current liabilities	800	800
	----	----

Capital and reserves

Called up share capital	800	800
	----	----
Shareholders funds	800	800
	----	----

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the period ending 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

Pricenex Limited

Abridged Statement of Financial Position (continued)

28 February 2023

These abridged financial statements were approved by the board of directors and authorised for issue on 30 June 2023 , and are signed on behalf of the board by:

Mrs J L Cassidy	Mr P G Cassidy
Director	Director

Company registration number: 07431626

Pricenex Limited

Notes to the Abridged Financial Statements

Period from 1 December 2021 to 28 February 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old School House, Leckhampton Road, Cheltenham, Gloucestershire, GL53 0AX, England.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Investments

	£
Cost
At 1 December 2021 and 28 February 2023	385,500
	---------
Impairment
At 1 December 2021 and 28 February 2023	–
	---------
Carrying amount
At 28 February 2023	385,500
	---------
At 30 November 2021	385,500
	---------

5. Related party transactions

The company was under the control of Mr and Mrs Cassidy throughout the current period, by virtue of their combined 100% shareholding. Included in creditors is an amount of £325,100 (2016: £325,100) owed to Piff's Elm Limited, a wholly owned subsidiary registered in England and Wales. No further transactions with related parties were undertaken such as are required to be disclosed under FRS102.