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PRIORITY ROCKS LTD - Company Information

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Priority Rocks Ltd

Registered Number:08308992

For the year ended 31 July 2023

England and Wales

Unaudited Financial Statements

For the year ended 31 July 2023

Priority Rocks Ltd

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Registered Number :

08308992

As at 31 July 2023

Priority Rocks Ltd

Statement of Financial Position

2022

2023

Notes

Fixed assets

Property, plant and equipment

2,979

3,974

2,979

3,974

Current assets

Trade and other receivables

876

154,169

Cash and cash equivalents

193,644

194,520

154,169

Trade and other payables: amounts falling due within one year

(48,801)

(49,724)

105,368

144,796

Net current assets

Total assets less current liabilities

147,775

109,342

147,775

Net assets

109,342

Capital and reserves

Called up share capital

100

Retained earnings

147,675

109,242

147,775

109,342

Shareholders' funds

For the year ended 31 July 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Mr S L Howie Director

These financial statements were approved and authorised for issue by the Board on 29 February 2024 and were signed by:

The notes form part of these financial statements

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For the year ended 31 July 2023

Priority Rocks Ltd

Notes to the Financial Statements

Statutory Information

Priority Rocks Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number 08308992.

Registered address:

64 Kenwood Drive

Beckenham

BR3 6QZ

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have

been prepared under the historical costs convention as modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery

25% Reducing balance

Computer equipment

25% Reducing balance

Fixtures and fittings

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

2. Property, plant and equipment

Total

Computer

equipment

Fixtures and

fittings

Plant and

machinery

Cost or valuation

At 01 August 2022

5,300

850

500

3,950

At 31 July 2023

3,950

500

850

5,300

Provision for depreciation and impairment

At 01 August 2022

1,326

213

125

988

Charge for year

995

160

741

At 31 July 2023

2,321

373

219

1,729

At 31 July 2023

Net book value

2,221

281

477

2,979

At 31 July 2022

2,962

375

637

3,974

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For the year ended 31 July 2023

Priority Rocks Ltd

Notes to the Financial Statements Continued

3. Trade and other receivables

2022

2023

Trade debtors

876

4. Trade and other payables: amounts falling due within one year

2022

2023

Trade creditors

114

Taxation and social security

20,424

16,055

Other creditors

29,276

32,632

49,724

48,801

5. Average number of persons employed

During the year the average number of employees was 1 (2022 : 1)

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