Providential Investments Limited - Accounts to registrar (filleted) - small 23.2.5

Providential Investments Limited - Accounts to registrar (filleted) - small 23.2.5

PROVIDENTIAL INVESTMENTS LTD - Company Information

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REGISTERED NUMBER: 07303521 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

PROVIDENTIAL INVESTMENTS LIMITED
PROVIDENTIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 07303521)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

PROVIDENTIAL INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: R A Pritchard





SECRETARY:





REGISTERED OFFICE: Downs Court
The Downs
Altrincham
Cheshire
WA14 2QD





REGISTERED NUMBER: 07303521 (England and Wales)





ACCOUNTANTS: Walker Begley Limited
Chartered Accountants
207 Knutsford Road
Grappenhall
Warrington
Cheshire
WA4 2QL
Page 1
PROVIDENTIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 07303521)

ABRIDGED BALANCE SHEET
31 JULY 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 180,000 180,000
Investment property 5 188,476 188,476
368,476 368,476

CURRENT ASSETS
Debtors 229,529 229,308
Cash at bank 739 4,102
230,268 233,410
CREDITORS
Amounts falling due within one year 100,952 101,551
NET CURRENT ASSETS 129,316 131,859
TOTAL ASSETS LESS CURRENT
LIABILITIES
497,792
500,335

CREDITORS
Amounts falling due after more than one
year
6
628,525
628,525
NET LIABILITIES (130,733 ) (128,190 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (130,734 ) (128,191 )
SHAREHOLDERS' FUNDS (130,733 ) (128,190 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

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 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...
PROVIDENTIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 07303521)

ABRIDGED BALANCE SHEET - continued
31 JULY 2023


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 Income Statement and an abridged Balance Sheet for the year ended 31 July 2023 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 19 April 2024 and were signed by:





R A Pritchard - Director


The notes form part of these financial statements

Page 3
PROVIDENTIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 07303521)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Providential Investments 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Page 4 continued...
PROVIDENTIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 07303521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 August 2022
and 31 July 2023 180,000
NET BOOK VALUE
At 31 July 2023 180,000
At 31 July 2022 180,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 188,476
NET BOOK VALUE
At 31 July 2023 188,476
At 31 July 2022 188,476

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31/7/23 31/7/22
£    £   
Repayable by instalments
Other loans more 5yrs instal 628,525 628,525

7. SECURED DEBTS

The following secured debts are included within creditors:

31/7/23 31/7/22
£    £   
Other loans 726,025 726,025

The other loan is secured on an investment property.

8. RELATED PARTY DISCLOSURES

The director Mr R Pritchard is also a director of First Direct Finance Limited, Consumer Reclaim Limited and Red Rock Properties Limited. At 31 July 2023 the company is owed £69,392 (2022 £69,392) to First Direct Finance Limited and £159,107 (2022 £41,902) to Consumer Reclaim Limited. The company is owed £1,030 (2022 £970) by Red Rock Properties Limited.

9. ULTIMATE CONTROLLING PARTY

The Director R Pritchard controls the company by virtue of his beneficial interest in 100% of the issued share capital.

Page 5
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PROVIDENTIAL INVESTMENTS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Providential Investments Limited for the year ended 31 July 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Providential Investments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Providential Investments Limited and state those matters that we have agreed to state to the director of Providential Investments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Providential Investments Limited and its director for our work or for this report.

It is your duty to ensure that Providential Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Providential Investments Limited. You consider that Providential Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Providential Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Walker Begley Limited
Chartered Accountants
207 Knutsford Road
Grappenhall
Warrington
Cheshire
WA4 2QL


19 April 2024

This page does not form part of the statutory financial statements

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