Prestige Decor Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07511266 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Prestige Decor Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

V Clift

N Clift

REGISTERED OFFICE:

1 Stanyards Courtyard

Stanyards Farm

Chertsey Road

Chobham

Surrey

GU24 8JE

REGISTERED NUMBER:

07511266 (England and Wales)

ACCOUNTANTS:

Ahmad York Limited

Chartered Certified Accountants

1 Stanyards Courtyard

Stanyards Farm

Chertsey Road

Chobham

Surrey

GU24 8JE

FIXED ASSETS

Tangible assets

4

30,266

40,318

CURRENT ASSETS

Debtors

206,882

215,444

Cash at bank

46,901

24,737

253,783

240,181

CREDITORS

Amounts falling due within one year

211,192

252,105

NET CURRENT ASSETS/(LIABILITIES)

42,591

(11,924

)

TOTAL ASSETS LESS CURRENT LIABILITIES

72,857

28,394

CREDITORS

Amounts falling due after more than one year

(8,539

)

(20,659

)

PROVISIONS FOR LIABILITIES

(5,751

)

(7,660

)

NET ASSETS

58,567

75

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

58,566

74

SHAREHOLDERS' FUNDS

58,567

75

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 12 November 2019 and were signed on its behalf by:

V Clift - Director

1.	STATUTORY INFORMATION

Prestige Decor 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

The company only enters into basic financial instrument transactions in accordance with Section 11. Financial

assets and liabilities are measured at cost and financial assets are assessed at the end of each reporting period for

objective evidence of impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

and 31 March 2019

76,913

DEPRECIATION

At 1 April 2018

36,595

Charge for year

10,052

At 31 March 2019

46,647

NET BOOK VALUE

At 31 March 2019

30,266

At 31 March 2018

40,318

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2018

and 31 March 2019

68,568

DEPRECIATION

At 1 April 2018

32,534

Charge for year

9,009

At 31 March 2019

41,543

NET BOOK VALUE

At 31 March 2019

27,025

At 31 March 2018

36,034

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

31.3.19

31.3.18

£

£

V Clift

Balance outstanding at start of year

112,837

74,837

Amounts advanced

-

38,000

Amounts repaid

(26,805

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

86,032

112,837