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

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

PRESTIGE DECOR LIMITED - Company Information

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REGISTERED NUMBER: 07511266 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Prestige Decor Limited
Prestige Decor Limited (Registered number: 07511266)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Prestige Decor Limited

Company Information
for the Year Ended 31 March 2020







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
Page 1
Prestige Decor Limited (Registered number: 07511266)

Abridged Statement of Financial Position
31 March 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,810 30,266

CURRENT ASSETS
Debtors 368,388 206,882
Cash at bank 28,523 46,901
396,911 253,783
CREDITORS
Amounts falling due within one year 218,690 211,192
NET CURRENT ASSETS 178,221 42,591
TOTAL ASSETS LESS CURRENT
LIABILITIES
182,031
72,857

CREDITORS
Amounts falling due after more than one
year
-
(8,539
)

PROVISIONS FOR LIABILITIES (724 ) (5,751 )
NET ASSETS 181,307 58,567

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 181,306 58,566
SHAREHOLDERS' FUNDS 181,307 58,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 notes form part of these financial statements

Page 2 continued...
Prestige Decor Limited (Registered number: 07511266)

Abridged Statement of Financial Position - continued
31 March 2020


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 2020 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 Board of Directors and authorised for issue on 30 March 2021 and were signed on its behalf by:





V Clift - Director


The notes form part of these financial statements

Page 3
Prestige Decor Limited (Registered number: 07511266)

Notes to the Financial Statements
for the Year Ended 31 March 2020

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 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.

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.

Page 4 continued...
Prestige Decor Limited (Registered number: 07511266)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - 1 ).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2019 76,913
Additions 1,838
Disposals (68,568 )
At 31 March 2020 10,183
DEPRECIATION
At 1 April 2019 46,647
Charge for year 1,269
Eliminated on disposal (41,543 )
At 31 March 2020 6,373
NET BOOK VALUE
At 31 March 2020 3,810
At 31 March 2019 30,266

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

Totals
£   
COST
At 1 April 2019 68,568
Disposals (68,568 )
At 31 March 2020 -
DEPRECIATION
At 1 April 2019 41,543
Eliminated on disposal (41,543 )
At 31 March 2020 -
NET BOOK VALUE
At 31 March 2020 -
At 31 March 2019 27,025

Page 5 continued...
Prestige Decor Limited (Registered number: 07511266)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20 31.3.19
£    £   
V Clift
Balance outstanding at start of year 86,032 112,837
Amounts repaid - (26,805 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 86,032

Page 6