Prestige Vale Investments & Real Estate Limited Filleted accounts for Companies House (small and micro)

PRESTIGE VALE INVESTMENTS & REAL ESTATE LIMITED - Company Information

4 false false false false false false false false false true false false false false false false No description of principal activity 2021-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 10129478 2021-05-01 2022-04-30 10129478 2022-04-30 10129478 2021-04-30 10129478 2020-05-01 2021-04-30 10129478 2021-04-30 10129478 bus:Director1 2021-05-01 2022-04-30 10129478 core:WithinOneYear 2022-04-30 10129478 core:WithinOneYear 2021-04-30 10129478 core:AfterOneYear 2022-04-30 10129478 core:AfterOneYear 2021-04-30 10129478 core:ShareCapital 2022-04-30 10129478 core:ShareCapital 2021-04-30 10129478 core:RetainedEarningsAccumulatedLosses 2022-04-30 10129478 core:RetainedEarningsAccumulatedLosses 2021-04-30 10129478 bus:SmallEntities 2021-05-01 2022-04-30 10129478 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 10129478 bus:AbridgedAccounts 2021-05-01 2022-04-30 10129478 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 10129478 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30

COMPANY REGISTRATION NUMBER: 10129478

Prestige Vale Investments & Real Estate Limited

Filleted Unaudited Abridged Financial Statements

30 April 2022

Prestige Vale Investments & Real Estate Limited

Abridged Financial Statements

Year ended 30 April 2022

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

Prestige Vale Investments & Real Estate Limited

Abridged Statement of Financial Position

30 April 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	1,236,813	1,200,489

Current assets

Debtors	29,649	17,271
Cash at bank and in hand	31,517	71,775
	--------	--------
	61,166	89,046

Creditors: amounts falling due within one year	60,905	32,333
	--------	--------
Net current assets	261	56,713
	------------	------------
Total assets less current liabilities	1,237,074	1,257,202

Creditors: amounts falling due after more than one year	1,158,553	1,161,164
	------------	------------
Net assets	78,521	96,038
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	78,421	95,938
	--------	--------
Shareholders funds	78,521	96,038
	--------	--------

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 year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges his 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 year ending 30 April 2022 in accordance with Section 444(2A) of the Companies Act 2006.

Prestige Vale Investments & Real Estate Limited

Abridged Statement of Financial Position (continued)

30 April 2022

These abridged financial statements were approved by the board of directors and authorised for issue on 30 September 2022 , and are signed on behalf of the board by:

Mr Zaid Al Juboori
Director

Company registration number: 10129478

Prestige Vale Investments & Real Estate Limited

Notes to the Abridged Financial Statements

Year ended 30 April 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Bannister Close, Slough, United Kingdom, SL3 7DP.

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 financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2021: 4 ).

5. Tangible assets

	£
Cost
At 1 May 2021	1,200,869
Additions	37,014
	------------
At 30 April 2022	1,237,883
	------------
Depreciation
At 1 May 2021	380
Charge for the year	690
	------------
At 30 April 2022	1,070
	------------
Carrying amount
At 30 April 2022	1,236,813
	------------
At 30 April 2021	1,200,489
	------------

6. Director's advances, credits and guarantees

At year end the company owed Mr Z Al Juboori £1,120,262 (2021: £1,111,164) in interest free loans.

7. Related party transactions

There were no dividends paid to the directors during the year.