Prestige Business Forms Limited - Accounts to registrar (filleted) - small 18.2
Prestige Business Forms Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 OCTOBER 2019 TO 31 MARCH 2021 |
| FOR |
| PRESTIGE BUSINESS FORMS LIMITED |
| PRESTIGE BUSINESS FORMS LIMITED (REGISTERED NUMBER: 02120245) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 OCTOBER 2019 TO 31 MARCH 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 8 |
| PRESTIGE BUSINESS FORMS LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 OCTOBER 2019 TO 31 MARCH 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 6 Claremont Buildings |
| Claremont Bank |
| Shrewsbury |
| Shropshire |
| SY1 1RJ |
| PRESTIGE BUSINESS FORMS LIMITED (REGISTERED NUMBER: 02120245) |
| BALANCE SHEET |
| 31 MARCH 2021 |
| 31.3.21 | 30.9.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve |
| Retained earnings |
| 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. |
| PRESTIGE BUSINESS FORMS LIMITED (REGISTERED NUMBER: 02120245) |
| BALANCE SHEET - continued |
| 31 MARCH 2021 |
| 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 |
| PRESTIGE BUSINESS FORMS LIMITED (REGISTERED NUMBER: 02120245) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 OCTOBER 2019 TO 31 MARCH 2021 |
| 1. | STATUTORY INFORMATION |
| Prestige Business Forms Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention. The accounts have been prepared on a going concern basis. |
| The financial statements are presented in Sterling (£) rounded to the nearest £1. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Prestige Business Forms Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| 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. |
| Financial instruments |
| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
| Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss. |
| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party. |
| Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| PRESTIGE BUSINESS FORMS LIMITED (REGISTERED NUMBER: 02120245) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 OCTOBER 2019 TO 31 MARCH 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the period 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 period 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2019 - |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 October 2019 |
| and 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 30 September 2019 |
| PRESTIGE BUSINESS FORMS LIMITED (REGISTERED NUMBER: 02120245) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 OCTOBER 2019 TO 31 MARCH 2021 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2019 |
| and 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 30 September 2019 |
| Fair value at 31 March 2021 is represented by: |
| £ |
| Valuation in 2019 | 100,000 |
| Cost | 650,000 |
| 750,000 |
| If the investment property had not been revalued it would have been included at the following historical cost: |
| 31.3.21 | 30.9.19 |
| £ | £ |
| Cost | 650,000 | 650,000 |
| Investment property was valued on an open market basis on 31 March 2021 by the Directors . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.21 | 30.9.19 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.21 | 30.9.19 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| VAT |
| Directors' current accounts |
| Accruals and deferred income |
| PRESTIGE BUSINESS FORMS LIMITED (REGISTERED NUMBER: 02120245) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 OCTOBER 2019 TO 31 MARCH 2021 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.21 | 30.9.19 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 11,078 | 162,864 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.21 | 30.9.19 |
| £ | £ |
| Bank loan | 172,369 | 250,305 |
| The mortgages are secured on the assets of the company. |
| There are fixed and floating charges over the assets of the company in respect of the mortgages. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PRESTIGE BUSINESS FORMS LIMITED |
| The following reproduces the text of the report prepared for the directors 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 Income Statement and certain other primary statements and the Report of the Directors 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 Prestige Business Forms Limited for the period ended 31 March 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of Prestige Business Forms Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Prestige Business Forms Limited and state those matters that we have agreed to state to the Board of Directors of Prestige Business Forms Limited, as a body, 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 Prestige Business Forms Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Prestige Business Forms 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 profit of Prestige Business Forms Limited. You consider that Prestige Business Forms Limited is exempt from the statutory audit requirement for the period. |
| We have not been instructed to carry out an audit or a review of the financial statements of Prestige Business Forms 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. |
| Chartered Accountants |
| 6 Claremont Buildings |
| Claremont Bank |
| Shrewsbury |
| Shropshire |
| SY1 1RJ |