Company Registration No. 09984144 (England and Wales)
Prestige Midlands Limited
Unaudited accounts
for the year ended 28 February 2023
Prestige Midlands Limited
Unaudited accounts
Contents
Prestige Midlands Limited
Company Information
for the year ended 28 February 2023
Company Number
09984144 (England and Wales)
Registered Office
Suite 31 Stafford Court
178 Stafford Street
Wolverhampton
WV1 1NA
Accountants
Nelly's Accountants
71 Woodland Avenue
Tettenhall Wood
Wolverhampton
West Midlands
WV6 8ND
Prestige Midlands Limited
Statement of financial position
as at 28 February 2023
Cash at bank and in hand
537,352
591,182
Creditors: amounts falling due within one year
(192,999)
(173,829)
Net current assets
378,156
433,810
Total assets less current liabilities
379,624
433,895
Creditors: amounts falling due after more than one year
(65,383)
(94,589)
Provisions for liabilities
Net assets
313,962
339,306
Called up share capital
2
2
Profit and loss account
313,960
339,304
Shareholders' funds
313,962
339,306
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 April 2023 and were signed on its behalf by
Sam Key
Director
Company Registration No. 09984144
Prestige Midlands Limited
Notes to the Accounts
for the year ended 28 February 2023
Prestige Midlands Limited is a private company, limited by shares, registered in England and Wales, registration number 09984144. The registered office is Suite 31 Stafford Court, 178 Stafford Street, Wolverhampton, WV1 1NA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Prestige Midlands Limited
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Fixtures & fittings
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
53,383
78,597
Loans from directors
372
9,354
6
Creditors: amounts falling due after more than one year
2023
2022
7
Deferred taxation
2023
2022
Accelerated capital allowances
279
-
Charged to the profit and loss account
279
-
Provision at end of year
279
-
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Prestige Midlands Limited
Notes to the Accounts
for the year ended 28 February 2023
9
Average number of employees
During the year the average number of employees was 8 (2022: 8).
