PRESTIGEWORLD_LIMITED - Accounts

PRESTIGEWORLD LIMITED - Company Information

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Company Registration No. 05645310 (England and Wales)

PRESTIGEWORLD LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

PRESTIGEWORLD LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PRESTIGEWORLD LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Investments

845,522

Current assets

Debtors

2,048

Creditors: amounts falling due within one year

(35,016)

(30,952)

Net current liabilities

(32,968)

(28,904)

Total assets less current liabilities

812,554

816,618

Creditors: amounts falling due after more than one year

(914,013)

(995,752)

(101,459)

(179,134)

Capital and reserves

Called up share capital

Profit and loss account

(101,461)

(179,136)

Shareholders' funds

(101,459)

(179,134)

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 14 July 2016

Mr A.P. Bousfield

Director

Company Registration No. 05645310

PRESTIGEWORLD LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.3

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.4

Going Concern

The financial statements have been prepared on a going concern basis on the assumption that continuing support will be made available from the shareholders as and when required.

1.5

Basis of consolidation

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Fixed assets

Investments

Cost

At 1 January 2015 & at 31 December 2015

845,522

At 31 December 2014

845,522

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Spotless Homes S.L.

Spain

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Spotless Homes S.L.

Property Investment

552,535

(17,582)

PRESTIGEWORLD LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary Shares of £1 each

Ultimate parent company

In the opinion of the directors the ultimate controlling party is the Upper Zambezi Trust.