Financial Statements for Prestel and Partner Ltd 31 August 2016

PRESTEL & PARTNER LTD - Company Information

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Prestel and Partner Ltd
Report and financial statements
31 August 2016



Registered No 07725683

Directors
Katja Muelheim

Secretary
Katja Muelheim

Accountants
Pavilion Finance Ltd
28 Chatham Road
Worthing
West Sussex
BN11 2SP

Registered Office
78 York Street
London
W1H 1DP

Prestel and Partner Ltd
Directors report
for the year ended 31 August 2016



The director presents her report and financial statements of the company for the year ended 31 August 2016.

Principal activity
The principal activity of the company during the period was Preparation, organisation and facilitation of Family Office conferences..

Results
The profit for the year after taxation amounted to £39,975.

Directors
The directors who served during the year were as follows:
Katja Muelheim


On behalf of the board:
Director	Katja Muelheim
Date	31 March 2017

Prestel and Partner Ltd
Accountants' report
to the director



		You consider that the company is exempt from an audit for the year ended 31 August 2016. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
		In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

		We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.




		Pavilion Finance Ltd
		Accountants

		28 Chatham Road
		Worthing
		West Sussex
		BN11 2SP

		31 March 2017

Prestel and Partner Ltd
Profit and loss account
31 August 2016




		*2016*	*2015*
	Notes	£	£


Turnover		488,614	408,447
Cost of sales		(186,048)	(183,368)

Gross profit		302,566	225,079
Distribution costs		(19,558)	(26,356)
Administrative expenses		(231,685)	(235,123)

Other Operating Income		(11,161)	(2,829)

Operating profit/(loss)	2	40,162	(39,229)
Profit/(loss) on ordinary activities before taxation		40,162	(39,229)
Tax on Profit/(loss) on ordinary activities	3	(187)	-

Profit/(loss) for the financial year		39,975	(39,229)


Statement of total recognised gains and losses
The company has no recognised gains or losses other than shown above.

Prestel and Partner Ltd
Balance Sheet
31 August 2016



			*2016*	*2015*
		*Notes*	£	£
Fixed assets
Tangible assets		4	2,012	1,073
			2,012	1,073
Current assets
Debtors		5	199,616	213,020
Cash at bank and in hand			77,726	97,959
			277,342	310,979
Creditors: amounts falling due within one year		6	(176,847)	(240,850)

Net current assets			100,495	70,129

Total assets less current liabilities			102,507	71,202

Creditors: amounts falling due
after more than one year		7	(100,648)	(109,318)

Net Assets			1,859	(38,116)

Capital and reserves
Called up share capital		8	1,000	1,000
Profit and loss account		9	859	(39,116)
Shareholders' funds			1,859	(38,116)


The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.


The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.


Signed by
Director	Katja Muelheim
Date	31 March 2017

Prestel and Partner Ltd
Notes to the financial statements
31 August 2016




1	Accounting policies
	*Basis of preparation*
	The accounts have been prepared under the historical cost convention and in accordance with applicable United Kingdom Accounting Standards for Smaller Entities (effective April 2008).

	*Turnover*
	Turnover, which is stated net of value added tax, represents the invoiced amounts of goods and services sold to third parties. Turnover is attributable to the company's continuing principal activity.

	*Statement of cash flows*
	The Company is exempt from preparing a cash flow statement requirement under FRS1.

	*Tangible fixed assets and depreciation*
	Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

	Fixtures and Fittings -- Depreciation is over 5 years at a flat rate of 20%
	Computer Equipment -- Depreciation is over 3 years at a flat rate of 33%

	The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

2	Operating profit
	This is stated after charging/(crediting)
			*2016*		*2015*
			£		£
	Foreign Exchange Gain		11,161		2,829
	Depreciation of owned fixed assets		1,126		1,365


3	Taxation on ordinary activities
			*2016*		*2015*
			£		£
	Current tax:
	Corporation tax - current period		187		-
	Total current tax		187		-

			187		-


4	Tangible fixed assets
			*Fixtures and Fittings*	*Computer Equipment*	*Total*
			£	£	£
	Cost or valuation
	At 01 September 2015		1,394	6,132	7,526
	Additions		-	2,065	2,065
	At 31 August 2016		1,394	8,197	9,591

	Depreciation
	At 01 September 2015		786	5,667	6,453
	Charged in period		283	843	1,126
	At 31 August 2016		1,069	6,510	7,579

	Net book value
	At 31 August 2016		325	1,687	2,012

	At 31 August 2015		608	465	1,073


5	Debtors
			*2016*		*2015*
			£		£
	Trade Debtors		100,243		93,332
	Other Debtors		34,441		59,589
	Prepayments		64,932		60,099
			199,616		213,020


6	Creditors: amounts falling due within one year
			*2016*		*2015*
			£		£
	Trade Creditors		427		2,566
	Accruals and deferred Income		152,174		163,855
	Other taxation and Social Security		24,246		74,429
			176,847		240,850

7	Creditors: amounts falling due after more than one year
			*2016*		*2015*
			£		£
	Bank Loans		100,648		109,318
	Debt due after more than one year		100,648		109,318

			100,648		109,318

	Maturity profile of debt due after more than one year:
	repayable after five years		100,648		109,318
			100,648		109,318



8	Share Capital	*2016*	*2016*	*2015*	*2015*
		*Number*	£	*Number*	£
	Allotted, called up and fully paid:
	Ordinary of £10.00 each	100	1,000	100	1,000
			1,000		1,000


9	Profit and loss account
			*2016*
			£
	Balance at 01 September 2015		(39,116)
	Profit for the financial year		39,975
	Balance at 31 August 2016		859

10	Related party transactions		*2016*		2015
			£		£
	Prestel and Partner International Ltd
	Owns 100% Shares In Prestel and Partner Ltd
	Unsecured, interest free loan for a fixed term ending 06.08.2024

	Amount due from (to) related party		(100,648)		(109,318)
	Provision for doubtful debt due from related party		-		-
	Amounts written off in the period		-		-