Prestige Estates Limited - Accounts to registrar (filleted) - small 18.2

Prestige Estates Limited - Accounts to registrar (filleted) - small 18.2

PRESTIGE ESTATES LIMITED - Company Information

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REGISTERED NUMBER: 03214895 (England and Wales)



















PRESTIGE ESTATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018






PRESTIGE ESTATES LIMITED (REGISTERED NUMBER: 03214895)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


PRESTIGE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2018







DIRECTOR: Mr J Lipschitz





SECRETARY: Mrs J Lipschitz





REGISTERED OFFICE: 46 Olinda Road
London
N16 6TL





REGISTERED NUMBER: 03214895 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS
Page 1
PRESTIGE ESTATES LIMITED (REGISTERED NUMBER: 03214895)

BALANCE SHEET
30 JUNE 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 152,360 152,360

CURRENT ASSETS
Debtors 6 369,096 365,384
Cash at bank 5,257 447
374,353 365,831
CREDITORS
Amounts falling due within one year 7 424,885 419,795
NET CURRENT LIABILITIES (50,532 ) (53,964 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
101,828
98,396

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 101,826 98,394
101,828 98,396

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 4 February 2019 and were signed by:





Mr J Lipschitz - Director


The notes on pages 3 to 4 form part of these financial statements

Page 2
PRESTIGE ESTATES LIMITED (REGISTERED NUMBER: 03214895)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

1. STATUTORY INFORMATION

Prestige Estates Limited is a private company, limited by shares , registered in England and Wales.
The company's registered number and registered office address can be found on the Company
Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified to include
investment properties measured at fair value through profit or loss.

Significant judgements and estimates
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.

Turnover
Turnover is recognised at the fair value of the consideration receivable in respect of services provided
in the normal course of business. The turnover of the company is represented by rents and charges
receivable in respect of the company's investment portfolio. Rental income is accounted for on an
accruals basis.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially
recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value
are recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2017
and 30 June 2018 152,360
NET BOOK VALUE
At 30 June 2018 152,360
At 30 June 2017 152,360

The fair value of the investment properties has been arrived at on the basis of a valuation carried out
by the company's director who has the experience and expertise required to undertake such an
exercise. The valuation was made on an open market value basis by reference to market evidence of
transaction prices for similar properties in the same location.

Page 3
PRESTIGE ESTATES LIMITED (REGISTERED NUMBER: 03214895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 3,712 -
Other debtors 365,384 365,384
369,096 365,384

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other creditors 424,885 419,795

8. RELATED PARTY DISCLOSURES

Loan interest paid to Mondale Tower Trust Limited was £10,922 (2017: £8,374). Amount due to
Mondale Tower Trust Limited at the balance sheet date was £368,244 (2017: £364,192).

9. PARENT UNDERTAKING

The company is a wholly owned subsidiary of Mondale Tower Trust Limited, a charitable company
limited by guarantee and incorporated in England.

Page 4