Prestige Developers (Claverley) Limited 02332440 true 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is a dormant company. Digita Accounts Production Advanced 6.30.9574.0 true P K Davenport true 02332440 2022-06-01 2023-05-31 02332440 2023-05-31 02332440 core:RetainedEarningsAccumulatedLosses 2023-05-31 02332440 core:ShareCapital 2023-05-31 02332440 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 02332440 bus:FRS102 2022-06-01 2023-05-31 02332440 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 02332440 bus:FullAccounts 2022-06-01 2023-05-31 02332440 bus:RegisteredOffice 2022-06-01 2023-05-31 02332440 bus:Director1 2022-06-01 2023-05-31 02332440 bus:EntityNoLongerTradingButTradedInPast 2022-06-01 2023-05-31 02332440 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 02332440 countries:EnglandWales 2022-06-01 2023-05-31 02332440 2021-06-01 2022-05-31 02332440 2022-05-31 02332440 core:RetainedEarningsAccumulatedLosses 2022-05-31 02332440 core:ShareCapital 2022-05-31 02332440 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 02332440

Prestige Developers (Claverley) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Prestige Developers (Claverley) Limited

Profit and Loss Account for the Year Ended 31 May 2023

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Prestige Developers (Claverley) Limited

(Registration number: 02332440)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Current assets

 

Cash at bank and in hand

 

72

72

Creditors: Amounts falling due within one year

4

(8,067)

(8,067)

Net liabilities

 

(7,995)

(7,995)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(8,095)

(8,095)

Shareholders' deficit

 

(7,995)

(7,995)

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 9 October 2023
 


P K Davenport
Director

   
     
 

Prestige Developers (Claverley) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Garden House
Pear Tree Lane
Heathton
Claverley
Wolverhampton
WV5 7AT

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies..

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Prestige Developers (Claverley) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Creditors

2023
£

2022
£

Due within one year

Trade creditors

7,137

7,137

Accruals

930

930

8,067

8,067