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Company Registration No. SC585083 (Scotland)
Prestige Floors Scotland Ltd Unaudited accounts for the year ended 31 January 2023
Prestige Floors Scotland Ltd Unaudited accounts Contents
Page
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Prestige Floors Scotland Ltd Company Information for the year ended 31 January 2023
Director
Karen Hill
Company Number
SC585083 (Scotland)
Registered Office
50 CAUSEYSIDE STREET PAISLEY PA1 1YW UNITED KINGDOM
Accountants
McKinnon & Co Ltd ACPA 33 Newmarket Street Ayr Ayrshire KA7 1LL
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Prestige Floors Scotland Ltd Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
187,327 
188,538 
Current assets
Inventories
12,400 
12,400 
Debtors
4,734 
3,467 
Cash at bank and in hand
13,930 
12,608 
31,064 
28,475 
Creditors: amounts falling due within one year
(168,469)
(160,658)
Net current liabilities
(137,405)
(132,183)
Total assets less current liabilities
49,922 
56,355 
Creditors: amounts falling due after more than one year
(28,716)
(11,925)
Net assets
21,206 
44,430 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
21,205 
44,429 
Shareholders' funds
21,206 
44,430 
For the year ending 31 January 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 her 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 23 October 2023 and were signed on its behalf by
Karen Hill Director Company Registration No. SC585083
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Prestige Floors Scotland Ltd Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Prestige Floors Scotland Ltd is a private company, limited by shares, registered in Scotland, registration number SC585083. The registered office is 50 CAUSEYSIDE STREET, PAISLEY, PA1 1YW, UNITED KINGDOM.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Plant & machinery
20 % reducing
Motor vehicles
20% reducing
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 February 2022
85,000 
33,864 
110,926 
17,818 
247,608 
Additions
- 
- 
17,560 
1,667 
19,227 
At 31 January 2023
85,000 
33,864 
128,486 
19,485 
266,835 
Depreciation
At 1 February 2022
- 
16,413 
39,093 
3,564 
59,070 
Charge for the year
- 
3,490 
14,367 
2,581 
20,438 
At 31 January 2023
- 
19,903 
53,460 
6,145 
79,508 
Net book value
At 31 January 2023
85,000 
13,961 
75,026 
13,340 
187,327 
At 31 January 2022
85,000 
17,451 
71,833 
14,254 
188,538 
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Prestige Floors Scotland Ltd Notes to the Accounts for the year ended 31 January 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
3,722 
3,014 
Trade debtors
1,012 
453 
4,734 
3,467 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
7,249 
Trade creditors
7,262 
17,816 
Taxes and social security
1,784 
1,688 
Loans from directors
159,423 
133,905 
168,469 
160,658 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
7,249 
- 
Obligations under finance leases and hire purchase contracts
21,467 
11,925 
28,716 
11,925 
8
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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