Company Registration No. 10292068 (England and Wales)
Prestige Properties (Kent) Ltd
Unaudited accounts
for the year ended 31 March 2023
Prestige Properties (Kent) Ltd
Unaudited accounts
Contents
Prestige Properties (Kent) Ltd
Company Information
for the year ended 31 March 2023
Company Number
10292068 (England and Wales)
Registered Office
125 Snodhurst Avenue
Chatham
Kent
ME5 0TN
Accountants
King & Taylor
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Prestige Properties (Kent) Ltd
Statement of financial position
as at 31 March 2023
Debtors
1,900,584
1,901,439
Cash at bank and in hand
5,103
5,027
Creditors: amounts falling due within one year
(1,902,011)
(1,919,627)
Net current assets/(liabilities)
3,676
(13,161)
Net assets/(liabilities)
3,777
(12,900)
Called up share capital
100
100
Profit and loss account
3,677
(13,000)
Shareholders' funds
3,777
(12,900)
For the year ending 31 March 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 his 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 12 July 2023 and were signed on its behalf by
SMA Saffet
Director
Company Registration No. 10292068
Prestige Properties (Kent) Ltd
Notes to the Accounts
for the year ended 31 March 2023
Prestige Properties (Kent) Ltd is a private company, limited by shares, registered in England and Wales, registration number 10292068. The registered office is 125 Snodhurst Avenue, Chatham, Kent, ME5 0TN.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Computer equipment
Straight line over 4 years
The director is not aware of any material uncertainties that may cause significant doubt about the company's ability to continue as a going concern. The company will continue to operate with the support of the director and with the view of becoming profitable.
Investments in shares are included at fair value.
Prestige Properties (Kent) Ltd
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Computer equipment
5
Investments
Subsidiary undertakings
Valuation at 1 April 2022
100
Valuation at 31 March 2023
100
Amounts falling due within one year
Amounts due from group undertakings etc.
1,900,426
1,900,426
Accrued income and prepayments
-
28
7
Creditors: amounts falling due within one year
2023
2022
Amounts owed to group undertakings and other participating interests
1,783,944
1,779,017
Loans from directors
117,684
135,684
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).