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REGISTERED NUMBER: SC417202 (Scotland)















Unaudited Financial Statements for the Year Ended 30th April 2023

for

Prestige Hotel Management Limited

Prestige Hotel Management Limited (Registered number: SC417202)

Contents of the Financial Statements
for the Year Ended 30th April 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 4


Prestige Hotel Management Limited

Company Information
for the Year Ended 30th April 2023







DIRECTORS: Mr R T Spanner
Mr S Weatherby





REGISTERED OFFICE: Barony Castle
Old Manse Road
Peebles
EH45 8QW





REGISTERED NUMBER: SC417202 (Scotland)





ACCOUNTANTS: McLaughlin Crolla LLP
77/2 Hanover Street
Edinburgh
EH2 1EE

Prestige Hotel Management Limited

Report of the Accountants to the Directors of
Prestige Hotel Management Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th April 2023 set out on pages four to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






McLaughlin Crolla LLP
77/2 Hanover Street
Edinburgh
EH2 1EE


20th October 2023

Prestige Hotel Management Limited (Registered number: SC417202)

Balance Sheet
30th April 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Cash at bank 820 460

CREDITORS
Amounts falling due within one year 4 20,546 40,162
NET CURRENT LIABILITIES (19,726 ) (39,702 )
TOTAL ASSETS LESS CURRENT LIABILITIES (19,726 ) (39,702 )

CREDITORS
Amounts falling due after more than one year 5 - 45,000
NET LIABILITIES (19,726 ) (84,702 )

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 7 (19,826 ) (84,802 )
SHAREHOLDERS' FUNDS (19,726 ) (84,702 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th October 2023 and were signed on its behalf by:





Mr R T Spanner - Director


Prestige Hotel Management Limited (Registered number: SC417202)

Notes to the Financial Statements
for the Year Ended 30th April 2023


1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced fees for hotel management services, excluding value added tax.

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

i. Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a
market rate of interest.

ii. Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Preference shares, which result in fixed returns to the holder or are mandatorily redeemable on a specific date, are classified as liabilities. The dividends on these preference shares are recognised in the profit and loss account as interest expense.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Prestige Hotel Management Limited (Registered number: SC417202)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2023


2. ACCOUNTING POLICIES - continued

Going concern
On 30 April 2023 the company had net liabilities of £19,726 (2022 - £84,702).

The directors have confirmed that they will continue to provide all necessary financial support to the company to allow it to continue trading and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements.

On the basis of the above, the directors have prepared the accounts on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 4,200
Tax 12,386 -
Other creditors 6,360 -
Accrued expenses 1,800 35,962
20,546 40,162

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Preference shares - 45,000

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

7. RESERVES
Retained
earnings
£   

At 1st May 2022 (84,802 )
Profit for the year 64,976
At 30th April 2023 (19,826 )