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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
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Prestige Properties (Kent) Ltd Company Information for the year ended 31 March 2023
Director
SMA Saffet
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
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Prestige Properties (Kent) Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1 
161 
Investments
100 
100 
101 
261 
Current assets
Debtors
1,900,584 
1,901,439 
Cash at bank and in hand
5,103 
5,027 
1,905,687 
1,906,466 
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)
Capital and reserves
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
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Prestige Properties (Kent) Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
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.
Turnover
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
Going concern
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
Investments in shares are included at fair value.
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Prestige Properties (Kent) Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2022
641 
At 31 March 2023
641 
Depreciation
At 1 April 2022
480 
Charge for the year
160 
At 31 March 2023
640 
Net book value
At 31 March 2023
1 
At 31 March 2022
161 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 April 2022
100 
Valuation at 31 March 2023
100 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
35 
862 
Amounts due from group undertakings etc.
1,900,426 
1,900,426 
Accrued income and prepayments
- 
28 
Other debtors
123 
123 
1,900,584 
1,901,439 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
- 
3,141 
Amounts owed to group undertakings and other participating interests
1,783,944 
1,779,017 
Loans from directors
117,684 
135,684 
Accruals
383 
1,785 
1,902,011 
1,919,627 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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