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REGISTERED NUMBER: 05189043 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Prestige Building & Maintenance (UK)
Limited

Prestige Building & Maintenance (UK)
Limited (Registered number: 05189043)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Prestige Building & Maintenance (UK)
Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S P Rebello
Mrs A L Rebello



SECRETARY: Mrs A L Rebello



REGISTERED OFFICE: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
GL3 3RS



REGISTERED NUMBER: 05189043 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Lloyds Bank
19 Eastgate Street
Gloucester
Gloucestershire
GL1 1NU

Prestige Building & Maintenance (UK)
Limited (Registered number: 05189043)

Statement of Financial Position
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,587 7,153

CURRENT ASSETS
Stocks 750 500
Debtors 5 55,631 30,050
Cash at bank 55,104 111,465
111,485 142,015
CREDITORS
Amounts falling due within one year 6 39,231 53,819
NET CURRENT ASSETS 72,254 88,196
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,841

95,349

CREDITORS
Amounts falling due after more than one
year

7

(17,333

)

(25,333

)

PROVISIONS FOR LIABILITIES (1,049 ) (1,342 )
NET ASSETS 59,459 68,674

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 59,359 68,574
SHAREHOLDERS' FUNDS 59,459 68,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Prestige Building & Maintenance (UK)
Limited (Registered number: 05189043)

Statement of Financial Position - continued
31 March 2023


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 23 October 2023 and were signed on its behalf by:





S P Rebello - Director


Prestige Building & Maintenance (UK)
Limited (Registered number: 05189043)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Prestige Building & Maintenance (UK) Limited is a private company, limited by shares , registered in England and Wales. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the amount receivable. Grants relating to revenue are recognised in income over the period in which the income is receivable.

The company took out a Bounce Back Loan during the prior year. Under the terms of the Bounce Back Loan, the first year of interest on this loan is covered by the Government as a Business Interruption Payment (BIP). The estimated BIP met by the Government during the year totalled £0 (2022 - £167).

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


Prestige Building & Maintenance (UK)
Limited (Registered number: 05189043)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 April 2022 33,769 14,000 47,769
Additions 21,919 - 21,919
Disposals (22,387 ) - (22,387 )
At 31 March 2023 33,301 14,000 47,301
Depreciation
At 1 April 2022 26,710 13,906 40,616
Charge for year 1,838 23 1,861
Eliminated on disposal (763 ) - (763 )
At 31 March 2023 27,785 13,929 41,714
Net book value
At 31 March 2023 5,516 71 5,587
At 31 March 2022 7,059 94 7,153

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 54,179 10,590
Other debtors 1,452 19,460
55,631 30,050

Prestige Building & Maintenance (UK)
Limited (Registered number: 05189043)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 1,591 10,035
Taxation and social security (447 ) 8,138
Other creditors 30,087 27,646
39,231 53,819

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans 17,333 25,333

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/3/23 31/3/22
£    £   
Within one year 1,982 1,643
Between one and five years 8,878 2,239
10,860 3,882

9. RELATED PARTY DISCLOSURES

At 31 March 2023, the company owed the directors, S Rebello and Mrs A Rebello £27,536 (2022 - £24,559). The loan balance, included within other creditors, is interest free and has no fixed repayment terms.