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REGISTERED NUMBER: 12993292 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

PRESTIGE HOSPITALITY HOLDINGS LIMITED

PRESTIGE HOSPITALITY HOLDINGS LIMITED (REGISTERED NUMBER: 12993292)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESTIGE HOSPITALITY HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Mr J Reynolds





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 12993292 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

PRESTIGE HOSPITALITY HOLDINGS LIMITED (REGISTERED NUMBER: 12993292)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 700,278 723,059
Investments 5 110 110
700,388 723,169

CURRENT ASSETS
Debtors 6 100 31,828

CREDITORS
Amounts falling due within one year 7 431,472 421,502
NET CURRENT LIABILITIES (431,372 ) (389,674 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

269,016

333,495

CREDITORS
Amounts falling due after more than one
year

8

352,571

366,704
NET LIABILITIES (83,555 ) (33,209 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (83,655 ) (33,309 )
SHAREHOLDERS' FUNDS (83,555 ) (33,209 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 HOSPITALITY HOLDINGS LIMITED (REGISTERED NUMBER: 12993292)

BALANCE SHEET - continued
31 DECEMBER 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2023 and were signed by:





Mr J Reynolds - Director


PRESTIGE HOSPITALITY HOLDINGS LIMITED (REGISTERED NUMBER: 12993292)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Prestige Hospitality Holdings 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the directors are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate

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.
Fixtures and fittings - 15% on reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

FINANCIAL INSTRUMENTS
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Financial assets that are measured at cost and amortized cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized in profit or loss.

For financial assets measured at amortized cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


PRESTIGE HOSPITALITY HOLDINGS LIMITED (REGISTERED NUMBER: 12993292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

GOING CONCERN
The company's balance sheet shows a net deficit shareholders fund position. However, the directors (who are also the shareholders) have confirmed their continued financial support for the foreseeable future and for at least twelve months from the date of signature of these accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Freehold and
property Improvement fittings Totals
£    £    £    £   
Cost
At 1 January 2022
and 31 December 2022 695,145 36,975 9,868 741,988
Depreciation
At 1 January 2022 17,598 550 781 18,929
Charge for year 20,326 1,093 1,362 22,781
At 31 December 2022 37,924 1,643 2,143 41,710
Net book value
At 31 December 2022 657,221 35,332 7,725 700,278
At 31 December 2021 677,547 36,425 9,087 723,059

PRESTIGE HOSPITALITY HOLDINGS LIMITED (REGISTERED NUMBER: 12993292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
Cost
At 1 January 2022
and 31 December 2022 110
Net book value
At 31 December 2022 110
At 31 December 2021 110

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 28,667
Amounts owed by participating interests 100 100
Other debtors - 3,061
100 31,828

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 33,710 33,710
Trade creditors - 229
Amounts owed to participating interests 352,246 342,947
Other creditors 45,516 44,616
431,472 421,502

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 352,571 366,704

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 352,571 366,704

9. SECURED DEBTS

There is a fixed and floating charge over the property at 47 Robertson street, hastings, east sussex, TN34 1HL , 48 Robertson street, hastings, east sussex, TN34 1HL and 49 Robertson street, hastings, east sussex, TN34 1HL .

PRESTIGE HOSPITALITY HOLDINGS LIMITED (REGISTERED NUMBER: 12993292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary 1 100 100