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REGISTERED NUMBER: 08771235 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

PRESTIGE LOGISTIC (UK) LIMITED

PRESTIGE LOGISTIC (UK) LIMITED (REGISTERED NUMBER: 08771235)

Contents of the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESTIGE LOGISTIC (UK) LIMITED

Company Information
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr Ekrem Alican Karakas





REGISTERED OFFICE: Unit 6
Roseberry Industrial Estate
Tottenham
London
N17 9SR





REGISTERED NUMBER: 08771235 (England and Wales)





ACCOUNTANTS: ADPL LLP
293 Green Lanes
London
N13 4XS

PRESTIGE LOGISTIC (UK) LIMITED (REGISTERED NUMBER: 08771235)

Balance Sheet
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,289 8,729

CURRENT ASSETS
Stocks 5 101,145 95,550
Debtors 6 248,438 218,901
Cash at bank and in hand 146,998 131,466
496,581 445,917
CREDITORS
Amounts falling due within one year 7 27,805 35,378
NET CURRENT ASSETS 468,776 410,539
TOTAL ASSETS LESS CURRENT
LIABILITIES

486,065

419,268

CREDITORS
Amounts falling due after more than one
year

8

(33,723

)

(43,429

)

PROVISIONS FOR LIABILITIES 9 (4,128 ) (1,510 )
NET ASSETS 448,214 374,329

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 448,213 374,328
SHAREHOLDERS' FUNDS 448,214 374,329

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 LOGISTIC (UK) LIMITED (REGISTERED NUMBER: 08771235)

Balance Sheet - continued
28 FEBRUARY 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2023 and were signed by:





Mr Ekrem Alican Karakas - Director


PRESTIGE LOGISTIC (UK) LIMITED (REGISTERED NUMBER: 08771235)

Notes to the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Prestige Logistic (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.

In carrying out this assessment, the directors have considered the impact of the Covid-19 pandemic on the trade and finances of the company and wider group and they have taken steps to protect liquidity.

The directors are therefore satisfied that there is no significant risk to the ability of the company to continue as a going concern for at least 12 months from the date of approval of these financial statements.

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 - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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 Profit & Loss Account, 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.

PRESTIGE LOGISTIC (UK) LIMITED (REGISTERED NUMBER: 08771235)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 5,750 4,000 4,000 2,398 16,148
Additions - - 11,444 - 11,444
At 28 February 2023 5,750 4,000 15,444 2,398 27,592
DEPRECIATION
At 1 March 2022 - 3,371 3,371 677 7,419
Charge for year - 126 2,414 344 2,884
At 28 February 2023 - 3,497 5,785 1,021 10,303
NET BOOK VALUE
At 28 February 2023 5,750 503 9,659 1,377 17,289
At 28 February 2022 5,750 629 629 1,721 8,729

5. STOCKS
28.2.23 28.2.22
£    £   
Stocks 101,145 95,550

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 157,068 186,071
Other debtors 7,000 -
VAT 1,310 -
Prepayments 83,060 32,830
248,438 218,901

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
VAT deferred 2,936 2,936
Trade creditors 2,866 1,487
Tax 22,003 13,460
Social security and other taxes - 4,418
Net wages - 12,259
Pension fund - 332
VAT - 486
27,805 35,378

PRESTIGE LOGISTIC (UK) LIMITED (REGISTERED NUMBER: 08771235)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bounce bank loan 33,723 43,429

9. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 4,128 1,510

Deferred
tax
£   
Balance at 1 March 2022 1,510
Charge to Profit & Loss Account during year 2,618
Balance at 28 February 2023 4,128

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director Mr Ekrem Alican Karakas by virtue of his 100% shareholding.