Registration number:
Prestbury Management Holdings Limited
for the Year Ended 28 February 2023
Prestbury Management Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Prestbury Management Holdings Limited
Company Information
Directors |
N M Leslau P M Brown T J Evans S L Gumm B Walford |
Registered office |
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Prestbury Management Holdings Limited
(Registration number: 13089508)
Balance Sheet as at 28 February 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investment in subsidiary |
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Current assets |
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Cash at bank and in hand |
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- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Net assets |
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|
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Capital and reserves |
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Called up share capital |
902 |
904 |
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Share premium reserve |
47,101,206 |
47,101,206 |
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Capital redemption reserve |
2 |
- |
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Profit and loss account |
3,222,125 |
4,713,540 |
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Shareholders' funds |
50,324,235 |
51,815,650 |
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The Statement of Comprehensive Income and the directors' report are not delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
Approved and authorised by the
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Prestbury Management Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
General information |
The company is a private company limited by share capital, incorporated in England. The registered office address is shown on page 1.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Exemption from preparing group accounts
Going concern
Taking into consideration future expectations of dividends receivable from the company's subsidiary, the directors consider that the company will be able to meet its liabilities as they fall due for the foreseeable future, being a period of at least 12 months from the date on which these financial statements are approved. Accordingly, these financial statements have been prepared on a going concern basis.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements in compliance with FRS102 Section 1A Small Entities may require the use of certain critical estimates. It may also require the directors to exercise judgement in applying the accounting policies. |
In preparing these financial statements, the directors have had to make the following significant judgements: |
- Determine whether there are indicators of impairment of the company's investments that are carried at cost. Factors taken into consideration in reaching such a decision include knowledge as to the economic viability and expected future financial performance of the investments, extent to which the distributions received from the investments are linked to a reduction in the scale of operations and balance sheet value of the relevant underlying business. |
There were no other significant judgements or areas of critical estimation uncertainty. |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented.
Tax
The tax expense for the year comprises current and deferred tax, where applicable. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Prestbury Management Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Investment in subsidiary
Investment in subsidiary is measured in the company's balance sheet at cost less any accumulated impairment.
Cash at bank and in hand
This comprises cash at bank.
Dividends
Equity dividends are recognised when they become legally payable: interim dividends when paid and final dividends when approved by the shareholders at an annual general meeting.
Financial instruments
The company's cash at bank and other creditors are measured initially at transaction price, and subsequently at amortised cost using the effective interest method.
Director information |
The company had
Prestbury Management Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Investment in subsidiary |
£ |
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Cost |
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At 1 March 2022 |
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At 28 February 2023 |
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Impairment |
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Impairment in the year |
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At 28 February 2023 |
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Carrying amount |
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At 28 February 2023 |
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At 28 February 2022 |
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Details of subsidiary
Name |
Registered office |
Nature of capital |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Cavendish House
England |
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Prestbury Incentives Limited is incorporated in England. Its principal activity is holding shares in LXi REIT Plc, a UK Real Estate Investment Trust listed on the main market of the London stock exchange.
Prestbury Management Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Creditors: Amounts falling due within one year |
2023 |
2022 |
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Amounts owed to subsidiary |
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Corporation tax payable |
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- |
Accruals |
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Other creditors |
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( |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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902 |
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902 |
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- |
- |
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2 |
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During the year the company bought back the 2 Z ordinary shares of £1 each for £880,495.
Related party transactions |
The company has taken advantage of exemption available in FRS 102 Section 1A not to disclose transactions with its wholly owned subsidiary.
Post balance sheet events |
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Controlling party |
As at 28 February 2023,