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REGISTERED NUMBER: 11300999 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Prestige Residences Limited

Prestige Residences Limited (Registered number: 11300999)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Prestige Residences Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: G O Hughes
Mrs B Hughes





SECRETARY:





REGISTERED OFFICE: The Annex
51 Park Road
London
W4 3EY





REGISTERED NUMBER: 11300999 (England and Wales)





ACCOUNTANTS: Garside and Co. Limited
Suite 631, Linen Hall
162-168 Regent Street
London
W1B 5TG

Prestige Residences Limited (Registered number: 11300999)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 32,800 36,900
Investment property 5 2,304,788 2,304,788
2,337,588 2,341,688

CURRENT ASSETS
Stocks 14,000 19,500
Debtors 6 117,025 136,525
Cash in hand 66 1,440
131,091 157,465
CREDITORS
Amounts falling due within one year 7 (152,553 ) (177,936 )
NET CURRENT LIABILITIES (21,462 ) (20,471 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,316,126

2,321,217

CREDITORS
Amounts falling due after more than one
year

8

(2,073,670

)

(2,073,670

)
NET ASSETS 242,456 247,547

CAPITAL AND RESERVES
Called up share capital 150,100 150,100
Share premium 51,927 51,927
Retained earnings 40,429 45,520
242,456 247,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Residences Limited (Registered number: 11300999)

Balance Sheet - continued
30 April 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 31 January 2024 and were signed on its behalf by:





G O Hughes - Director


Prestige Residences Limited (Registered number: 11300999)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Prestige Residences 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.

The financial statements are prepared on the going concern basis.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

3. EMPLOYEES AND DIRECTORS

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

Prestige Residences Limited (Registered number: 11300999)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022
and 30 April 2023 45,100
DEPRECIATION
At 1 May 2022 8,200
Charge for year 4,100
At 30 April 2023 12,300
NET BOOK VALUE
At 30 April 2023 32,800
At 30 April 2022 36,900

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022
and 30 April 2023 2,304,788
NET BOOK VALUE
At 30 April 2023 2,304,788
At 30 April 2022 2,304,788

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 7,931 7,931
Amounts recoverable on contract 90,500 110,000
Other debtors 18,594 18,594
117,025 136,525

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 1 1
Amounts owed to participating interests 139,542 157,075
Taxation and social security 9,500 9,500
Other creditors 3,510 11,360
152,553 177,936

Prestige Residences Limited (Registered number: 11300999)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 1,673,580 1,673,580
Other creditors 400,090 400,090
2,073,670 2,073,670