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REGISTERED NUMBER: 05754582 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023

FOR

PRESTIGE STAIRLIFTS LIMITED

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 4,519 3,680
Tangible assets 6 410,135 396,297
414,654 399,977

CURRENT ASSETS
Stocks 25,640 47,385
Debtors 7 155,192 104,785
Cash at bank and in hand 279,871 578,955
460,703 731,125
CREDITORS
Amounts falling due within one year 8 117,680 144,812
NET CURRENT ASSETS 343,023 586,313
TOTAL ASSETS LESS CURRENT
LIABILITIES

757,677

986,290

PROVISIONS FOR LIABILITIES 9 17,412 11,544
NET ASSETS 740,265 974,746

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Non distributable reserves 11 549 549
Retained earnings 738,716 973,197
SHAREHOLDERS' FUNDS 740,265 974,746

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

BALANCE SHEET - continued
31 MARCH 2023


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 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.

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 and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 December 2023 and were signed by:





Mr P J O'Donoghue - Director


PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Prestige Stairlifts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05754582

Registered office: 48 St Leonards Road
Bexhill on Sea
East Sussex
TN40 1JB

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced in the year for goods and services supplied, exclusive of VAT.

Intangible assets
Intangible assets are initially recorded at cost.

The intangible assets are shown in the balance sheet at most recent valuation. Any surplus or deficit on revaluation arising from changes in fair value is recognised in the profit and loss account.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost less residual value
Freehold property improvements - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

All fixed assets are initially recorded at cost.

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. ACCOUNTING POLICIES - continued

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 and 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.

Provision is made for tax on gains and losses arising from intangible assets that are measured at fair value. This is measured using the tax rates and allowances that are expected to apply to the sale of the asset.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Cryptocurrency
£   
COST OR VALUATION
At 1 April 2022 3,680
Revaluations 839
At 31 March 2023 4,519
NET BOOK VALUE
At 31 March 2023 4,519
At 31 March 2022 3,680

Cost or valuation at 31 March 2023 is represented by:

Cryptocurrency
£   
Valuation in 2021 678
Valuation in 2022 (3,835 )
Valuation in 2023 839
Cost 6,837
4,519

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INTANGIBLE FIXED ASSETS - continued

The intangible asset is shown at the fair value at the year end with the appropriate accounting treatment reflected in the profit and loss account.

6. TANGIBLE FIXED ASSETS
Freehold
Freehold property Plant and
property improvements machinery
£    £    £   
COST
At 1 April 2022 290,313 69,997 34,765
Additions - 10,000 8,365
At 31 March 2023 290,313 79,997 43,130
DEPRECIATION
At 1 April 2022 8,709 3,751 20,911
Charge for year 2,904 1,600 9,589
At 31 March 2023 11,613 5,351 30,500
NET BOOK VALUE
At 31 March 2023 278,700 74,646 12,630
At 31 March 2022 281,604 66,246 13,854

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 35,333 80,326 24,018 534,752
Additions 106 38,424 707 57,602
At 31 March 2023 35,439 118,750 24,725 592,354
DEPRECIATION
At 1 April 2022 28,159 56,836 20,089 138,455
Charge for year 5,796 21,714 2,161 43,764
At 31 March 2023 33,955 78,550 22,250 182,219
NET BOOK VALUE
At 31 March 2023 1,484 40,200 2,475 410,135
At 31 March 2022 7,174 23,490 3,929 396,297

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 41,918 12,762
Other debtors 14,316 10,525
Amount owed by related company 300 -
Director's current account 59,423 44,050
VAT 33,630 32,455
Prepayments and accrued income 5,605 4,993
155,192 104,785

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 21,778 22,124
Corporation tax 74,738 91,356
PAYE and social security 3,986 3,370
Pensions payable 1,364 513
Other creditors 9,900 22,175
Accruals and deferred income 5,914 5,274
117,680 144,812

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 17,392 12,144
Intangible revaluation gain 20 (600 )
17,412 11,544

Deferred
tax
£   
Balance at 1 April 2022 11,544
Provided during year 5,868
Balance at 31 March 2023 17,412

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. RESERVES
Non
distributable
reserves
£   
At 1 April 2022
and 31 March 2023 549

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr P J O'Donoghue
Balance outstanding at start of year 44,050 32,384
Amounts advanced 15,374 11,666
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 59,424 44,050

Interest was charged at 2% per annum on advances to the director exceeding £10,000. The interest charged in the year amounted to £1,024 (2022: £757).