IRIS Accounts Production v23.3.1.45 07670801 Board of Directors 1.6.22 31.5.23 31.5.23 0 0 false true false false true false Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076708012022-05-31076708012023-05-31076708012022-06-012023-05-31076708012021-05-31076708012021-06-012022-05-31076708012022-05-3107670801ns10:Originalns15:EnglandWales2022-06-012023-05-3107670801ns14:PoundSterlingns10:Original2022-06-012023-05-3107670801ns10:Originalns10:Director12022-06-012023-05-3107670801ns10:Original2022-06-012023-05-3107670801ns10:Original2023-05-3107670801ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3107670801ns10:Originalns10:SmallEntities2022-06-012023-05-3107670801ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3107670801ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3107670801ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3107670801ns10:Originalns10:FullAccounts2022-06-012023-05-3107670801ns10:Original2021-06-012022-05-3107670801ns10:Originalns10:OrdinaryShareClass12022-06-012023-05-3107670801ns10:Originalns10:Director22022-06-012023-05-3107670801ns10:Originalns10:RegisteredOffice2022-06-012023-05-3107670801ns10:Original2022-05-3107670801ns10:Originalns5:CurrentFinancialInstruments2023-05-3107670801ns10:Originalns5:CurrentFinancialInstruments2022-05-3107670801ns10:Originalns5:Non-currentFinancialInstruments2023-05-3107670801ns10:Originalns5:Non-currentFinancialInstruments2022-05-3107670801ns5:ShareCapitalns10:Original2023-05-3107670801ns5:ShareCapitalns10:Original2022-05-3107670801ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3107670801ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3107670801ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3107670801ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3107670801ns5:Securedns10:Original2023-05-3107670801ns5:Securedns10:Original2022-05-3107670801ns10:Originalns10:OrdinaryShareClass12023-05-31
REGISTERED NUMBER: 07670801 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023

FOR

PRESTVALE PROPERTIES LIMITED

PRESTVALE PROPERTIES LIMITED (REGISTERED NUMBER: 07670801)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRESTVALE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: U Bhardwaj
V B Bhardwaj



REGISTERED OFFICE: Rays House
North Circular Road
London
NW10 7XP



REGISTERED NUMBER: 07670801 (England and Wales)



BANKERS: HSBC UK Bank plc
PO Box 68
130 New Street
Birmingham
B2 4JU

PRESTVALE PROPERTIES LIMITED (REGISTERED NUMBER: 07670801)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 4,428,403 4,428,403
Debtors 4 44,181 22,659
Cash at bank 124,231 88,468
4,596,815 4,539,530
CREDITORS
Amounts falling due within one year 5 5,827 92,297
NET CURRENT ASSETS 4,590,988 4,447,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,590,988

4,447,233

CREDITORS
Amounts falling due after more than one year 6 4,447,419 4,315,590
NET ASSETS 143,569 131,643

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 143,568 131,642
SHAREHOLDERS' FUNDS 143,569 131,643

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

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 14th April 2024 and were signed on its behalf by:





U Bhardwaj - Director


PRESTVALE PROPERTIES LIMITED (REGISTERED NUMBER: 07670801)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023


1. STATUTORY INFORMATION

Prestvale Properties 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Rental income
Rental income includes ground rent and rent from temporary letting pending sale of properties, is recognised on a straight line basis over the term of the lease or rental agreement.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 19,832
Other debtors 44,181 2,827
44,181 22,659

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 50,000
Trade creditors (5,168 ) 9,789
Taxation and social security 10,115 17,915
Other creditors 880 14,593
5,827 92,297

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2,460,000
Amounts owed to group undertakings 4,447,419 1,855,590
4,447,419 4,315,590

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 2,510,000

PRESTVALE PROPERTIES LIMITED (REGISTERED NUMBER: 07670801)

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


8. CALLED UP SHARE CAPITAL

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

9. RELATED PARTY DISCLOSURES

2023 2022
£    £   
Sunflag (UK) Limited (Parent undertaking) Interest payable 181,829 55,590
Balance at the year end:
Loan account payable 4,447,419 1,855,590

10. ULTIMATE CONTROLLING PARTY

The company was controlled by Bhardwaj family throughout the current period.

The immediate parent company is Sunflag (UK) Limited and the ultimate parent undertaking is Jordelle Limited, a company registered in Jersey.