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REGISTERED NUMBER: 11012776 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PRESTIGE TRADE SUPPLIES LTD

PRESTIGE TRADE SUPPLIES LTD (REGISTERED NUMBER: 11012776)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESTIGE TRADE SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Stephen John Palmer
Beverley Palmer





SECRETARY:





REGISTERED OFFICE: The Grange,
Church Lane
Budbrooke
Warwick
Warwickshire
CV35 8QL





REGISTERED NUMBER: 11012776 (England and Wales)





ACCOUNTANTS: Adept Accounting
The Grange
Church Lane
Budbrooke
Warwick
CV35 8QL

PRESTIGE TRADE SUPPLIES LTD (REGISTERED NUMBER: 11012776)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,109 15,536

CURRENT ASSETS
Stocks 44,849 56,407
Debtors 5 1,050 490
Cash in hand 92,195 152,696
138,094 209,593
CREDITORS
Amounts falling due within one year 6 53,902 73,634
NET CURRENT ASSETS 84,192 135,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,301

151,495

PROVISIONS FOR LIABILITIES 2,301 2,952
NET ASSETS 94,000 148,543

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 93,998 148,541
SHAREHOLDERS' FUNDS 94,000 148,543

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 TRADE SUPPLIES LTD (REGISTERED NUMBER: 11012776)

BALANCE SHEET - continued
31 OCTOBER 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 7 April 2024 and were signed on its behalf by:





Stephen John Palmer - Director


PRESTIGE TRADE SUPPLIES LTD (REGISTERED NUMBER: 11012776)

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

1. STATUTORY INFORMATION

PRESTIGE TRADE SUPPLIES LTD 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.

These financial statements have been prepared in accordance with FRS 102 " The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company.

The principal accounting policies are set out below

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.
Plant and machinery etc - 25% 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 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.

PRESTIGE TRADE SUPPLIES LTD (REGISTERED NUMBER: 11012776)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 34,904
Additions 610
At 31 October 2023 35,514
DEPRECIATION
At 1 November 2022 19,368
Charge for year 4,037
At 31 October 2023 23,405
NET BOOK VALUE
At 31 October 2023 12,109
At 31 October 2022 15,536

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 1,050 490

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 1,669 2,397
Taxation and social security 1,139 15,171
Other creditors 51,094 56,066
53,902 73,634

7. RELATED PARTY DISCLOSURES

The controlling party is Stephen John Palmer.

The ultimate controlling party is Stephen John Palmer.