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REGISTERED NUMBER: 06451407 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 31 October 2023

for

CAR-TECH PRESTIGE LIMITED

CAR-TECH PRESTIGE LIMITED (REGISTERED NUMBER: 06451407)






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


CAR-TECH PRESTIGE LIMITED

Company Information
for the year ended 31 October 2023







DIRECTORS: R Beresford
Mrs L J Beresford





SECRETARY: Mrs L J Beresford





REGISTERED OFFICE: Unit 1C Bowden Place
Meadowfield Industrial Estate
Durham
Co. Durham
DH7 8TB





REGISTERED NUMBER: 06451407 (England and Wales)





ACCOUNTANTS: Mitchells Grievson Limited
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

CAR-TECH PRESTIGE LIMITED (REGISTERED NUMBER: 06451407)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,242 61,487

CURRENT ASSETS
Stocks and Work In Progress 25,269 28,320
Debtors 5 102,727 133,871
Cash at bank and in hand 12,579 994
140,575 163,185
CREDITORS
Amounts falling due within one year 6 135,830 171,137
NET CURRENT ASSETS/(LIABILITIES) 4,745 (7,952 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,987

53,535

CREDITORS
Amounts falling due after more than one
year

7

(15,864

)

(34,793

)

PROVISIONS FOR LIABILITIES (4,795 ) (11,682 )
NET ASSETS 9,328 7,060

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9,228 6,960
SHAREHOLDERS' FUNDS 9,328 7,060

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.

CAR-TECH PRESTIGE LIMITED (REGISTERED NUMBER: 06451407)

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 24 July 2024 and were signed on its behalf by:





R Beresford - Director


CAR-TECH PRESTIGE LIMITED (REGISTERED NUMBER: 06451407)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Car-Tech Prestige 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.

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 - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 20% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks and work in progress to their present location and condition.

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.

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.

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.

CAR-TECH PRESTIGE LIMITED (REGISTERED NUMBER: 06451407)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2022 131,878 15,847 2,397 150,122
Additions 4,191 - - 4,191
Disposals (44,214 ) - - (44,214 )
At 31 October 2023 91,855 15,847 2,397 110,099
DEPRECIATION
At 1 November 2022 74,340 11,898 2,397 88,635
Charge for year 4,320 395 - 4,715
Eliminated on disposal (8,493 ) - - (8,493 )
At 31 October 2023 70,167 12,293 2,397 84,857
NET BOOK VALUE
At 31 October 2023 21,688 3,554 - 25,242
At 31 October 2022 57,538 3,949 - 61,487

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,095 20,608
Other debtors 83,632 113,263
102,727 133,871

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 65,747 44,399
Trade creditors 11,791 59,315
Taxation and social security 41,051 19,031
Other creditors 17,241 48,392
135,830 171,137

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 15,864 34,793

CAR-TECH PRESTIGE LIMITED (REGISTERED NUMBER: 06451407)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

8. SECURED DEBTS

Bank facilities are secured by a floating and a fixed charge which covers all property or undertakings of the company.