Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01falseRetail sales22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06910632 2022-11-01 2023-10-31 06910632 2021-11-01 2022-10-31 06910632 2023-10-31 06910632 2022-10-31 06910632 2021-11-01 06910632 c:Director1 2022-11-01 2023-10-31 06910632 d:MotorVehicles 2022-11-01 2023-10-31 06910632 d:MotorVehicles 2023-10-31 06910632 d:MotorVehicles 2022-10-31 06910632 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 06910632 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 06910632 d:OfficeEquipment 2022-11-01 2023-10-31 06910632 d:OfficeEquipment 2023-10-31 06910632 d:OfficeEquipment 2022-10-31 06910632 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 06910632 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 06910632 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 06910632 d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 06910632 d:CurrentFinancialInstruments 2023-10-31 06910632 d:CurrentFinancialInstruments 2022-10-31 06910632 d:Non-currentFinancialInstruments 2023-10-31 06910632 d:Non-currentFinancialInstruments 2022-10-31 06910632 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 06910632 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 06910632 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 06910632 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 06910632 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 06910632 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-10-31 06910632 d:ShareCapital 2023-10-31 06910632 d:ShareCapital 2022-10-31 06910632 d:ShareCapital 2021-11-01 06910632 d:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 06910632 d:RetainedEarningsAccumulatedLosses 2023-10-31 06910632 d:RetainedEarningsAccumulatedLosses 2021-11-01 2022-10-31 06910632 d:RetainedEarningsAccumulatedLosses 2022-10-31 06910632 d:RetainedEarningsAccumulatedLosses 2021-11-01 06910632 c:FRS102 2022-11-01 2023-10-31 06910632 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 06910632 c:FullAccounts 2022-11-01 2023-10-31 06910632 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 06910632 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 06910632









MICROPRESTIGE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
MICROPRESTIGE LIMITED
REGISTERED NUMBER: 06910632

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,137
12,296

  
10,137
12,296

Current assets
  

Stocks
  
227,000
243,000

Debtors: amounts falling due within one year
 5 
84,434
44,513

Cash at bank and in hand
 6 
5,514
6,381

  
316,948
293,894

Creditors: amounts falling due within one year
 7 
(235,783)
(231,201)

Net current assets
  
 
 
81,165
 
 
62,693

Total assets less current liabilities
  
91,302
74,989

Creditors: amounts falling due after more than one year
 8 
(34,511)
(41,056)

  

Net assets
  
56,791
33,933


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
56,790
33,932

  
56,791
33,933


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 
Page 1

 
MICROPRESTIGE LIMITED
REGISTERED NUMBER: 06910632
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023





Burhan Bulduker
Director

Date: 29 July 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
MICROPRESTIGE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 November 2021
1
19,790
19,791



Profit for the year
-
16,142
16,142

Dividends: Equity capital
-
(2,000)
(2,000)



At 1 November 2022
1
33,932
33,933



Profit for the year
-
23,858
23,858

Dividends: Equity capital
-
(1,000)
(1,000)


At 31 October 2023
1
56,790
56,791


The notes on pages 4 to 8 form part of these financial statements.

Page 3

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

1.


General information

Microprestige Limited ("the company") is a private company limited by shares, and is registered, domiciled and incorporated in England and Wales. The registered office and principal place of business is provided on the company information page.
The principal activity of the company is to trade online retail.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

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

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
10%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

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

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2023
2022
£
£

Wages and salaries
57,000
47,250

57,000
47,250


The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

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

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 November 2022
19,400
1,644
21,044



At 31 October 2023

19,400
1,644
21,044



Depreciation


At 1 November 2022
7,760
988
8,748


Charge for the year on owned assets
-
219
219


Charge for the year on financed assets
1,940
-
1,940



At 31 October 2023

9,700
1,207
10,907



Net book value



At 31 October 2023
9,700
437
10,137



At 31 October 2022
11,640
656
12,296


5.


Debtors

2023
2022
£
£


Trade debtors
53,662
30,768

Prepayments and accrued income
30,772
13,745

84,434
44,513



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
5,514
6,381

5,514
6,381


Page 7

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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
33,438
17,280

Corporation tax
10,522
5,301

Other taxation and social security
32,074
15,890

Obligations under finance lease and hire purchase contracts
376
2,728

Other creditors
158,045
188,454

Accruals and deferred income
1,328
1,548

235,783
231,201



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
34,511
41,056

34,511
41,056



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£



Amounts falling due 2-5 years

CIBIL loans
34,511
41,056


34,511
41,056


34,511
41,056


 
Page 8