Registered number
11125869
Prestine Spaces Ltd
Filleted Accounts
31 March 2024
Prestine Spaces Ltd
Registered number: 11125869
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,179 674
Current assets
Debtors 4 120 743
Cash at bank and in hand - 54
120 797
Creditors: amounts falling due within one year 5 (4,195) (2,856)
Net current liabilities (4,075) (2,059)
Total assets less current liabilities (2,896) (1,385)
Creditors: amounts falling due after more than one year 6 - (2,184)
Net liabilities (2,896) (3,569)
Capital and reserves
Called up share capital 1 1
Profit and loss account (2,897) (3,570)
Shareholders' funds (2,896) (3,569)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
________________________
Michal Maslowski
Director
Approved by the board on 8 August 2024
Prestine Spaces Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Straight line
Fixtures, fittings, tools and equipment 25% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 1,350
Additions 898
At 31 March 2024 2,248
Depreciation
At 1 April 2023 676
Charge for the year 393
At 31 March 2024 1,069
Net book value
At 31 March 2024 1,179
At 31 March 2023 674
4 Debtors 2024 2023
£ £
Trade debtors 120 -
Other debtors - 743
120 743
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13 -
Directors loan account 3,532 2,256
Accruals 650 600
4,195 2,856
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bounceback loan - 2,184
7 Other information
Prestine Spaces Ltd is a private company limited by shares and incorporated in England. Its registered office is:
99 Woodstock Avenue
Golders Green
London
NW11 9RH
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