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REGISTERED NUMBER: 05279103 (England and Wales)










PRESTIGE CONSTRUCTION GB LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






PRESTIGE CONSTRUCTION GB LIMITED (REGISTERED NUMBER: 05279103)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

PRESTIGE CONSTRUCTION GB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mr L S Dhesi
Mr K Singh
Mr T S Brahach





SECRETARY: Mr T S Brahach





REGISTERED OFFICE: Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB





REGISTERED NUMBER: 05279103 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

PRESTIGE CONSTRUCTION GB LIMITED (REGISTERED NUMBER: 05279103)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,477,582 1,399,751

CURRENT ASSETS
Cash at bank 55,227 91,923

CREDITORS
Amounts falling due within one year 5 229,817 24,370
NET CURRENT (LIABILITIES)/ASSETS (174,590 ) 67,553
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,302,992

1,467,304

CREDITORS
Amounts falling due after more than one
year

6

860,322

1,059,868
NET ASSETS 442,670 407,436

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 442,570 407,336
SHAREHOLDERS' FUNDS 442,670 407,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 14 August 2024 and were signed on its behalf by:



Mr L S Dhesi - Director


PRESTIGE CONSTRUCTION GB LIMITED (REGISTERED NUMBER: 05279103)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Prestige Construction GB 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Investment properties - not provided
Fixtures and fittings - 15% on reducing balance

No depreciation is provided for in respect of investment properties. Such properties are held for their investment potential and not for consumption within the business. This is a departure from the Companies Act 2006 which requires all properties to be depreciated and the directors consider that to depreciate them would not enable the financial statements to give a true and fair view. In the opinion of the directors the carrying value of the investment properties are a close approximation to their market value as per the blanace sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

PRESTIGE CONSTRUCTION GB LIMITED (REGISTERED NUMBER: 05279103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Investment to Plant and and
properties property machinery fittings Totals
£    £    £    £    £   
COST
At 1 December 2022 847,572 547,828 4,327 12,714 1,412,441
Additions - 73,448 - 5,924 79,372
At 30 November 2023 847,572 621,276 4,327 18,638 1,491,813
DEPRECIATION
At 1 December 2022 - - 3,626 9,064 12,690
Charge for year - - 105 1,436 1,541
At 30 November 2023 - - 3,731 10,500 14,231
NET BOOK VALUE
At 30 November 2023 847,572 621,276 596 8,138 1,477,582
At 30 November 2022 847,572 547,828 701 3,650 1,399,751

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 1,849 1,849
Taxation and social security 8,592 11,544
Other creditors 219,376 10,977
229,817 24,370

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 860,322 885,592
Other creditors - 174,276
860,322 1,059,868

7. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 860,322 885,592

Bank borrowings are secured by way of fixed and floating charges on the assets of the Company.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within the other creditors, the amount owed to directors is £217,996 (2022: £9645). The loans are interest free and with no fixed date of repayment.

PRESTIGE CONSTRUCTION GB LIMITED (REGISTERED NUMBER: 05279103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by its directors.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PRESTIGE CONSTRUCTION GB LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Prestige Construction GB Limited for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Prestige Construction GB Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Prestige Construction GB Limited and state those matters that we have agreed to state to the Board of Directors of Prestige Construction GB Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Prestige Construction GB Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Prestige Construction GB Limited. You consider that Prestige Construction GB Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Prestige Construction GB Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB


Date: .............................................