Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The company's principal activity is carrying out trade as a purchasing consulting business for hospitality, food sevice and leisure industry.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01false1714truetruefalse 03474045 2023-01-01 2023-12-31 03474045 2022-01-01 2022-12-31 03474045 2023-12-31 03474045 2022-12-31 03474045 c:Director1 2023-01-01 2023-12-31 03474045 d:FurnitureFittings 2023-01-01 2023-12-31 03474045 d:FurnitureFittings 2023-12-31 03474045 d:FurnitureFittings 2022-12-31 03474045 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03474045 d:OfficeEquipment 2023-01-01 2023-12-31 03474045 d:OfficeEquipment 2023-12-31 03474045 d:OfficeEquipment 2022-12-31 03474045 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03474045 d:ComputerEquipment 2023-01-01 2023-12-31 03474045 d:ComputerEquipment 2023-12-31 03474045 d:ComputerEquipment 2022-12-31 03474045 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03474045 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 03474045 d:OtherPropertyPlantEquipment 2023-12-31 03474045 d:OtherPropertyPlantEquipment 2022-12-31 03474045 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03474045 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03474045 d:CurrentFinancialInstruments 2023-12-31 03474045 d:CurrentFinancialInstruments 2022-12-31 03474045 d:Non-currentFinancialInstruments 2023-12-31 03474045 d:Non-currentFinancialInstruments 2022-12-31 03474045 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03474045 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03474045 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03474045 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03474045 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 03474045 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 03474045 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 03474045 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 03474045 d:ShareCapital 2023-12-31 03474045 d:ShareCapital 2022-12-31 03474045 d:CapitalRedemptionReserve 2023-12-31 03474045 d:CapitalRedemptionReserve 2022-12-31 03474045 d:RetainedEarningsAccumulatedLosses 2023-12-31 03474045 d:RetainedEarningsAccumulatedLosses 2022-12-31 03474045 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03474045 c:OrdinaryShareClass1 2023-12-31 03474045 c:OrdinaryShareClass1 2022-12-31 03474045 c:OrdinaryShareClass2 2023-01-01 2023-12-31 03474045 c:OrdinaryShareClass2 2023-12-31 03474045 c:OrdinaryShareClass2 2022-12-31 03474045 c:FRS102 2023-01-01 2023-12-31 03474045 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03474045 c:FullAccounts 2023-01-01 2023-12-31 03474045 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03474045 6 2023-01-01 2023-12-31 03474045 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 03474045









PRESTIGE PURCHASING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PRESTIGE PURCHASING LIMITED
REGISTERED NUMBER: 03474045

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

FIXED ASSETS
  

Tangible fixed assets
 4 
5,156
5,663

Investments
 5 
400
400

  
5,556
6,063

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
607,146
552,772

Cash at bank and in hand
  
222,569
199,415

  
829,715
752,187

Creditors: amounts falling due within one year
 7 
(423,682)
(398,595)

NET CURRENT ASSETS
  
 
 
406,033
 
 
353,592

TOTAL ASSETS LESS CURRENT LIABILITIES
  
411,589
359,655

Creditors: amounts falling due after more than one year
 8 
(75,000)
(125,000)

  

NET ASSETS
  
336,589
234,655


CAPITAL AND RESERVES
  

Called up share capital 
 10 
36,357
44,232

Capital redemption reserve
  
54,342
46,467

Profit and loss account
  
245,890
143,956

  
336,589
234,655


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
 
Page 1

 
PRESTIGE PURCHASING LIMITED
REGISTERED NUMBER: 03474045
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


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 profit and loss account 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: 




S T Allen
Director

Date: 28 August 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PRESTIGE PURCHASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

Prestige Purchasing Limited is a private company limited by shares and incorporated in England and Wales. It's registered office address is Aurora House, Deltic Avenue, Rooksley, Milton Keynes, MK13 8LW. 
The company's functional and presentation currency is GBP. 

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

TURNOVER

Turnover comprises revenue recognised by the company in respect of the supply of consultancy services during the year, exclusive of Value Added Tax and trade discounts.
In respect of contracts for on-going services, turnover is recognised by reference to the stage of completion of the project, therefore accrued and deferred income is included as appropriate.

 
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.

 
2.4

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
PRESTIGE PURCHASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

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:

Fixtures and fittings
-
33%
straight line
Office equipment
-
33%
straight line
Computer equipment
-
33%
straight line
Other fixed assets
-
20%
straight line, over the life of the lease

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.

 
2.7

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
PRESTIGE PURCHASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

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.

 
2.9

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.

 
2.10

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 17 (2022 - 14).

Page 5

 
PRESTIGE PURCHASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


TANGIBLE FIXED ASSETS





Fixtures and fittings
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£



COST OR VALUATION


At 1 January 2023
10,156
27,015
8,500
14,387
60,058


Additions
-
5,056
-
-
5,056



At 31 December 2023

10,156
32,071
8,500
14,387
65,114



DEPRECIATION


At 1 January 2023
10,156
25,510
4,958
13,771
54,395


Charge for the year on owned assets
-
2,113
2,834
616
5,563



At 31 December 2023

10,156
27,623
7,792
14,387
59,958



NET BOOK VALUE



At 31 December 2023
-
4,448
708
-
5,156



At 31 December 2022
-
1,505
3,542
616
5,663


5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 January 2023
400



At 31 December 2023
400




Page 6

 
PRESTIGE PURCHASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


DEBTORS

2023
2022
£
£


Trade debtors
183,556
140,291

Other debtors
19,968
15,988

Prepayments and accrued income
403,622
396,493

607,146
552,772


Included within other debtors is a loan to a director amounting to £2,000 (2022 - £NIL). Amounts repaid during the year totalled £NIL.  The loan is interest free and repayble on demand.



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank loans
50,000
50,000

Trade creditors
64,670
122,194

Amounts owed to group undertakings
400
400

Corporation tax
77,690
27,063

Other taxation and social security
101,320
105,549

Other creditors
4,807
7,910

Accruals and deferred income
124,795
85,479

423,682
398,595


The bank loan accrues interest at a rate of 2.5% above the bank's base rate per annum and is repayable over a period of 6 years. 
The bank holds a debenture charge over all of the company's assets.
Included within other creditors are amounts due to defined contribution pension schemes of £4,807 (2022 - £3,937). 

Page 7

 
PRESTIGE PURCHASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
75,000
125,000

75,000
125,000


The bank loan accrues interest at a rate of 2.5% above the bank's base rate per annum and is repayable over a period of 6 years. 
The bank holds a debenture charge over all of the company's assets.


9.


LOANS


Analysis of the maturity of loans is given below:


2023
2022
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
50,000
50,000

AMOUNTS FALLING DUE 1-2 YEARS

Bank loans
50,000
50,000

AMOUNTS FALLING DUE 2-5 YEARS

Bank loans
25,000
75,000


125,000
175,000



10.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



33,750 (2022 - 41,625) Ordianry Shares shares of £1.00 each
33,750
41,625
2,607 (2022 - 2,607) 'A' Ordinary Shares shares of £1.00 each
2,607
2,607

36,357

44,232

During the year 7,875 Ordinary Shares of £1 each were repurchased by the Company for £50,000.


Page 8

 
PRESTIGE PURCHASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies that are not included in the balance sheet amount to £205,465 (2022 - £108,792).

 
Page 9