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REGISTERED NUMBER: 11523322 (England and Wales)















Financial Statements for the Year Ended 31 August 2023

for

Prestige Nails Limited

Prestige Nails Limited (Registered number: 11523322)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Prestige Nails Limited (Registered number: 11523322)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £ £
Fixed assets
Tangible assets 4 70,169 82,005

Current assets
Debtors 5 59,128 628
Cash at bank 39,566 58,558
98,694 59,186
Creditors
Amounts falling due within one year 6 (17,795 ) (16,345 )
Net current assets 80,899 42,841
Total assets less current liabilities 151,068 124,846

Creditors
Amounts falling due after more than
one year

7

(10,727

)

(16,727

)
Net assets 140,341 108,119

Capital and reserves
Called up share capital 9 100 100
Retained earnings 10 140,241 108,019
Shareholders' funds 140,341 108,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Prestige Nails Limited (Registered number: 11523322)

Balance Sheet - continued
31 August 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 director and authorised for issue on 10 September 2023 and were signed by:





Miss Fozia Anyat - Director


Prestige Nails Limited (Registered number: 11523322)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. Statutory information

Prestige Nails Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11523322

Registered office: 29 London Road
Croydon
CR0 2RE

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.

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 5 (2022 - 3 ) .

Prestige Nails Limited (Registered number: 11523322)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. Tangible fixed assets
Fixtures
Plant and and
machinery fittings Totals
£ £ £
Cost
At 1 September 2022
and 31 August 2023 86,652 17,281 103,933
Depreciation
At 1 September 2022 17,330 4,598 21,928
Charge for year 8,665 3,171 11,836
At 31 August 2023 25,995 7,769 33,764
Net book value
At 31 August 2023 60,657 9,512 70,169
At 31 August 2022 69,322 12,683 82,005

5. Debtors: amounts falling due within one year
31.8.23 31.8.22
£ £
Trade debtors 1,128 628
Other debtors 58,000 -
59,128 628

6. Creditors: amounts falling due within one year
31.8.23 31.8.22
£ £
Trade creditors (1 ) 29
Corporation tax 17,796 16,316
17,795 16,345

7. Creditors: amounts falling due after more than one year
31.8.23 31.8.22
£ £
Bank loans (see note 8) 10,727 16,727

Prestige Nails Limited (Registered number: 11523322)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. Loans

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
£ £
Amounts falling due between one and two years:
Bank loans > 1 year 10,727 16,727

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £ £
100 Ordinary shares 1 100 100

10. Reserves
Retained
earnings
£

At 1 September 2022 108,019
Profit for the year 32,222
At 31 August 2023 140,241