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REGISTERED NUMBER: 07114607 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PRESTIGE MARKETING & PROMOTIONS LTD

PRESTIGE MARKETING & PROMOTIONS LTD (REGISTERED NUMBER: 07114607)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESTIGE MARKETING & PROMOTIONS LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: Mrs M M Chehab





SECRETARY: Mr M N Chehab





REGISTERED OFFICE: 10 Coldbath Square
London
EC1R 5HL





REGISTERED NUMBER: 07114607 (England and Wales)





ACCOUNTANTS: ADJ Business Solutions Limited
10 Coldbath Square
London
EC1R 5HL

PRESTIGE MARKETING & PROMOTIONS LTD (REGISTERED NUMBER: 07114607)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 19,336 27,395
Investments 5 100 100
19,436 27,495

CURRENT ASSETS
Stocks 58,000 60,000
Debtors 6 32,245 63,155
Cash at bank and in hand 124,875 75,171
215,120 198,326
CREDITORS
Amounts falling due within one year 7 (66,521 ) (37,504 )
NET CURRENT ASSETS 148,599 160,822
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,035

188,317

CREDITORS
Amounts falling due after more than one year 8 (15,603 ) (28,133 )

PROVISIONS FOR LIABILITIES (363 ) (363 )
NET ASSETS 152,069 159,821

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 151,969 159,721
SHAREHOLDERS' FUNDS 152,069 159,821

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 MARKETING & PROMOTIONS LTD (REGISTERED NUMBER: 07114607)

BALANCE SHEET - continued
31 December 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 23 September 2024 and were signed by:





Mrs M M Chehab - Director


PRESTIGE MARKETING & PROMOTIONS LTD (REGISTERED NUMBER: 07114607)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Prestige Marketing & Promotions Ltd 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.

Preparation of consolidated financial statements
The financial statements contain information about Prestige Marketing & Promotions Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Property improvements - 33% on cost
Plant and machinery etc - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

PRESTIGE MARKETING & PROMOTIONS LTD (REGISTERED NUMBER: 07114607)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Property machinery
improvements etc Totals
£    £    £   
COST
At 1 January 2023 29,697 133,057 162,754
Additions - 979 979
At 31 December 2023 29,697 134,036 163,733
DEPRECIATION
At 1 January 2023 29,697 105,662 135,359
Charge for year - 9,038 9,038
At 31 December 2023 29,697 114,700 144,397
NET BOOK VALUE
At 31 December 2023 - 19,336 19,336
At 31 December 2022 - 27,395 27,395

PRESTIGE MARKETING & PROMOTIONS LTD (REGISTERED NUMBER: 07114607)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 14,590
DEPRECIATION
At 1 January 2023 6,930
Charge for year 2,298
At 31 December 2023 9,228
NET BOOK VALUE
At 31 December 2023 5,362
At 31 December 2022 7,660

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 25,565 32,403
Other debtors 6,680 30,752
32,245 63,155

PRESTIGE MARKETING & PROMOTIONS LTD (REGISTERED NUMBER: 07114607)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,140 9,890
Hire purchase contracts 2,390 2,390
Trade creditors 16,628 2,773
Taxation and social security 34,855 19,708
Other creditors 2,508 2,743
66,521 37,504

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,806 24,946
Hire purchase contracts 797 3,187
15,603 28,133