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REGISTERED NUMBER: 11440296 (England and Wales)















PRESTHOPE DEVELOPMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PRESTHOPE DEVELOPMENTS LTD (REGISTERED NUMBER: 11440296)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESTHOPE DEVELOPMENTS LTD

COMPANY INFORMATION
for the Year Ended 31 MARCH 2024







DIRECTORS: Mrs T S Nedic
S P Nedic





REGISTERED OFFICE: 1 Severn Valley Caravan Park
Kidderminster Road
Bridgnorth
Shropshire
WV15 6QL





REGISTERED NUMBER: 11440296 (England and Wales)





ACCOUNTANTS: Wallace Crooke
College House
St Leonards Close
Bridgnorth
Shropshire
WV16 4EJ

PRESTHOPE DEVELOPMENTS LTD (REGISTERED NUMBER: 11440296)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 75,214 17,466

CURRENT ASSETS
Stocks 254,824 277,099
Debtors 5 248,740 29,000
Cash at bank 677,207 791,214
1,180,771 1,097,313
CREDITORS
Amounts falling due within one year 6 172,371 237,807
NET CURRENT ASSETS 1,008,400 859,506
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,083,614

876,972

CREDITORS
Amounts falling due after more than one
year

7

(41,962

)

-

PROVISIONS FOR LIABILITIES (13,106 ) -
NET ASSETS 1,028,546 876,972

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 1,028,544 876,970
SHAREHOLDERS' FUNDS 1,028,546 876,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

PRESTHOPE DEVELOPMENTS LTD (REGISTERED NUMBER: 11440296)

BALANCE SHEET - continued
31 MARCH 2024


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 8 August 2024 and were signed on its behalf by:





S P Nedic - Director


PRESTHOPE DEVELOPMENTS LTD (REGISTERED NUMBER: 11440296)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024

1. STATUTORY INFORMATION

Presthope Developments 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.

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.
Office buildings - 10% on cost
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% 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.

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.

PRESTHOPE DEVELOPMENTS LTD (REGISTERED NUMBER: 11440296)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Office and Motor
buildings fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 12,464 20,299 - 32,763
Additions - - 81,987 81,987
At 31 March 2024 12,464 20,299 81,987 114,750
DEPRECIATION
At 1 April 2023 4,984 10,313 - 15,297
Charge for year 1,246 2,496 20,497 24,239
At 31 March 2024 6,230 12,809 20,497 39,536
NET BOOK VALUE
At 31 March 2024 6,234 7,490 61,490 75,214
At 31 March 2023 7,480 9,986 - 17,466

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 81,987
At 31 March 2024 81,987
DEPRECIATION
Charge for year 20,497
At 31 March 2024 20,497
NET BOOK VALUE
At 31 March 2024 61,490

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 248,740 29,000

PRESTHOPE DEVELOPMENTS LTD (REGISTERED NUMBER: 11440296)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts 3,309 -
Trade creditors 29,299 1
Taxation and social security 38,972 82,205
Other creditors 100,791 155,601
172,371 237,807

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts 41,962 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
2 Ordinary £1 2 2

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.