IRIS Accounts Production v24.1.9.2 01438543 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh014385432023-03-31014385432024-03-31014385432023-04-012024-03-31014385432022-03-31014385432022-04-012023-03-31014385432023-03-3101438543ns15:EnglandWales2023-04-012024-03-3101438543ns14:PoundSterling2023-04-012024-03-3101438543ns10:Director12023-04-012024-03-3101438543ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3101438543ns10:SmallEntities2023-04-012024-03-3101438543ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3101438543ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3101438543ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3101438543ns10:FullAccounts2023-04-012024-03-3101438543ns10:Director22023-04-012024-03-3101438543ns10:Director32023-04-012024-03-3101438543ns10:CompanySecretary12023-04-012024-03-3101438543ns10:RegisteredOffice2023-04-012024-03-3101438543ns5:CurrentFinancialInstruments2024-03-3101438543ns5:CurrentFinancialInstruments2023-03-3101438543ns5:ShareCapital2024-03-3101438543ns5:ShareCapital2023-03-3101438543ns5:SharePremium2024-03-3101438543ns5:SharePremium2023-03-3101438543ns5:RevaluationReserve2024-03-3101438543ns5:RevaluationReserve2023-03-3101438543ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-3101438543ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3101438543ns5:RetainedEarningsAccumulatedLosses2024-03-3101438543ns5:RetainedEarningsAccumulatedLosses2023-03-3101438543ns5:CostValuation2023-03-3101438543ns5:AdditionsToInvestments2024-03-3101438543ns5:DisposalsRepaymentsInvestments2024-03-3101438543ns5:RevaluationsIncreaseDecreaseInInvestments2024-03-3101438543ns5:CostValuation2024-03-3101438543ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101438543ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101438543ns5:RevaluationReserve2023-03-31
REGISTERED NUMBER: 01438543 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRESTONBRIDGE LIMITED

PRESTONBRIDGE LIMITED (REGISTERED NUMBER: 01438543)






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


PRESTONBRIDGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R R Carlson
D Rutter
Mrs C E J Hodge





SECRETARY: Mrs C E J Hodge





REGISTERED OFFICE: 27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE





REGISTERED NUMBER: 01438543 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

PRESTONBRIDGE LIMITED (REGISTERED NUMBER: 01438543)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 982,273 921,632
Investment property 5 483,600 400,000
1,465,873 1,321,632

CURRENT ASSETS
Debtors 6 1,147 1,020
Cash at bank 104,620 177,882
105,767 178,902
CREDITORS
Amounts falling due within one year 7 15,235 28,237
NET CURRENT ASSETS 90,532 150,665
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,556,405

1,472,297

PROVISIONS FOR LIABILITIES 65,070 39,800
NET ASSETS 1,491,335 1,432,497

CAPITAL AND RESERVES
Called up share capital 96 96
Share premium 49,904 49,904
Fair value reserve 8 504,074 420,515
Other distributable reserves 30,000 30,000
Retained earnings 907,261 931,982
SHAREHOLDERS' FUNDS 1,491,335 1,432,497

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.

PRESTONBRIDGE LIMITED (REGISTERED NUMBER: 01438543)

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 24 September 2024 and were signed on its behalf by:





Mrs C E J Hodge - Director


PRESTONBRIDGE LIMITED (REGISTERED NUMBER: 01438543)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Prestonbridge 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover shown in the profit and loss account represents amounts invoiced during the year.

In respect of contracts for on-going services, turnover represents the value of the services provided in the year, including estimates of amounts not invoiced.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Investment properties
Investment properties in accordance with FRS102 are revalued annually and the aggregate surplus or deficit included in total comprehensive income together with a provision for corporation tax on capital gains which would arise if in the future the properties were sold at the balance sheet value. The net amount is not distributable and transferred to a revaluation reserve.

PRESTONBRIDGE LIMITED (REGISTERED NUMBER: 01438543)

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 - 2 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 921,632
Additions 78,356
Disposals (70,055 )
Revaluations 52,340
At 31 March 2024 982,273
NET BOOK VALUE
At 31 March 2024 982,273
At 31 March 2023 921,632

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2024 982,273

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 400,000
Additions 23,658
Revaluations 59,942
At 31 March 2024 483,600
NET BOOK VALUE
At 31 March 2024 483,600
At 31 March 2023 400,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 483,600

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 145,042 121,384

Investment properties were valued on an open market basis on 31 March 2024 by the directors .

PRESTONBRIDGE LIMITED (REGISTERED NUMBER: 01438543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 966 982
Other debtors 181 38
1,147 1,020

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 2,821 5,100
Taxation and social security 2,909 7,927
Other creditors 9,505 15,210
15,235 28,237

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023 420,515
Fair value gains, net of
deferred tax 83,559

At 31 March 2024 504,074