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REGISTERED NUMBER: 12297053 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023

FOR

PRESTIGE SELECTION LTD

PRESTIGE SELECTION LTD (REGISTERED NUMBER: 12297053)






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 SELECTION LTD

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: J T Williams
J A Williams
A D Williams





REGISTERED OFFICE: Swatton Barn
Badbury
Swindon
SN4 0EU





REGISTERED NUMBER: 12297053 (England and Wales)





ACCOUNTANTS: the dt group
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU

PRESTIGE SELECTION LTD (REGISTERED NUMBER: 12297053)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,251 6,660
Tangible assets 5 1,713 3,890
5,964 10,550

CURRENT ASSETS
Stocks 106,163 91,821
Debtors 6 20,150 10,923
Cash at bank and in hand 17,650 24,451
143,963 127,195
CREDITORS
Amounts falling due within one year 7 212,267 149,995
NET CURRENT LIABILITIES (68,304 ) (22,800 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(62,340

)

(12,250

)

CREDITORS
Amounts falling due after more than one
year

8

14,166

24,166
NET LIABILITIES (76,506 ) (36,416 )

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings (76,605 ) (36,515 )
(76,506 ) (36,416 )

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 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.

PRESTIGE SELECTION LTD (REGISTERED NUMBER: 12297053)

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 Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





A D Williams - Director


PRESTIGE SELECTION LTD (REGISTERED NUMBER: 12297053)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Prestige Selection 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.

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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery, fixtures & fittings etc - 25% straight line

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.


PRESTIGE SELECTION LTD (REGISTERED NUMBER: 12297053)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

GOING CONCERN
The directors have assessed the company's future projections and cash flow forecast and believe that the going concern basis of preperation remains appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 12,045
AMORTISATION
At 1 January 2023 5,385
Charge for year 2,409
At 31 December 2023 7,794
NET BOOK VALUE
At 31 December 2023 4,251
At 31 December 2022 6,660

PRESTIGE SELECTION LTD (REGISTERED NUMBER: 12297053)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 9,489
Additions 250
At 31 December 2023 9,739
DEPRECIATION
At 1 January 2023 5,599
Charge for year 2,427
At 31 December 2023 8,026
NET BOOK VALUE
At 31 December 2023 1,713
At 31 December 2022 3,890

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,479 1,001
Other debtors 17,671 9,922
20,150 10,923

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 20,857 3,798
Taxation and social security 5,309 13,087
Other creditors 176,101 123,110
212,267 149,995

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,166 24,166

9. RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market conditions, including dividend payments to its shareholders.

PRESTIGE SELECTION LTD (REGISTERED NUMBER: 12297053)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

10. GOING CONCERN

The company and the director(s) are committed to finding a viable solution to support the company's trading in the future, and on that basis the company is considered a going concern.