Registered number
07069642
Prestford Ltd
Filleted Accounts
31 March 2024
Prestford Ltd
Registered number: 07069642
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 386,091 404,581
Tangible assets 4 480,606 482,537
866,697 887,118
Current assets
Stocks 52,301 46,850
Debtors 5 184,618 488,952
Cash at bank and in hand 102,276 84,920
339,195 620,722
Creditors: amounts falling due within one year 6 (313,556) (348,376)
Net current assets 25,639 272,346
Total assets less current liabilities 892,336 1,159,464
Creditors: amounts falling due after more than one year 7 (196,000) (277,886)
Net assets 696,336 881,578
Capital and reserves
Called up share capital 1,250 1,250
Profit and loss account 695,086 880,328
Shareholder's funds 696,336 881,578
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
WAQQASS SHEIKH
Director
Approved by the board on 29 July 2024
Prestford Ltd
Notes to the Accounts
for the period from 1 December 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 20 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 560,303
At 31 March 2024 560,303
Amortisation
At 1 December 2023 155,722
Provided during the period 18,490
At 31 March 2024 174,212
Net book value
At 31 March 2024 386,091
At 30 November 2023 404,581
4 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 1,124 273,863 321,911 596,898
Additions - 952 - 952
At 31 March 2024 1,124 274,815 321,911 597,850
Depreciation
At 1 December 2023 - 81,805 32,556 114,361
Charge for the period - 2,069 814 2,883
At 31 March 2024 - 83,874 33,370 117,244
Net book value
At 31 March 2024 1,124 190,941 288,541 480,606
At 30 November 2023 1,124 192,058 289,355 482,537
5 Debtors 2024 2023
£ £
Trade debtors 159,715 446,644
Directors Loans - 6,276
Other debtors 24,903 36,032
184,618 488,952
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 259,624 285,519
Taxation and social security costs - 30,778
Other creditors 53,932 32,079
313,556 348,376
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 277,886
Directors Loan 196,000
196,000 277,886
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
WAQQASS SHEIKH
[Loan 1] (6,276) 6,276 196,000 196,000
(6,276) 6,276 196,000 196,000
9 Other information
Prestford Ltd is a private company limited by shares and incorporated in England. Its registered office is:
21 CEMETERY ROAD
DARWEN
LANCASHIRE
BB3 2LZ
8 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1,250 1,250
Nominal Number Amount
value £
Shares issued during the period:
Ordinary shares £1 each - -
-
Shareholders Details Nominal Value Number Amount
Waqqass Sheikh - 1,250 £1,250.00
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