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REGISTERED NUMBER: 10310718 (England and Wales)















B&H PRESTIGE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






B&H PRESTIGE LIMITED (REGISTERED NUMBER: 10310718)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

B&H PRESTIGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: W H M Kelly
M H Donk





REGISTERED OFFICE: c/o Cox Costello & Horne
Batchworth Lock House
99 Church Street
Rickmansworth
WD3 1JJ





REGISTERED NUMBER: 10310718 (England and Wales)





ACCOUNTANTS: Cox Costello & Horne
Chartered Accountants and Tax Advisors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ

B&H PRESTIGE LIMITED (REGISTERED NUMBER: 10310718)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 178,785 184,195

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 5 96,935 99,396
Cash at bank and in hand 37,957 13,724
136,392 114,620
CREDITORS
Amounts falling due within one year 6 29,165 71,826
NET CURRENT ASSETS 107,227 42,794
TOTAL ASSETS LESS CURRENT LIABILITIES 286,012 226,989

CREDITORS
Amounts falling due after more than one year 7 1,145,383 905,213
NET LIABILITIES (859,371 ) (678,224 )

CAPITAL AND RESERVES
Called up share capital 20,880 20,880
Retained earnings (880,251 ) (699,104 )
(859,371 ) (678,224 )

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.

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 26 September 2024 and were signed on its behalf by:





M H Donk - Director


B&H PRESTIGE LIMITED (REGISTERED NUMBER: 10310718)

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


1. STATUTORY INFORMATION

B&H Prestige 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.

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.

Going concern basis
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the director. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover comprises revenue recognised by the company in respect of services supplied. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from services is recognised in the period in which the services are provided in accordance with the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The cost of an asset initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:
-Short leasehold - up to 30 years
-Improvement to property - 10% on cost
-Plant and machinery - 20% reducing balance
-Fixtures and fittings - 20 on cost
-Computer equipment - 10% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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

B&H PRESTIGE LIMITED (REGISTERED NUMBER: 10310718)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
a) Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank
Cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Cash and bank balances are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
-the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
-any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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
The company operates, for the benefit of its employees, a defined contribution scheme. The scheme is funded by the payment of contributions to trustee administered funds which are kept entirely separate from the assets of the company. The company does not operate any defined benefit retirement arrangements.

Employees are enrolled in the National Employment Savings Trust (Nest) which is a defined contribution occupational pension scheme backed by the government and set up to enable employers to meet their legislative obligations for automatic enrolment. The employee and company both contribute to NEST based on qualifying earnings of the employee. The assets of the pension scheme are held separately from the company in independently administered funds.

The pension costs represents contributions payable under the pension scheme and the company has no liability under the pension scheme other than for the payment of those contributions.

Contributions outstanding at the balance sheet date amounted to £243 (2023 - £767).

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

B&H PRESTIGE LIMITED (REGISTERED NUMBER: 10310718)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 April 2023 17,128 517,807 534,935
Additions - 73,696 73,696
Disposals - (34,965 ) (34,965 )
At 31 March 2024 17,128 556,538 573,666
DEPRECIATION
At 1 April 2023 3,283 347,457 350,740
Charge for year 571 51,583 52,154
Eliminated on disposal - (8,013 ) (8,013 )
At 31 March 2024 3,854 391,027 394,881
NET BOOK VALUE
At 31 March 2024 13,274 165,511 178,785
At 31 March 2023 13,845 170,350 184,195

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors 7,902 17,916
Other debtors 89,033 81,480
96,935 99,396

Other debtors include an unsecured rent deposit of £66,000 (2023 - £66,000).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade creditors 16,900 6,474
Taxation and social security 12,022 61,177
Other creditors 243 4,175
29,165 71,826

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£ £
Other creditors 1,145,383 905,213

8. RELATED PARTY DISCLOSURES

At the reporting date, the company owed the director £752,560 (2023: £512,390). At the reporting date, the company owed a prior director £392,823 (2023: £392,823). The outstanding amount is unsecured, interest free, has no fixed terms of repayment and is considered payable on demand. Whilst the company has negative reserves, the outstanding amount will be classified as long term in nature.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
B&H PRESTIGE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B&H Prestige Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of B&H Prestige Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of B&H Prestige Limited and state those matters that we have agreed to state to the Board of Directors of B&H Prestige Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B&H Prestige Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that B&H Prestige Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of B&H Prestige Limited. You consider that B&H Prestige Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of B&H Prestige Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cox Costello & Horne
Chartered Accountants and Tax Advisors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ


26 September 2024