Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Mr Paul Robert Skinner 07/01/2016 10 October 2024 The principal activity of the Company during the financial year was fire safety. 09939587 2024-01-31 09939587 bus:Director1 2024-01-31 09939587 2023-01-31 09939587 core:CurrentFinancialInstruments 2024-01-31 09939587 core:CurrentFinancialInstruments 2023-01-31 09939587 core:Non-currentFinancialInstruments 2024-01-31 09939587 core:Non-currentFinancialInstruments 2023-01-31 09939587 core:ShareCapital 2024-01-31 09939587 core:ShareCapital 2023-01-31 09939587 core:RetainedEarningsAccumulatedLosses 2024-01-31 09939587 core:RetainedEarningsAccumulatedLosses 2023-01-31 09939587 core:Vehicles 2023-01-31 09939587 core:ToolsEquipment 2023-01-31 09939587 core:Vehicles 2024-01-31 09939587 core:ToolsEquipment 2024-01-31 09939587 bus:OrdinaryShareClass1 2024-01-31 09939587 bus:OrdinaryShareClass2 2024-01-31 09939587 2023-02-01 2024-01-31 09939587 bus:FilletedAccounts 2023-02-01 2024-01-31 09939587 bus:SmallEntities 2023-02-01 2024-01-31 09939587 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09939587 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09939587 bus:Director1 2023-02-01 2024-01-31 09939587 core:Vehicles 2023-02-01 2024-01-31 09939587 core:ToolsEquipment 2023-02-01 2024-01-31 09939587 2022-02-01 2023-01-31 09939587 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 09939587 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 09939587 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 09939587 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 09939587 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09939587 (England and Wales)

PRESTIGE FIRE SAFETY LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

PRESTIGE FIRE SAFETY LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

PRESTIGE FIRE SAFETY LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
PRESTIGE FIRE SAFETY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTOR Mr Paul Robert Skinner
REGISTERED OFFICE Unit 7
Meadow View Industrial Estate
Reach Road
Burwell
Cambridgeshire
CB25 0GH
United Kingdom
BUSINESS ADDRESS Unit 7
Meadow View Industrial Estate
Reach Road
Burwell
Cambridgeshire
CB25 0GH
COMPANY NUMBER 09939587 (England and Wales)
ACCOUNTANT Corbett Accountants Limited
Bakersfield
82 Station Road
Soham
Ely
Cambridgeshire
CB7 5DZ
PRESTIGE FIRE SAFETY LIMITED

BALANCE SHEET

As at 31 January 2024
PRESTIGE FIRE SAFETY LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 266,666 162,687
266,666 162,687
Current assets
Stocks 28,000 52,000
Debtors 4 430,097 372,413
Cash at bank and in hand 230,555 81,028
688,652 505,441
Creditors: amounts falling due within one year 5 ( 313,425) ( 265,216)
Net current assets 375,227 240,225
Total assets less current liabilities 641,893 402,912
Creditors: amounts falling due after more than one year 6 ( 159,677) ( 107,076)
Provision for liabilities 7 ( 66,513) ( 30,769)
Net assets 415,703 265,067
Capital and reserves
Called-up share capital 8 200 200
Profit and loss account 415,503 264,867
Total shareholders' funds 415,703 265,067

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Prestige Fire Safety Limited (registered number: 09939587) were approved and authorised for issue by the Director on 10 October 2024. They were signed on its behalf by:

Mr Paul Robert Skinner
Director
PRESTIGE FIRE SAFETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
PRESTIGE FIRE SAFETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Prestige Fire Safety Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 7, Meadow View Industrial Estate, Reach Road, Burwell, Cambridgeshire, CB25 0GH, United Kingdom. The principal place of business is Unit 7, Meadow View Industrial Estate, Reach Road, Burwell, Cambridgeshire, CB25 0GH.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 20 % reducing balance
Tools and equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 15 9

3. Tangible assets

Vehicles Tools and equipment Total
£ £ £
Cost
At 01 February 2023 185,389 106,448 291,837
Additions 129,485 41,475 170,960
Disposals ( 1,500) 0 ( 1,500)
At 31 January 2024 313,374 147,923 461,297
Accumulated depreciation
At 01 February 2023 82,816 46,334 129,150
Charge for the financial year 46,349 20,318 66,667
Disposals ( 1,186) 0 ( 1,186)
At 31 January 2024 127,979 66,652 194,631
Net book value
At 31 January 2024 185,395 81,271 266,666
At 31 January 2023 102,573 60,114 162,687

4. Debtors

2024 2023
£ £
Trade debtors 387,402 330,145
VAT recoverable 11,737 20,949
Other debtors 30,958 21,319
430,097 372,413

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 9,948 9,698
Trade creditors 152,105 75,403
Amounts owed to director 40,644 120,664
Corporation tax 39,624 22,299
Obligations under finance leases and hire purchase contracts 56,359 23,584
Other creditors 14,745 13,568
313,425 265,216

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 15,776 25,895
Obligations under finance leases and hire purchase contracts 143,901 81,181
159,677 107,076

Atom Bank Plc has a fixed and floating charge on all freehold and leasehold properties.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 66,513 30,769

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 A ordinary shares of £ 1.00 each 100 100
100 B ordinary shares of £ 1.00 each 100 100
200 200

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Dividends were paid in the year in respect of shares held by the company's director. 7,000 5,000
The director charged the company for use of office during the year. 1,800 1,800
Included in creditors is a director's loan. The loan is interest free and there are no repayment terms. 40,644 120,664