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Company registration number: 12554487

Prestige Compliance Services Limited

Filleted Unaudited Financial Statements

for the Period from 1 May 2023 to 31 January 2024

 

Prestige Compliance Services Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Prestige Compliance Services Limited

Company Information

Director

Mr A S Williams

Registered office

7 Waterside Court
St. Helens
Merseyside
WA9 1UA

Accountants

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Prestige Compliance Services Limited
for the Period Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Prestige Compliance Services Limited for the period ended 31 January 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Prestige Compliance Services Limited, as a body, in accordance with the terms of our engagement letter dated 9 May 2020. Our work has been undertaken solely to prepare for your approval the accounts of Prestige Compliance Services Limited and state those matters that we have agreed to state to the Board of Directors of Prestige Compliance Services Limited, as a body, in this report in accordance with
the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prestige Compliance Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Prestige Compliance Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Prestige Compliance Services Limited. You consider that Prestige Compliance Services Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Prestige Compliance Services 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 accounts.

......................................

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

22 October 2024

 

Prestige Compliance Services Limited

(Registration number: 12554487)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

45,266

15,440

Cash at bank and in hand

 

355

1,450

 

45,621

16,890

Creditors: Amounts falling due within one year

6

(22,459)

(16,823)

Net assets

 

23,162

67

Capital and reserves

 

Called up share capital

10

10

Retained earnings

23,152

57

Shareholders' funds

 

23,162

67

For the financial period 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 members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 October 2024
 

.........................................
Mr A S Williams
Director

   
     
 

Prestige Compliance Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
7 Waterside Court
St. Helens
Merseyside
WA9 1UA
England

The principal place of business is:
77 Calamint Road
Witham
Essex
CM8 2XT

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure of long or short period

The company shortened its accounting period as it ceased to trade, as a result comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Prestige Compliance Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 January 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% Straight line

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2023 - 3).

 

Prestige Compliance Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 January 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

373

373

Disposals

(373)

(373)

At 31 January 2024

-

-

Depreciation

At 1 May 2023

373

373

Eliminated on disposal

(373)

(373)

At 31 January 2024

-

-

Carrying amount

At 31 January 2024

-

-

5

Debtors

2024
£

2023
£

Other debtors

45,266

15,440

45,266

15,440

 

Prestige Compliance Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Corporation tax

17,500

12,013

Other creditors

4,959

4,810

22,459

16,823

7

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Mr A S Williams

Directors Loan Account

7,718

21,821

(6,905)

22,634

         
       

Ms M P F Gil

Directors Loan Account

7,717

21,821

(6,906)

22,632

         
       

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr A S Williams

Directors Loan Account

13,487

7,718

(13,487)

7,718

         
       

Ms M P F Gil

Directors Loan Account

-

7,717

-

7,717

         
       

 

The above loans are unsecured, interest free and repayable on demand. All the figures are disclosed on an aggregate basis.