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Company registration number: 07521932







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MAY 2024


PRESTIGE PAWNBROKERS LIMITED






































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PRESTIGE PAWNBROKERS LIMITED
 


 
COMPANY INFORMATION


Director
J Constantinou 




Registered number
07521932



Registered office
164-166 High Street

Guildford

Surrey

GU1 3HW




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

Surrey

TW18 4BP





 


PRESTIGE PAWNBROKERS LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6

 


PRESTIGE PAWNBROKERS LIMITED
REGISTERED NUMBER:07521932



STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,295,603
1,326,950

  
1,295,603
1,326,950

Current assets
  

Debtors: amounts falling due within one year
 5 
24,255
-

  
24,255
-

Creditors: amounts falling due within one year
 6 
(296,588)
(1,279,649)

Net current liabilities
  
 
 
(272,333)
 
 
(1,279,649)

Total assets less current liabilities
  
1,023,270
47,301

Creditors: amounts falling due after more than one year
  
(952,250)
-

  

Net assets
  
71,020
47,301


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
71,019
47,300

  
71,020
47,301

Page 1

 


PRESTIGE PAWNBROKERS LIMITED
REGISTERED NUMBER:07521932


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Constantinou
Director

Date: 18 October 2024

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 


PRESTIGE PAWNBROKERS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

1.


General information

Prestige Pawnbrokers 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.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents income generated from the rental of the property held for trade purposes by the parent company.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge 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.

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 income.

Page 3

 


PRESTIGE PAWNBROKERS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure 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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Fixtures and fittings
-
25%
reducing balance

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.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2023 - 1).

Page 4

 


PRESTIGE PAWNBROKERS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 June 2023
1,262,150
151,101
1,413,251



At 31 May 2024

1,262,150
151,101
1,413,251



Depreciation


At 1 June 2023
20,194
66,107
86,301


Charge for the period on owned assets
10,098
21,249
31,347



At 31 May 2024

30,292
87,356
117,648



Net book value



At 31 May 2024
1,231,858
63,745
1,295,603



At 31 May 2023
1,241,956
84,994
1,326,950


5.


Debtors

2024
2023
£
£


Prepayments and accrued income
24,255
-

24,255
-



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
270,004
1,263,286

Corporation tax
11,942
13,063

Accruals and deferred income
14,642
3,300

296,588
1,279,649


Page 5

 


PRESTIGE PAWNBROKERS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Other loans
952,250
-


Other loans are secured by way of fixed and float legal charges over the property held by the company.


8.


Parent Company

Prestige Pawnbrokers Limited is a wholly owned subsidiary of Prestige Asset Finance Limited, a company incorporated in the United Kingdom. Their registered office is 164-166 High Street, Guildford, England, GU1 3HW.
 
Page 6