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REGISTERED NUMBER: 11022589 (England and Wales)















PRESTIGE & PERFORMANCE CENTRE
WARWICKSHIRE LTD

Unaudited Financial Statements for the Year Ended 29 October 2023






PRESTIGE & PERFORMANCE CENTRE
WARWICKSHIRE LTD (REGISTERED NUMBER: 11022589)






Contents of the Financial Statements
for the year ended 29 October 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


PRESTIGE & PERFORMANCE CENTRE
WARWICKSHIRE LTD

Company Information
for the year ended 29 October 2023







Director: A L Weaver





Registered office: Units 4-6
Orchard Street
Redditch
Worcestershire
B98 7DP





Registered number: 11022589 (England and Wales)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

PRESTIGE & PERFORMANCE CENTRE
WARWICKSHIRE LTD (REGISTERED NUMBER: 11022589)

Balance Sheet
29 October 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 16,650 18,112
Tangible assets 5 616,278 494,000
632,928 512,112

Current assets
Stocks 6 112,500 285,707
Debtors 7 112,900 70,736
Cash at bank 9,944 6,884
235,344 363,327
Creditors
Amounts falling due within one year 8 1,380,553 1,182,988
Net current liabilities (1,145,209 ) (819,661 )
Total assets less current liabilities (512,281 ) (307,549 )

Creditors
Amounts falling due after more than one year 9 226,384 232,692
Net liabilities (738,665 ) (540,241 )

Capital and reserves
Called up share capital 100 100
Retained earnings (738,765 ) (540,341 )
Shareholders' funds (738,665 ) (540,241 )

PRESTIGE & PERFORMANCE CENTRE
WARWICKSHIRE LTD (REGISTERED NUMBER: 11022589)

Balance Sheet - continued
29 October 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 October 2024 and were signed by:





A L Weaver - Director


PRESTIGE & PERFORMANCE CENTRE
WARWICKSHIRE LTD (REGISTERED NUMBER: 11022589)

Notes to the Financial Statements
for the year ended 29 October 2023

1. Statutory information

Prestige & Performance Centre Warwickshire Ltd 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
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of fifteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on reducing balance
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. Employees and directors

The average number of employees during the year was 12 (2022 - 12 ) .

PRESTIGE & PERFORMANCE CENTRE
WARWICKSHIRE LTD (REGISTERED NUMBER: 11022589)

Notes to the Financial Statements - continued
for the year ended 29 October 2023

4. Intangible fixed assets
Goodwill
£
Cost
At 30 October 2022
and 29 October 2023 22,500
Amortisation
At 30 October 2022 4,388
Charge for year 1,462
At 29 October 2023 5,850
Net book value
At 29 October 2023 16,650
At 29 October 2022 18,112

5. Tangible fixed assets
Improvements Plant and Motor Computer
to property machinery vehicles equipment Totals
£ £ £ £ £
Cost
At 30 October 2022 12,236 177,729 412,209 7,066 609,240
Additions - 3,849 224,572 502 228,923
Disposals - - (53,082 ) - (53,082 )
At 29 October 2023 12,236 181,578 583,699 7,568 785,081
Depreciation
At 30 October 2022 7,501 67,155 35,091 5,493 115,240
Charge for year 2,298 24,578 35,402 956 63,234
Eliminated on disposal - - (9,671 ) - (9,671 )
At 29 October 2023 9,799 91,733 60,822 6,449 168,803
Net book value
At 29 October 2023 2,437 89,845 522,877 1,119 616,278
At 29 October 2022 4,735 110,574 377,118 1,573 494,000

6. Stocks
2023 2022
£ £
Stocks 112,500 285,707

7. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 40,440 21,563
Amounts owed by group undertakings 34,752 -
Other debtors 11,644 30,586
Prepayments 26,064 18,587
112,900 70,736

PRESTIGE & PERFORMANCE CENTRE
WARWICKSHIRE LTD (REGISTERED NUMBER: 11022589)

Notes to the Financial Statements - continued
for the year ended 29 October 2023

8. Creditors: amounts falling due within one year
2023 2022
£ £
Other loans 70,000 70,000
Hire purchase contracts (see note 10) 92,609 52,802
Trade creditors 171,118 241,074
Amounts owed to group undertakings 778,339 600,461
Social security and other taxes 7,651 43,154
VAT 108,001 74,155
Other creditors 115,501 26,086
Directors' current accounts 41,743 58,592
Accrued expenses (4,409 ) 16,664
1,380,553 1,182,988

9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bounce Back Loan 100,000 100,000
Hire purchase contracts (see note 10) 126,384 132,692
226,384 232,692

10. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 92,609 52,802
Between one and five years 126,384 132,692
218,993 185,494

Non-cancellable
operating leases
2023 2022
£ £
Within one year 33,500 33,500
Between one and five years 67,000 100,500
100,500 134,000