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REGISTERED NUMBER: 10459194 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRESTWOOD MANAGEMENT SERVICES LIMITED

PRESTWOOD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10459194)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESTWOOD MANAGEMENT SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: J L Higginbottom
Mrs J A Higginbottom





REGISTERED OFFICE: 90 High Street
Brownhills
Walsall
WS8 6EW





REGISTERED NUMBER: 10459194 (England and Wales)





ACCOUNTANTS: Rice & Co (Brownhills) Limited
Chartered Accountants
90 High Street
Brownhills
Walsall
West Midlands
WS8 6EW

PRESTWOOD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10459194)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,312 1,750
Investment property 5 280,000 280,000
281,312 281,750

CURRENT ASSETS
Cash at bank 22,305 13,014

CREDITORS
Amounts falling due within one year 6 261,466 256,702
NET CURRENT LIABILITIES (239,161 ) (243,688 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,151

38,062

PROVISIONS FOR LIABILITIES 249 333
NET ASSETS 41,902 37,729

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 37,148 37,148
Retained earnings 4,654 481
SHAREHOLDERS' FUNDS 41,902 37,729

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.

PRESTWOOD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10459194)

BALANCE SHEET - continued
31 March 2024


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 21 October 2024 and were signed on its behalf by:





J L Higginbottom - Director


PRESTWOOD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10459194)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Prestwood Management Services 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

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 as modified by the revaluation of certain assets.

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

Turnover is recognised when goods have been delivered to customers, or services completed, such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

PRESTWOOD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10459194)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 4,141
DEPRECIATION
At 1 April 2023 2,391
Charge for year 438
At 31 March 2024 2,829
NET BOOK VALUE
At 31 March 2024 1,312
At 31 March 2023 1,750

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 280,000
NET BOOK VALUE
At 31 March 2024 280,000
At 31 March 2023 280,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 280,000

If Jesson Court & Maple Court had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 242,423 242,423

Jesson Court & Maple Court were valued on an open market basis on 31 January 2022 by Frazer Wood Chartered Surveyors .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1 -
Taxation and social security 2,000 1,435
Other creditors 259,465 255,267
261,466 256,702

PRESTWOOD MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10459194)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

7. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 37,148