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REGISTERED NUMBER: 07417168 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Prestige Timber Products & Services Ltd

Prestige Timber Products & Services Ltd (Registered number: 07417168)

Contents of the Financial Statements
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Prestige Timber Products & Services Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTOR: W S Smith





REGISTERED OFFICE: Unit 6, St Johns Business Park
Southcoates Lane
Hull
East Yorkshire
HU9 3RL





REGISTERED NUMBER: 07417168 (England and Wales)





ACCOUNTANTS: Dymond Accountants
Office F1,
Beverley Enterprise Centre
Beck View Road
Beverley
East Yorkshire
HU17 0JT

Prestige Timber Products & Services Ltd (Registered number: 07417168)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 863 2,675

CURRENT ASSETS
Stocks 87,450 25,698
Debtors 5 308,902 473,343
Cash at bank and in hand 2,449 9,033
398,801 508,074
CREDITORS
Amounts falling due within one year 6 301,725 402,321
NET CURRENT ASSETS 97,076 105,753
TOTAL ASSETS LESS CURRENT LIABILITIES 97,939 108,428

CREDITORS
Amounts falling due after more than one year 7 12,227 22,432
NET ASSETS 85,712 85,996

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 85,682 85,966
85,712 85,996

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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 9th July 2024 and were signed by:



W S Smith - Director


Prestige Timber Products & Services Ltd (Registered number: 07417168)

Notes to the Financial Statements
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

Prestige Timber Products & Services 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 50% 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 31 ) .

Prestige Timber Products & Services Ltd (Registered number: 07417168)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st April 2023 60,811 7,486 9,994 78,291
Additions - 118 - 118
At 31st March 2024 60,811 7,604 9,994 78,409
DEPRECIATION
At 1st April 2023 58,966 6,656 9,994 75,616
Charge for year 1,145 785 - 1,930
At 31st March 2024 60,111 7,441 9,994 77,546
NET BOOK VALUE
At 31st March 2024 700 163 - 863
At 31st March 2023 1,845 830 - 2,675

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 291,748 440,631
Other debtors 17,154 32,712
308,902 473,343

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 95,437 111,416
Trade creditors 131,764 150,755
Taxation and social security 55,556 95,470
Other creditors 18,968 44,680
301,725 402,321

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 12,227 22,432