Registration number:
Prestbury Management Holdings Limited
for the Year Ended 29 February 2024
Prestbury Management Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Prestbury Management Holdings Limited
Company Information
Directors |
N M Leslau P M Brown T J Evans S L Gumm B Walford |
Registered office |
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Prestbury Management Holdings Limited
(Registration number: 13089508)
Balance Sheet as at 29 February 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment in subsidiary |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
902 |
902 |
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Share premium reserve |
47,101,206 |
47,101,206 |
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Capital redemption reserve |
2 |
2 |
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Profit and loss account |
4,735,949 |
3,222,125 |
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Shareholders' funds |
51,838,059 |
50,324,235 |
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. |
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. The statement of comprehensive income and the directors' report are not delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
Approved and authorised by the
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Prestbury Management Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
General information |
The company is a private company limited by share capital, incorporated in England. The registered office address is shown on page 1.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Exemption from preparing group accounts
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements in compliance with FRS102 Section 1A Small Entities may require the use of certain critical estimates. It may also require the directors to exercise judgement in applying the accounting policies. |
In preparing these financial statements, the directors have had to make the following significant judgement: |
- Determine whether there are indicators of impairment of the company's investments that are carried at cost. Factors taken into consideration in reaching such a decision include knowledge as to the economic viability and expected future financial performance of the investments, extent to which the distributions received from the investments are linked to a reduction in the scale of operations and balance sheet value of the relevant underlying business. |
There were no other significant judgements or areas of critical estimation uncertainty. |
Summary of significant accounting policies
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 periods presented.
Prestbury Management Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Tax
The tax expense for the year comprises current and deferred tax, where applicable. Tax is recognised in profit or loss, except that a charge attributable to an item of income or 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 company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Investment in subsidiary
Investment in subsidiary is measured in the company's balance sheet at cost less any accumulated impairment.
An entity is treated as a subsidiary undertaking where the company has the power to govern the financial and operating policies of the investee entity so as to obtain benefits from its activities.
Income from subsidiary
Income from investment in subsidiary is recognised when the amounts have been received or otherwise where there is certainty as to the receipt of the income receivable at the relevant balance sheet date.
Cash at bank and in hand
This comprises cash at bank.
Dividends
Equity dividends are recognised when they become legally payable: interim dividends when paid and final dividends when approved by the shareholders at an annual general meeting.
Financial instruments
The company's cash at bank and other creditors are measured initially at transaction price, and subsequently at amortised cost using the effective interest method, where appropriate.
Employees and director information |
The company had no employees (2023 - none) and
Prestbury Management Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Investment in subsidiary |
£ |
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Cost |
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At 1 March 2023 |
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At 29 February 2024 |
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Impairment |
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At 1 March 2023 |
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Reversal of impairment in the year |
( |
At 29 February 2024 |
- |
Carrying amount |
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At 29 February 2024 |
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At 28 February 2023 |
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Details of subsidiary
Name |
Registered office |
Nature of capital |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Cavendish House
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Prestbury Incentives Limited is incorporated in England. At 29 February 2024, its principal activity was holding shares in LXi REIT Plc, a UK real estate investment trust listed on the main market of the London Stock Exchange. On 5 March 2024, following an all share merger of LXi REIT Plc and LondonMetric Property Plc, all LXi REIT Plc shares were exchanged for shares in LondonMetric Property Plc, a UK real estate investment trust listed on the main market of the London Stock Exchange and a FTSE 100 constituent company.
Prestbury Management Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Creditors: Amounts falling due within one year |
2024 |
2023 |
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Amounts owed to subsidiary |
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Corporation tax payable |
- |
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Accruals |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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902 |
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902 |
Related party transactions |
The company has taken advantage of exemption available in FRS 102 Section 1A not to disclose transactions with its wholly owned subsidiary.
Post balance sheet events |
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Controlling party |
As at 29 February 2024,