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REGISTERED NUMBER: 05754582 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024

FOR

PRESTIGE STAIRLIFTS LIMITED

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 4,439 4,519
Tangible assets 6 440,432 410,135
444,871 414,654

CURRENT ASSETS
Stocks 42,655 25,640
Debtors 7 202,745 155,192
Cash at bank and in hand 209,762 279,871
455,162 460,703
CREDITORS
Amounts falling due within one year 8 183,552 117,680
NET CURRENT ASSETS 271,610 343,023
TOTAL ASSETS LESS CURRENT
LIABILITIES

716,481

757,677

CREDITORS
Amounts falling due after more than
one year

9

(17,762

)

-

PROVISIONS FOR LIABILITIES 10 (26,020 ) (17,412 )
NET ASSETS 672,699 740,265

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Non distributable reserves 12 (1,798 ) 549
Retained earnings 673,497 738,716
SHAREHOLDERS' FUNDS 672,699 740,265

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

BALANCE SHEET - continued
31 MARCH 2024


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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





Mr P J O'Donoghue - Director


PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Prestige Stairlifts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05754582

Registered office: 48 St Leonards Road
Bexhill on Sea
East Sussex
TN40 1JB

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced in the year for goods and services supplied, exclusive of VAT.

Intangible assets
Intangible assets are initially recorded at cost.

The intangible assets are shown in the balance sheet at most recent valuation. Any surplus or deficit on revaluation arising from changes in fair value is recognised in the profit and loss account.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost less residual value
Freehold property improvements - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

All fixed assets are initially recorded at cost.

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

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 Profit and Loss Account, 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.

Provision is made for tax on gains and losses arising from intangible assets that are measured at fair value. This is measured using the tax rates and allowances that are expected to apply to the sale of the asset.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Cryptocurrency
£   
COST OR VALUATION
At 1 April 2023 4,519
Revaluations (80 )
At 31 March 2024 4,439
NET BOOK VALUE
At 31 March 2024 4,439
At 31 March 2023 4,519

Cost or valuation at 31 March 2024 is represented by:

Cryptocurrency
£   
Valuation in 2021 678
Valuation in 2022 (3,835 )
Valuation in 2023 839
Valuation in 2024 (80 )
Cost 6,837
4,439

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INTANGIBLE FIXED ASSETS - continued

The intangible asset is shown at the fair value at the year end with the appropriate accounting treatment reflected in the profit and loss account.

6. TANGIBLE FIXED ASSETS
Freehold
Freehold property Plant and
property improvements machinery
£    £    £   
COST
At 1 April 2023 290,313 79,997 43,130
Additions - - 18,316
Disposals - - -
At 31 March 2024 290,313 79,997 61,446
DEPRECIATION
At 1 April 2023 11,613 5,351 30,500
Charge for year 2,903 1,600 12,373
Eliminated on disposal - - -
At 31 March 2024 14,516 6,951 42,873
NET BOOK VALUE
At 31 March 2024 275,797 73,046 18,573
At 31 March 2023 278,700 74,646 12,630

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 35,439 118,750 24,725 592,354
Additions 2,414 69,060 1,361 91,151
Disposals - (23,185 ) - (23,185 )
At 31 March 2024 37,853 164,625 26,086 660,320
DEPRECIATION
At 1 April 2023 33,955 78,550 22,250 182,219
Charge for year 2,034 32,923 2,026 53,859
Eliminated on disposal - (16,190 ) - (16,190 )
At 31 March 2024 35,989 95,283 24,276 219,888
NET BOOK VALUE
At 31 March 2024 1,864 69,342 1,810 440,432
At 31 March 2023 1,484 40,200 2,475 410,135

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 33,340
At 31 March 2024 33,340
DEPRECIATION
Charge for year 8,335
At 31 March 2024 8,335
NET BOOK VALUE
At 31 March 2024 25,005

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 72,925 41,918
Other debtors 25,505 14,316
Amount owed by related company - 300
Director's current account 73,832 59,423
VAT 25,589 33,630
Prepayments and accrued income 4,894 5,605
202,745 155,192

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 9,572 -
Trade creditors 20,625 21,775
Corporation tax 138,706 74,738
PAYE and social security 4,086 3,986
Pensions payable 620 1,364
Other creditors 4,791 9,900
Accruals and deferred income 5,152 5,917
183,552 117,680

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 17,762 -

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 26,619 17,992
Intangible revaluation gain (599 ) (580 )
26,020 17,412

PRESTIGE STAIRLIFTS LIMITED (REGISTERED NUMBER: 05754582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 17,412
Provided during year 8,608
Balance at 31 March 2024 26,020

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. RESERVES
Non
distributable
reserves
£   
At 1 April 2023 549
Revaluation of intangible asset (2,347 )

At 31 March 2024 (1,798 )

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr P J O'Donoghue
Balance outstanding at start of year 59,424 44,050
Amounts advanced 14,408 15,374
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 73,832 59,424

Interest was charged at 2.25% per annum on advances to the director exceeding £10,000. The interest charged in the year amounted to £1,482 (2023: £1,024).