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REGISTERED NUMBER: 02920444 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

PRESTIGE AIR-TECHNOLOGY LIMITED

PRESTIGE AIR-TECHNOLOGY LIMITED (REGISTERED NUMBER: 02920444)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESTIGE AIR-TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: A S Collins
R C Stevens





SECRETARY: R C Stevens





REGISTERED OFFICE: Prestige House
Landews Meadow
Green Lane, Challock
Ashford
Kent
TN25 4FN





REGISTERED NUMBER: 02920444 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Invicta Business Centre
Monument Way
Orbital Park
Ashford
Kent
TN24 0HB

PRESTIGE AIR-TECHNOLOGY LIMITED (REGISTERED NUMBER: 02920444)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 143,771 106,393
Investments 6 10,450 10,450
154,221 116,843

CURRENT ASSETS
Stocks 234,674 472,710
Debtors 7 405,965 358,188
Cash at bank and in hand 49 13,576
640,688 844,474
CREDITORS
Amounts falling due within one year 8 242,408 387,145
NET CURRENT ASSETS 398,280 457,329
TOTAL ASSETS LESS CURRENT
LIABILITIES

552,501

574,172

CREDITORS
Amounts falling due after more than one
year

9

(59,107

)

(26,775

)

PROVISIONS FOR LIABILITIES (31,094 ) (20,698 )
NET ASSETS 462,300 526,699

CAPITAL AND RESERVES
Called up share capital 136 136
Retained earnings 462,164 526,563
462,300 526,699

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

PRESTIGE AIR-TECHNOLOGY LIMITED (REGISTERED NUMBER: 02920444)

BALANCE SHEET - continued
30 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





R C Stevens - Director


PRESTIGE AIR-TECHNOLOGY LIMITED (REGISTERED NUMBER: 02920444)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Prestige Air-Technology 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. 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.

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:

Freehold buildings4% straight line
Fixtures, fittings, tools and equipment25% reducing balance
Motor vehicles25% reducing balance


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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Work in progress is valued at application value at the year end.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


PRESTIGE AIR-TECHNOLOGY LIMITED (REGISTERED NUMBER: 02920444)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued

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.

Investments
The company accounts for its investments in subsidiaries, associates and jointly controlled entities at cost less impairment.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 22 ) .

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 May 2023 116,334 118,365 172,299 406,998
Additions - 2,908 92,020 94,928
Disposals - - (68,240 ) (68,240 )
At 30 April 2024 116,334 121,273 196,079 433,686
DEPRECIATION
At 1 May 2023 92,285 103,052 105,268 300,605
Charge for year 4,654 4,364 30,680 39,698
Eliminated on disposal - - (50,388 ) (50,388 )
At 30 April 2024 96,939 107,416 85,560 289,915
NET BOOK VALUE
At 30 April 2024 19,395 13,857 110,519 143,771
At 30 April 2023 24,049 15,313 67,031 106,393

Included in Plant and machinery etc above are assets which are held under hire purchase contracts, the cost of these assets is £163,045 and the depreciation charge for the year was £52,500.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 10,450
NET BOOK VALUE
At 30 April 2024 10,450
At 30 April 2023 10,450

PRESTIGE AIR-TECHNOLOGY LIMITED (REGISTERED NUMBER: 02920444)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 371,502 310,867
Amounts owed by group undertakings 276 -
Other debtors 34,187 47,321
405,965 358,188

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,060 81,112
Hire purchase contracts (see note 10) 37,982 26,728
Trade creditors 143,140 218,900
Taxation and social security 10,209 46,643
Other creditors 37,017 13,762
242,408 387,145

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 59,107 26,775

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 37,982 26,728
Between one and five years 59,107 26,775
97,089 53,503

Non-cancellable operating leases
2024 2023
£    £   
Within one year 25,515 -
Between one and five years 90,011 -
115,526 -

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 97,089 53,503

The HP contracts are secured on the vehicles to which they relate.

NatWest bank hold a legal charge dated 4th July 2003 over Prestige house.