IRIS Accounts Production v24.3.0.553 14022742 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh140227422023-04-30140227422024-04-30140227422023-05-012024-04-30140227422022-04-03140227422022-04-042023-04-30140227422023-04-3014022742ns15:EnglandWales2023-05-012024-04-3014022742ns14:PoundSterling2023-05-012024-04-3014022742ns10:Director12023-05-012024-04-3014022742ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3014022742ns10:SmallEntities2023-05-012024-04-3014022742ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3014022742ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3014022742ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3014022742ns10:FullAccounts2023-05-012024-04-3014022742ns10:Director22023-05-012024-04-3014022742ns10:RegisteredOffice2023-05-012024-04-3014022742ns5:CurrentFinancialInstruments2024-04-3014022742ns5:CurrentFinancialInstruments2023-04-3014022742ns5:Non-currentFinancialInstruments2024-04-3014022742ns5:Non-currentFinancialInstruments2023-04-3014022742ns5:ShareCapital2024-04-3014022742ns5:ShareCapital2023-04-3014022742ns5:RetainedEarningsAccumulatedLosses2024-04-3014022742ns5:RetainedEarningsAccumulatedLosses2023-04-3014022742ns5:PlantMachinery2023-05-012024-04-3014022742ns5:PlantMachinery2023-04-3014022742ns5:PlantMachinery2024-04-3014022742ns5:PlantMachinery2023-04-3014022742ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3014022742ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30
REGISTERED NUMBER: 14022742 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

PRESTIGE CARS AND COMMERCIALS LIMITED

PRESTIGE CARS AND COMMERCIALS LIMITED (REGISTERED NUMBER: 14022742)

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 CARS AND COMMERCIALS LIMITED

COMPANY INFORMATION
For The Year Ended 30 April 2024







DIRECTORS: N D Hall
N T Hall





REGISTERED OFFICE: Prestige House
Vicarage Farm Road
Peterborough
Cambridgeshire
PE1 5TP





REGISTERED NUMBER: 14022742 (England and Wales)





ACCOUNTANTS: Vertiqo Peterborough Limited
18 Tesla Court
Innovation Way
Lynchwood
Peterborough
Cambridgeshire
PE2 6FL

PRESTIGE CARS AND COMMERCIALS LIMITED (REGISTERED NUMBER: 14022742)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,552 11,021

CURRENT ASSETS
Stocks 667,384 561,879
Debtors 5 12,472 14,944
Cash at bank and in hand 4,943 5,742
684,799 582,565
CREDITORS
Amounts falling due within one year 6 554,450 350,433
NET CURRENT ASSETS 130,349 232,132
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,901

243,153

CREDITORS
Amounts falling due after more than
one year

7

(101,650

)

(203,294

)

PROVISIONS FOR LIABILITIES (754 ) (273 )
NET ASSETS 41,497 39,586

PRESTIGE CARS AND COMMERCIALS LIMITED (REGISTERED NUMBER: 14022742)

BALANCE SHEET - continued
30 April 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 41,397 39,486
SHAREHOLDERS' FUNDS 41,497 39,586

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.

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 21 January 2025 and were signed on its behalf by:





N D Hall - Director


PRESTIGE CARS AND COMMERCIALS LIMITED (REGISTERED NUMBER: 14022742)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 April 2024


1. STATUTORY INFORMATION

Prestige Cars And Commercials 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.

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 etc - 25% on reducing balance

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 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.


PRESTIGE CARS AND COMMERCIALS LIMITED (REGISTERED NUMBER: 14022742)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued
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 3 (2023 - 3 ) .

PRESTIGE CARS AND COMMERCIALS LIMITED (REGISTERED NUMBER: 14022742)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 11,175
Additions 3,589
At 30 April 2024 14,764
DEPRECIATION
At 1 May 2023 154
Charge for year 1,058
At 30 April 2024 1,212
NET BOOK VALUE
At 30 April 2024 13,552
At 30 April 2023 11,021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors (2,250 ) (250 )
Other debtors 14,722 15,194
12,472 14,944

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 79,069 45,666
Taxation and social security 5,478 9,075
Other creditors 469,903 295,692
554,450 350,433

PRESTIGE CARS AND COMMERCIALS LIMITED (REGISTERED NUMBER: 14022742)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 April 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other creditors 101,650 203,294