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Company Registration No. 13370105 (England and Wales)
PRESTIGIO CARS LTD Unaudited accounts for the year ended 30 April 2024
PRESTIGIO CARS LTD Unaudited accounts Contents
Page
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PRESTIGIO CARS LTD Company Information for the year ended 30 April 2024
Director
AMIR HUSSAIN
Company Number
13370105 (England and Wales)
Registered Office
21 WINDSOR STREET WOLVERTON MILTON KEYNES BUCKINGHAMSHIRE MK12 5AL ENGLAND
Accountants
MNM & Co Accountants 36 Gresham Road, Hall Green Birmingham West Midlands B28 0HY
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PRESTIGIO CARS LTD Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,612 
10,503 
Current assets
Inventories
532,306 
249,507 
Cash at bank and in hand
98,999 
55,822 
631,305 
305,329 
Creditors: amounts falling due within one year
(122,072)
(315,399)
Net current assets/(liabilities)
509,233 
(10,070)
Total assets less current liabilities
517,845 
433 
Creditors: amounts falling due after more than one year
(512,030)
- 
Net assets
5,815 
433 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
5,715 
333 
Shareholders' funds
5,815 
433 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 January 2025 and were signed on its behalf by
AMIR HUSSAIN Director Company Registration No. 13370105
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PRESTIGIO CARS LTD Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
PRESTIGIO CARS LTD is a private company, limited by shares, registered in England and Wales, registration number 13370105. The registered office is 21 WINDSOR STREET, WOLVERTON, MILTON KEYNES, BUCKINGHAMSHIRE, MK12 5AL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
18% Written Down Value
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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PRESTIGIO CARS LTD Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 May 2023
12,809 
At 30 April 2024
12,809 
Depreciation
At 1 May 2023
2,306 
Charge for the year
1,891 
At 30 April 2024
4,197 
Net book value
At 30 April 2024
8,612 
At 30 April 2023
10,503 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
30,331 
23,174 
Taxes and social security
16,669 
9,197 
Proposed dividends
55,000 
39,000 
Other creditors
20,072 
27,640 
Loans from directors
- 
216,388 
122,072 
315,399 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
512,030 
- 
7
Average number of employees
During the year the average number of employees was 10 (2023: 9).
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