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REGISTERED NUMBER: 04260145 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Prestige Plastics Limited

Prestige Plastics Limited (Registered number: 04260145)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Prestige Plastics Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr S Geranio
Mr K A Hanger
Mr S A Taylor
Mr M I Todd
Mr S Manning





SECRETARY: Mr K A Hanger





REGISTERED OFFICE: 63 Broad Green
Wellingborough
Northamptonshire
NN8 4LQ





REGISTERED NUMBER: 04260145 (England and Wales)





ACCOUNTANTS: Clifford Roberts
63 Broad Green
Wellingborough
Northamptonshire
NN8 4LQ

Prestige Plastics Limited (Registered number: 04260145)

Balance Sheet
31 July 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 158,278 207,539
Investment property 5 700,000 600,000
858,278 807,539

CURRENT ASSETS
Stocks 145,490 174,088
Debtors 6 239,864 463,228
Cash at bank and in hand 988,445 1,552,153
1,373,799 2,189,469
CREDITORS
Amounts falling due within one year 7 1,792,825 1,397,679
NET CURRENT (LIABILITIES)/ASSETS (419,026 ) 791,790
TOTAL ASSETS LESS CURRENT
LIABILITIES

439,252

1,599,329

PROVISIONS FOR LIABILITIES 38,490 41,876
NET ASSETS 400,762 1,557,453

CAPITAL AND RESERVES
Called up share capital 8 110 4
Share premium 24,985 -
Revaluation reserve 9 100,000 -
Retained earnings 275,667 1,557,449
SHAREHOLDERS' FUNDS 400,762 1,557,453

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Plastics Limited (Registered number: 04260145)

Balance Sheet - continued
31 July 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 18 February 2025 and were signed on its behalf by:





Mr S Manning - Director


Prestige Plastics Limited (Registered number: 04260145)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Prestige Plastics 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.

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 as modified by the revaluation of certain assets.

Revenue
Turnover represents net invoices sale of goods and services, excluding value added tax.

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 - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

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 Plastics Limited (Registered number: 04260145)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 August 2023 716,157
Disposals (59,608 )
At 31 July 2024 656,549
DEPRECIATION
At 1 August 2023 508,618
Charge for year 37,477
Eliminated on disposal (47,824 )
At 31 July 2024 498,271
NET BOOK VALUE
At 31 July 2024 158,278
At 31 July 2023 207,539

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 August 2023 600,000
Revaluations 100,000
At 31 July 2024 700,000
NET BOOK VALUE
At 31 July 2024 700,000
At 31 July 2023 600,000

Fair value at 31 July 2024 is represented by:
£
Valuation in 2024 700,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 226,727 449,076
Other debtors 13,137 14,152
239,864 463,228

Prestige Plastics Limited (Registered number: 04260145)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 100,224 118,697
Amounts owed to group undertakings 1,555,775 1,000,000
Taxation and social security 80,670 185,148
Other creditors 56,156 93,834
1,792,825 1,397,679

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 4
(2023 - 4 )
10 Ordinary A shares £1 10 -
110 4

9. RESERVES
Revaluation
reserve
£
Revaluation 100,000

At 31 July 2024 100,000