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Registered number: 09612512

Prestige Car Hunters Limited

ACCOUNTS
FOR THE YEAR ENDED 31/05/2024

Prepared By:
DBR Accounts Ltd
Association of Chartered Certified Accountants
1 Station Court
Station Approach
Wickford
Essex
SS11 7AT

Prestige Car Hunters Limited

ACCOUNTS
FOR THE YEAR ENDED 31/05/2024
DIRECTORS
K Elicin
E Elicin
REGISTERED OFFICE
34f Moulsham Street
Chelmsford
Essex
CM2 0HX
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 09612512
ACCOUNTANTS
DBR Accounts Ltd
Association of Chartered Certified Accountants
1 Station Court
Station Approach
Wickford
Essex
SS11 7AT

Prestige Car Hunters Limited

ACCOUNTS
FOR THEYEARENDED31/05/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Prestige Car Hunters Limited

BALANCE SHEET AT 31/05/2024
20242023
Notes££
CURRENT ASSETS
Stock70,00065,000
Cash at bank and in hand7,0765,553
77,07670,553
CREDITORS: Amounts falling due within one year368,29356,284
NET CURRENT ASSETS8,78314,269
TOTAL ASSETS LESS CURRENT LIABILITIES8,78314,269
CREDITORS: Amounts falling due after more than one year425,42731,667
NET LIABILITIES(16,644)(17,398)
CAPITAL AND RESERVES
Called up share capital6100100
Profit and loss account(16,744)(17,498)
SHAREHOLDERS' FUNDS(16,644)(17,398)
For the year ending 31/05/2024 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 23/02/2025 and signed on their behalf by
.............................
K Elicin
Director

Prestige Car Hunters Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/05/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
These financial statements have been prepared on a going concern basis. The directors intend to support the company financially in the forseeable future and for not less than at least the next 12 months.
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are initially measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
2. STOCK 20242023
££
Stock comprises:
Stock70,00065,000
70,00065,000

Prestige Car Hunters Limited

3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Directors current account67,27354,394
Accruals1,0201,890
68,29356,284
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Bounce Back Loan25,42731,667
25,42731,667
5. EMPLOYEES
20242023
No.No.
Average number of employees11
6. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
7. RELATED PARTY TRANSACTIONS
During previous periods the company was loaned £55,000 by the director's mother. During the year the company repaid £Nil (2022: £17,600) and was loaned a further £Nil (2022: £21,000), leaving £28,400 (2022: £28,400) to be repaid, which is outstanding at the balance sheet date. The loan is fully repayable on demand.