Registered number
04820319
Prestige Windows & Doors Ltd
Filleted Accounts
31 July 2023
Prestige Windows & Doors Ltd
Registered number: 04820319
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 314,546 301,592
Current assets
Stocks 1,143,610 1,125,257
Debtors 4 396,264 402,914
Cash at bank and in hand 139,055 3,668
1,678,929 1,531,839
Creditors: amounts falling due within one year 5 (672,850) (986,981)
Net current assets 1,006,079 544,858
Total assets less current liabilities 1,320,625 846,450
Creditors: amounts falling due after more than one year 6 (808,613) (366,806)
Net assets 512,012 479,644
Capital and reserves
Called up share capital 5 5
Profit and loss account 512,007 479,639
Shareholders' funds 512,012 479,644
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K P Nandha
Director
Approved by the board on 5 March 2025
Prestige Windows & Doors Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% RB
Vehicles 15% RB
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 458,002 151,691 609,693
Additions - 90,859 90,859
Disposals - (31,120) (31,120)
At 31 July 2023 458,002 211,430 669,432
Depreciation
At 1 August 2022 235,038 73,063 308,101
Charge for the year 33,444 20,654 54,098
On disposals - (7,313) (7,313)
At 31 July 2023 268,482 86,404 354,886
Net book value
At 31 July 2023 189,520 125,026 314,546
At 31 July 2022 222,964 78,628 301,592
4 Debtors 2023 2022
£ £
Trade debtors - 17,650
Other debtors 396,264 385,264
396,264 402,914
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 29,420 12,393
Obligations under finance lease and hire purchase contracts 24,236 14,320
Trade creditors 259,346 636,616
Taxation and social security costs 38,920 8,708
Other creditors 320,928 314,944
672,850 986,981
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,247 28,948
Obligations under finance lease and hire purchase contracts 39,453 18,233
Other creditors 748,913 319,625
808,613 366,806
7 Other information
Prestige Windows & Doors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
156-158 Katherine Road
East Ham
London
E6 1ER
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