IRIS Accounts Production v24.3.2.46 11498061 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114980612023-08-31114980612024-08-31114980612023-09-012024-08-31114980612022-08-31114980612022-09-012023-08-31114980612023-08-3111498061ns15:EnglandWales2023-09-012024-08-3111498061ns14:PoundSterling2023-09-012024-08-3111498061ns10:Director12023-09-012024-08-3111498061ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3111498061ns10:SmallEntities2023-09-012024-08-3111498061ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3111498061ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3111498061ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3111498061ns10:FullAccounts2023-09-012024-08-311149806112023-09-012024-08-3111498061ns10:OrdinaryShareClass12023-09-012024-08-3111498061ns10:Director22023-09-012024-08-3111498061ns10:RegisteredOffice2023-09-012024-08-3111498061ns5:CurrentFinancialInstruments2024-08-3111498061ns5:CurrentFinancialInstruments2023-08-3111498061ns5:Non-currentFinancialInstruments2024-08-3111498061ns5:Non-currentFinancialInstruments2023-08-3111498061ns5:ShareCapital2024-08-3111498061ns5:ShareCapital2023-08-3111498061ns5:RetainedEarningsAccumulatedLosses2024-08-3111498061ns5:RetainedEarningsAccumulatedLosses2023-08-3111498061ns5:NetGoodwill2023-09-012024-08-3111498061ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-08-3111498061ns5:FurnitureFittings2023-09-012024-08-3111498061ns5:ComputerEquipment2023-09-012024-08-3111498061ns5:NetGoodwill2023-08-3111498061ns5:NetGoodwill2024-08-3111498061ns5:NetGoodwill2023-08-3111498061ns5:FurnitureFittings2023-08-3111498061ns5:ComputerEquipment2023-08-3111498061ns5:FurnitureFittings2024-08-3111498061ns5:ComputerEquipment2024-08-3111498061ns5:FurnitureFittings2023-08-3111498061ns5:ComputerEquipment2023-08-3111498061ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3111498061ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3111498061ns5:DeferredTaxation2023-08-3111498061ns5:DeferredTaxation2023-09-012024-08-3111498061ns5:DeferredTaxation2024-08-3111498061ns10:OrdinaryShareClass12024-08-31
REGISTERED NUMBER: 11498061 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

MORTIMERS (PRESTIGE) LTD

MORTIMERS (PRESTIGE) LTD (REGISTERED NUMBER: 11498061)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORTIMERS (PRESTIGE) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: M J Gooda
Mrs R F Gooda





REGISTERED OFFICE: Units B & C
Daux Road
Billingshurst
West Sussex
RH14 9SJ





REGISTERED NUMBER: 11498061 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

MORTIMERS (PRESTIGE) LTD (REGISTERED NUMBER: 11498061)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,315 4,669
3,315 4,669

CURRENT ASSETS
Stocks 574,148 588,652
Debtors 6 16,233 12,322
Cash at bank 144,037 95,261
734,418 696,235
CREDITORS
Amounts falling due within one year 7 240,084 237,311
NET CURRENT ASSETS 494,334 458,924
TOTAL ASSETS LESS CURRENT LIABILITIES 497,649 463,593

CREDITORS
Amounts falling due after more than one
year

8

(12,234

)

(22,435

)

PROVISIONS FOR LIABILITIES 9 (807 ) (992 )
NET ASSETS 484,608 440,166

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 484,508 440,066
SHAREHOLDERS' FUNDS 484,608 440,166

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

MORTIMERS (PRESTIGE) LTD (REGISTERED NUMBER: 11498061)

BALANCE SHEET - continued
31 AUGUST 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 13 March 2025 and were signed on its behalf by:





M J Gooda - Director


MORTIMERS (PRESTIGE) LTD (REGISTERED NUMBER: 11498061)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Mortimers (Prestige) Ltd 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
Revenue is measured at fair value of the consideration received or receivable excluding value added tax. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of cars and warranties is recognised when the legal title has passed.

Revenue from vehicle servicing is recognised when the service has been completed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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.


MORTIMERS (PRESTIGE) LTD (REGISTERED NUMBER: 11498061)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 36,000
AMORTISATION
At 1 September 2023
and 31 August 2024 36,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

MORTIMERS (PRESTIGE) LTD (REGISTERED NUMBER: 11498061)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023 5,276 951 6,227
Additions 586 - 586
Disposals - (559 ) (559 )
At 31 August 2024 5,862 392 6,254
DEPRECIATION
At 1 September 2023 1,228 330 1,558
Charge for year 1,346 35 1,381
At 31 August 2024 2,574 365 2,939
NET BOOK VALUE
At 31 August 2024 3,288 27 3,315
At 31 August 2023 4,048 621 4,669

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,998 5,308
Other debtors 11,235 7,014
16,233 12,322

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,204 9,952
Trade creditors 102,931 102,158
Taxation and social security 72,684 68,425
Other creditors 54,265 56,776
240,084 237,311

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,234 22,435

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 807 992

MORTIMERS (PRESTIGE) LTD (REGISTERED NUMBER: 11498061)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 992
Credit to Statement of Income and Retained Earnings during year (185 )
Balance at 31 August 2024 807

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100