Registered number
14679319
SI Prestige Builders Limited
Filleted Accounts
28 February 2024
SI Prestige Builders Limited
Registered number: 14679319
Balance Sheet
as at 28 February 2024
Notes 2024
£
Fixed assets
Tangible assets 3 15,000
Current assets
Debtors 4 12,483
Cash at bank and in hand 17,854
30,337
Creditors: amounts falling due within one year 5 (44,482)
Net current liabilities (14,145)
Net assets 855
Capital and reserves
Called up share capital 1
Profit and loss account 854
Shareholder's funds 855
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
M Iqbal
Director
Approved by the board on 16 March 2025
SI Prestige Builders Limited
Notes to the Accounts
for the period from 21 February 2023 to 28 February 2024
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 25% reducing balance
Motor vehicle 25% reducing balance
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.
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 2024
Number
Average number of persons employed by the company 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
Additions 8,000 12,000 20,000
At 28 February 2024 8,000 12,000 20,000
Depreciation
Charge for the period 2,000 3,000 5,000
At 28 February 2024 2,000 3,000 5,000
Net book value
At 28 February 2024 6,000 9,000 15,000
4 Debtors 2024
£
Other debtors 12,483
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 6,203
Other creditors 38,279
44,482
6 Controlling party
The controlling party is M Iqbal (director) by virtue of his 100% ownership of the issued share capital.
7 Other information
SI Prestige Builders Limited is a private company limited by shares and incorporated in England. Its registered office is:
129 Gerald Road
Salford
M6 6BL
SI Prestige Builders Limited 14679319 false 2023-02-21 2024-02-28 2024-02-28 VT Final Accounts July 2024 M Iqbal No description of principal activity 14679319 2023-02-21 2024-02-28 14679319 bus:PrivateLimitedCompanyLtd 2023-02-21 2024-02-28 14679319 bus:AuditExemptWithAccountantsReport 2023-02-21 2024-02-28 14679319 bus:Director40 2023-02-21 2024-02-28 14679319 1 2023-02-21 2024-02-28 14679319 2 2023-02-21 2024-02-28 14679319 core:PlantMachinery 2023-02-21 2024-02-28 14679319 core:Vehicles 2023-02-21 2024-02-28 14679319 countries:England 2023-02-21 2024-02-28 14679319 bus:FRS102 2023-02-21 2024-02-28 14679319 bus:FilletedAccounts 2023-02-21 2024-02-28 14679319 2024-02-28 14679319 core:WithinOneYear 2024-02-28 14679319 core:ShareCapital 2024-02-28 14679319 core:RetainedEarningsAccumulatedLosses 2024-02-28 14679319 core:PlantMachinery 2024-02-28 14679319 core:Vehicles 2024-02-28 14679319 2023-02-20 iso4217:GBP xbrli:pure