Registered number
04266554
Prestige Healthcare (London) Limited
Filleted Accounts
31 July 2024
Prestige Healthcare (London) Limited
Registered number: 04266554
Draft Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 104,551 100,183
Current assets
Stocks 220,000 140,000
Debtors 4 530,452 603,740
Cash at bank and in hand 514,092 116,055
1,264,544 859,795
Creditors: amounts falling due within one year 5 (378,004) (165,563)
Net current assets 886,540 694,232
Total assets less current liabilities 991,091 794,415
Creditors: amounts falling due after more than one year 6 (348,010) (318,950)
Net assets 643,081 475,465
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 642,081 474,465
Shareholder's funds 643,081 475,465
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.
Mr R Affutu-Nartey
Director
Approved by the board on 26 March 2025
Prestige Healthcare (London) Limited
Notes to the Draft Accounts
for the year ended 31 July 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 22,457 152,392 2,195 177,044
Additions - 15,614 - 15,614
At 31 July 2024 22,457 168,006 2,195 192,658
Depreciation
At 1 August 2023 - 75,242 1,619 76,861
Charge for the year - 11,131 115 11,246
At 31 July 2024 - 86,373 1,734 88,107
Net book value
At 31 July 2024 22,457 81,633 461 104,551
At 31 July 2023 22,457 77,150 576 100,183
4 Debtors 2024 2023
£ £
Trade debtors 293,125 254,725
Amounts owed by group undertakings and undertakings in which the company has a participating interest 222,732 349,015
Factoring (320) -
Other debtors 14,915 -
530,452 603,740
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,579 3,972
Trade creditors (20,378) (149,265)
Factoring 111,518 175,860
Taxation and social security costs 281,285 134,996
378,004 165,563
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,650 28,794
Obligations under finance lease and hire purchase contracts (15,750) (15,750)
Other creditors 350,110 305,906
348,010 318,950
7 Other information
Prestige Healthcare (London) Limited is a private company limited by shares and incorporated in England. Its registered office is:
5-7 Church Hill Road
East Barnet
Herts
EN4 8SY
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