IRIS Accounts Production v24.3.2.46 10276593 Board of Directors 1.8.23 31.7.24 31.7.24 false true false false false true false A Ordinary 100.00000 B Ordinary 100.00000 C Ordinary 100.00000 D Ordinary 100.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh102765932023-07-31102765932024-07-31102765932023-08-012024-07-31102765932022-07-31102765932022-08-012023-07-31102765932023-07-3110276593ns15:EnglandWales2023-08-012024-07-3110276593ns14:PoundSterling2023-08-012024-07-3110276593ns10:Director12023-08-012024-07-3110276593ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3110276593ns10:SmallEntities2023-08-012024-07-3110276593ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3110276593ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3110276593ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3110276593ns10:FullAccounts2023-08-012024-07-311027659312023-08-012024-07-3110276593ns10:OrdinaryShareClass12023-08-012024-07-3110276593ns10:OrdinaryShareClass22023-08-012024-07-3110276593ns10:OrdinaryShareClass32023-08-012024-07-3110276593ns10:OrdinaryShareClass42023-08-012024-07-3110276593ns10:Director22023-08-012024-07-3110276593ns10:CompanySecretary12023-08-012024-07-3110276593ns10:RegisteredOffice2023-08-012024-07-3110276593ns5:CurrentFinancialInstruments2024-07-3110276593ns5:CurrentFinancialInstruments2023-07-3110276593ns5:Non-currentFinancialInstruments2024-07-3110276593ns5:Non-currentFinancialInstruments2023-07-3110276593ns5:ShareCapital2024-07-3110276593ns5:ShareCapital2023-07-3110276593ns5:RetainedEarningsAccumulatedLosses2024-07-3110276593ns5:RetainedEarningsAccumulatedLosses2023-07-3110276593ns5:NetGoodwill2023-08-012024-07-3110276593ns5:NetGoodwill2023-07-3110276593ns5:NetGoodwill2024-07-3110276593ns5:NetGoodwill2023-07-3110276593ns5:FurnitureFittings2023-07-3110276593ns5:ComputerEquipment2023-07-3110276593ns5:FurnitureFittings2023-08-012024-07-3110276593ns5:ComputerEquipment2023-08-012024-07-3110276593ns5:FurnitureFittings2024-07-3110276593ns5:ComputerEquipment2024-07-3110276593ns5:FurnitureFittings2023-07-3110276593ns5:ComputerEquipment2023-07-3110276593ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3110276593ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3110276593ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-07-3110276593ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-07-3110276593ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-07-3110276593ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-07-3110276593ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-07-3110276593ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-07-3110276593ns10:OrdinaryShareClass12024-07-3110276593ns10:OrdinaryShareClass22024-07-3110276593ns10:OrdinaryShareClass32024-07-3110276593ns10:OrdinaryShareClass42024-07-31102765931ns10:Director12023-07-31102765931ns10:Director12022-07-31102765931ns10:Director12023-08-012024-07-31102765931ns10:Director12022-08-012023-07-31102765931ns10:Director12024-07-31102765931ns10:Director12023-07-3110276593ns10:Director222023-07-3110276593ns10:Director222022-07-3110276593ns10:Director222023-08-012024-07-3110276593ns10:Director222022-08-012023-07-3110276593ns10:Director222024-07-3110276593ns10:Director222023-07-31
REGISTERED NUMBER: 10276593 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

PRESTIGE FINANCIAL SOLUTIONS (HOLDINGS)
LIMITED

PRESTIGE FINANCIAL SOLUTIONS (HOLDINGS)
LIMITED (REGISTERED NUMBER: 10276593)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESTIGE FINANCIAL SOLUTIONS (HOLDINGS)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr P Inger
Mr P C Hurt





SECRETARY: Mr P Inger





REGISTERED OFFICE: Matrix Business Centre
Nobel Way
Dinnington
Sheffield
S25 3QB





REGISTERED NUMBER: 10276593 (England and Wales)





ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

PRESTIGE FINANCIAL SOLUTIONS (HOLDINGS)
LIMITED (REGISTERED NUMBER: 10276593)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 3,000
Tangible assets 5 8,259 9,148
10,259 12,148

CURRENT ASSETS
Debtors 6 256,393 241,576
Cash at bank 175,505 178,303
431,898 419,879
CREDITORS
Amounts falling due within one year 7 59,234 67,096
NET CURRENT ASSETS 372,664 352,783
TOTAL ASSETS LESS CURRENT LIABILITIES 382,923 364,931

CREDITORS
Amounts falling due after more than
one year

8

(26,848

)

(32,405

)

PROVISIONS FOR LIABILITIES (1,815 ) (2,287 )
NET ASSETS 354,260 330,239

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 344,260 320,239
SHAREHOLDERS' FUNDS 354,260 330,239

PRESTIGE FINANCIAL SOLUTIONS (HOLDINGS)
LIMITED (REGISTERED NUMBER: 10276593)

BALANCE SHEET - continued
31 JULY 2024


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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





Mr P Inger - Director


PRESTIGE FINANCIAL SOLUTIONS (HOLDINGS)
LIMITED (REGISTERED NUMBER: 10276593)

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

1. STATUTORY INFORMATION

Prestige Financial Solutions (Holdings) Limited 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

When the outcome of a transaction can be estimated reliably, turnover from mortgage brokering is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to completion date of mortgage.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 10 years. Provision is made for any impairment.

PRESTIGE FINANCIAL SOLUTIONS (HOLDINGS)
LIMITED (REGISTERED NUMBER: 10276593)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:


Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost / 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

PRESTIGE FINANCIAL SOLUTIONS (HOLDINGS)
LIMITED (REGISTERED NUMBER: 10276593)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 10,000
AMORTISATION
At 1 August 2023 7,000
Amortisation for year 1,000
At 31 July 2024 8,000
NET BOOK VALUE
At 31 July 2024 2,000
At 31 July 2023 3,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023 10,294 14,816 25,110
Additions - 1,700 1,700
At 31 July 2024 10,294 16,516 26,810
DEPRECIATION
At 1 August 2023 6,344 9,618 15,962
Charge for year 790 1,799 2,589
At 31 July 2024 7,134 11,417 18,551
NET BOOK VALUE
At 31 July 2024 3,160 5,099 8,259
At 31 July 2023 3,950 5,198 9,148

PRESTIGE FINANCIAL SOLUTIONS (HOLDINGS)
LIMITED (REGISTERED NUMBER: 10276593)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Amounts owed by associates 140,762 95,657
Other debtors 10,950 79,756
Directors' current accounts 94,681 56,163
Called up share capital not paid 10,000 10,000
256,393 241,576

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 5,556 5,556
Corporation tax 49,458 55,899
Social security and other taxes 1,827 2,761
Other creditors 659 -
Accruals and deferred income 1,734 2,880
59,234 67,096

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans - 1-2 years 5,556 5,556
Bank loans - 2-5 years 11,113 11,113
Bank loans more 5 yr by instal 10,179 15,736
26,848 32,405

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,179 15,736

PRESTIGE FINANCIAL SOLUTIONS (HOLDINGS)
LIMITED (REGISTERED NUMBER: 10276593)

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

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
45 A Ordinary £100 4,500 4,500
45 B Ordinary £100 4,500 4,500
5 C Ordinary £100 500 500
5 D Ordinary £100 500 500
10,000 10,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
Mr P Inger
Balance outstanding at start of year 25,143 19,180
Amounts advanced 24,813 25,143
Amounts repaid (16,080 ) (19,180 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,876 25,143

Mr P C Hurt
Balance outstanding at start of year 31,020 12,015
Amounts advanced 46,053 31,020
Amounts repaid (16,266 ) (12,015 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,807 31,020

11. RELATED PARTY DISCLOSURES

During the year there were transactions with Prestige Cottages & Property Management Ltd, a company which shares common directors and shareholders. At the end of the year Prestige Cottages & Property Management Ltd owed the company £140,662 (2023 £94,657).