Company registration number 08194593 (England and Wales)
PRESTIGE CARE (REDCAR WF) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
PRESTIGE CARE (REDCAR WF) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PRESTIGE CARE (REDCAR WF) LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,170,615
-
0
Current assets
-
-
Creditors: amounts falling due within one year
4
(1,230,749)
(57,779)
Net current liabilities
(1,230,749)
(57,779)
Net liabilities
(60,134)
(57,779)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(60,234)
(57,879)
Total equity
(60,134)
(57,779)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 28 April 2025 and are signed on its behalf by:
S Singh
Director
Company Registration No. 08194593
PRESTIGE CARE (REDCAR WF) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Prestige Care (Redcar WF) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Prestige Group c/o Prestige Group Head Office, Roseville Court, Blair Avenue, Ingleby Barwick, Stockton on Tees, TS17 5BL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Notwithstanding the net liabilities the financial statements have been prepared on a going concern basis due to the continued support of the directors and connected companies. true

 

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Tangible fixed assets
Freehold land and buildings
Land - not depreciated
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

PRESTIGE CARE (REDCAR WF) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Financial instruments
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2023
-
0
Additions
1,170,615
At 31 July 2024
1,170,615
Depreciation and impairment
At 1 August 2023 and 31 July 2024
-
0
Carrying amount
At 31 July 2024
1,170,615
At 31 July 2023
-
0
PRESTIGE CARE (REDCAR WF) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,230,749
57,779
5
Related party transactions
2024
2023
Amounts due to related parties
£
£
Connected companies
1,225,965
54,981
2024-07-312023-08-01falsefalsefalse29 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityS SinghR Singh Takhar2025-04-28081945932023-08-012024-07-31081945932024-07-31081945932023-07-3108194593core:LandBuildings2024-07-3108194593core:LandBuildings2023-07-3108194593core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-3108194593core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3108194593core:ShareCapital2024-07-3108194593core:ShareCapital2023-07-3108194593core:RetainedEarningsAccumulatedLosses2024-07-3108194593core:RetainedEarningsAccumulatedLosses2023-07-3108194593bus:Director12023-08-012024-07-3108194593core:LandBuildingscore:OwnedOrFreeholdAssets2023-08-012024-07-31081945932022-08-012023-07-3108194593core:LandBuildings2023-07-3108194593core:LandBuildings2023-08-012024-07-3108194593core:CurrentFinancialInstruments2024-07-3108194593core:CurrentFinancialInstruments2023-07-3108194593bus:PrivateLimitedCompanyLtd2023-08-012024-07-3108194593bus:SmallCompaniesRegimeForAccounts2023-08-012024-07-3108194593bus:FRS1022023-08-012024-07-3108194593bus:AuditExemptWithAccountantsReport2023-08-012024-07-3108194593bus:Director22023-08-012024-07-3108194593bus:FullAccounts2023-08-012024-07-31xbrli:purexbrli:sharesiso4217:GBP