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Registered number: 12305214
Presto Properties Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 12305214
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,201 2,113
Investment Properties 5 410,000 410,000
412,201 412,113
CURRENT ASSETS
Debtors 7,621 303
Cash at bank and in hand 833 4,412
8,454 4,715
Creditors: Amounts Falling Due Within One Year (111,106 ) (112,444 )
NET CURRENT ASSETS (LIABILITIES) (102,652 ) (107,729 )
TOTAL ASSETS LESS CURRENT LIABILITIES 309,549 304,384
Creditors: Amounts Falling Due After More Than One Year (307,500 ) (307,500 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (3,998 ) (3,998 )
NET LIABILITIES (1,949 ) (7,114 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (2,049 ) (7,214 )
SHAREHOLDERS' FUNDS (1,949) (7,114)
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 November 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs Teresa Preston
Director
15/08/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Presto Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12305214 . The registered office is 15 Kelvedon Avenue, Hersham, Walton-On-Thames, KT12 5EB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Fixtures & Fittings 20% on cost
2.5. Investment Properties
All investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Total
£
Cost
As at 1 December 2023 5,281
Additions 1,432
As at 30 November 2024 6,713
Depreciation
As at 1 December 2023 3,168
Provided during the period 1,344
As at 30 November 2024 4,512
...CONTINUED
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Net Book Value
As at 30 November 2024 2,201
As at 1 December 2023 2,113
5. Investment Property
2024
£
Fair Value
As at 1 December 2023 and 30 November 2024 410,000
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mrs Teresa Preston - 6,534 - - 6,534
Mr David Preston - 7,089 - - 7,087
The above loan is unsecured, interest free and repayable on demand.
8. Related Party Transactions
A director is the controlling party of Integrated Airport Solutions Ltd. Other creditors includes a repayable on demand loan of £20,093 from Integrated Airport Solutiosn Ltd.
A director is the controlling party of Tessa Property Limited. Other creditors includes a repayable on demand loan of £26,148 from tessa Prioperty Limited.
9. Ultimate Controlling Party
The company is jointly controlled buy the directors.
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