PRESTIGE FOOD & WINE LIMITED - Filleted accounts

Registered number

05310891

PRESTIGE FOOD & WINE LIMITED

Filleted Accounts

31 March 2025

PRESTIGE FOOD & WINE LIMITED
Registered number:		05310891
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		17,193			17,193
Tangible assets	4		320,731			337,100
			337,924			354,293

Current assets
Stocks		1,047,334			969,750
Debtors	5	1,038,421			535,234
Cash at bank and in hand		79,688			155,107
		2,165,443			1,660,091

Creditors: amounts falling due within one year	6	(858,005)			(965,823)

Net current assets			1,307,438			694,268

Total assets less current liabilities			1,645,362			1,048,561

Creditors: amounts falling due after more than one year	7		(1,185,943)			(583,797)

Provisions for liabilities			(16,322)			(16,322)


Net assets			443,097			448,442

Capital and reserves
Called up share capital			110			110
Profit and loss account			442,987			448,332

Shareholders' funds			443,097			448,442

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.




Massimo Puzone
Director
Approved by the board on 8 July 2025

PRESTIGE FOOD & WINE LIMITED
Notes to the Accounts
for the year ended 31 March 2025


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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:


	Motor Vehicles			20% Reducing balance
	Plant and machinery			20% Reducing balance
	Fixtures, fittings, tools and equipment			20% 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.

	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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					45		45


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 April 2024							17,193
	At 31 March 2025							17,193

	Amortisation
	At 31 March 2025							-

	Net book value
	At 31 March 2025							17,193
	At 31 March 2024							17,193

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Fixture & Fittings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	26,324		186,861		292,195		505,380
	Additions	-		-		59,205		59,205
	At 31 March 2025	26,324		186,861		351,400		564,585

	Depreciation
	At 1 April 2024	7,896		81,333		79,051		168,280
	Charge for the year	-		21,105		54,469		75,574
	At 31 March 2025	7,896		102,438		133,520		243,854

	Net book value
	At 31 March 2025	18,428		84,423		217,880		320,731
	At 31 March 2024	18,428		105,528		213,144		337,100


5	Debtors					2025		2024
£							£

	Trade debtors					385,752		476,791
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					97,250		-
	Prepayments and deposits					499,365		49,728
	Rent Deposit					8,715		8,715
	Other debtors staff loan					47,339		-
						1,038,421		535,234


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					2,283		-
	Trade creditors					730,061		857,211
	Taxation and social security costs					35,145		35,098
	Pension payable					2,976		2,752
	Vat Control					60,040		70,762
	Proposed dividend					27,500		-
						858,005		965,823


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Private Loan					90,000		-
	Bank loans					277,908		372,347
	Loan Funding Circule					292,634		-
	Loan Iwoca					363,996		-
	Obligations under finance lease and hire purchase contracts					65,914		136,970
	Director Loan account					95,491		74,480
						1,185,943		583,797


8	Other information

	PRESTIGE FOOD & WINE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	27 Kingston Road
	South Wimbledon
	SW19 1JX