Prestige Concrete Products Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12223170

Prestige Concrete Products Limited

Filleted Unaudited Financial Statements

29 September 2023

Prestige Concrete Products Limited

Financial Statements

Period from 1 October 2022 to 29 September 2023

Contents	Pages

Statement of financial position	1

Notes to the financial statements	2 to 5

Prestige Concrete Products Limited

Statement of Financial Position

29 September 2023

	29 Sep 23	30 Sep 22
Note	£	£

Fixed assets

Tangible assets	5	342,232	380,258

Current assets

Stocks		–	296,766
Debtors	6	9,782	–
Cash at bank and in hand		–	754
		-------	---------
		9,782	297,520

Creditors: amounts falling due within one year	7	( 476,639)	( 451,865)
		---------	---------
Net current liabilities		( 466,857)	( 154,345)
		---------	---------
Total assets less current liabilities		( 124,625)	225,913

Creditors: amounts falling due after more than one year	8	( 209,434)	( 210,601)
		---------	---------
Net (liabilities)/assets		( 334,059)	15,312
		---------	---------

Capital and reserves

Called up share capital	9	2	2
Profit and loss account		( 334,061)	15,310
		---------	--------
Shareholders (deficit)/funds		( 334,059)	15,312
		---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 29 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

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

These financial statements were approved by the board of directors and authorised for issue on 28 August 2025 , and are signed on behalf of the board by:

Mr C M Griffiths	Mr J N Griffiths
Director	Director

Company registration number: 12223170

Prestige Concrete Products Limited

Notes to the Financial Statements

Period from 1 October 2022 to 29 September 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Imperial House, Ellis Avenue, Haverfordwest, Pembrokeshire, SA61 1NU.

2. Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	10% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 2 (2022: 3 ).

5. Tangible assets

	Plant and machinery
	£
Cost
At 1 October 2022 and 29 September 2023	487,895
	---------
Depreciation
At 1 October 2022	107,637
Charge for the period	38,026
	---------
At 29 September 2023	145,663
	---------
Carrying amount
At 29 September 2023	342,232
	---------
At 30 September 2022	380,258
	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 29 September 2023	294,128
	---------
At 30 September 2022	326,809
	---------

6. Debtors

	29 Sep 23	30 Sep 22
	£	£
Trade debtors	9,782	–
	-------	----

Other debtors include an amount of £Nil (2023 - £Nil) falling due after more than one year.

7. Creditors: amounts falling due within one year

	29 Sep 23	30 Sep 22
	£	£
Bank loans and overdrafts (secured)	9,116	12,290
Trade creditors	85,152	103,821
Hire purchase agreements (secured)	89,420	132,886
Social security and other taxes	90,668	67,999
Other creditors	202,283	134,869
	---------	---------
	476,639	451,865
	---------	---------

8. Creditors: amounts falling due after more than one year

	29 Sep 23	30 Sep 22
	£	£
Bank loans and overdrafts (secured)	43,892	44,483
Hire purchase agreements (secured)	165,542	166,118
	---------	---------
	209,434	210,601
	---------	---------

9. Called up share capital

Issued, called up and fully paid

	29 Sep 23		30 Sep 22
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

10. Related party transactions

The company was under the control of Mr C M Griffiths and Mr J N Griffiths , the managing directors, throughout the current and previous year by virtue of their combined interest in 100% of the issued ordinary share capital. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.