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 2024

Prestige Concrete Products Limited

Financial Statements

Year ended 29 September 2024

Contents	Pages

Statement of financial position	1

Notes to the financial statements	2 to 4

Prestige Concrete Products Limited

Statement of Financial Position

29 September 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	308,009	342,232

Current assets

Debtors	6	9,782	9,782

Creditors: amounts falling due within one year	7	( 480,720)	( 476,639)
		---------	---------
Net current liabilities		( 470,938)	( 466,857)
		---------	---------
Total assets less current liabilities		( 162,929)	( 124,625)

Creditors: amounts falling due after more than one year	8	( 209,433)	( 209,434)
		---------	---------
Net liabilities		( 372,362)	( 334,059)
		---------	---------

Capital and reserves

Called up share capital	9	2	2
Profit and loss account		( 372,364)	( 334,061)
		---------	---------
Shareholders deficit		( 372,362)	( 334,059)
		---------	---------

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 year ending 29 September 2024 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 year 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

Year ended 29 September 2024

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.

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 year amounted to Nil (2023: 2 ).

5. Tangible assets

	Plant and machinery
	£
Cost
At 30 September 2023 and 29 September 2024	487,895
	---------
Depreciation
At 30 September 2023	145,663
Charge for the year	34,223
	---------
At 29 September 2024	179,886
	---------
Carrying amount
At 29 September 2024	308,009
	---------
At 29 September 2023	342,232
	---------

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 2024	264,715
	---------
At 29 September 2023	294,128
	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	9,782	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

	2024	2023
	£	£
Bank loans and overdrafts (secured)	9,116	9,116
Trade creditors	83,226	85,152
Hire purchase agreements (secured)	89,420	89,420
Social security and other taxes	90,789	90,668
Other creditors	208,169	202,283
	---------	---------
	480,720	476,639
	---------	---------

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

	2024	2023
	£	£
Bank loans and overdrafts (secured)	43,891	43,892
Hire purchase agreements (secured)	165,542	165,542
	---------	---------
	209,433	209,434
	---------	---------

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	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.