NORTH EAST PRESTIGE HOMES LTD 31/03/2025 iXBRL

Company registration number: 08070315

NORTH EAST PRESTIGE HOMES LTD

Unaudited filleted financial statements

31 March 2025

NORTH EAST PRESTIGE HOMES LTD

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

NORTH EAST PRESTIGE HOMES LTD

Directors and other information


	Directors	P Charlton
		Mrs K A-M Charlton


	Company number	08070315


	Registered office	474 Durham Road
		Low Fell
		Gateshead
		Tyne & Wear


	Business address	474 Durham Road
		Low Fell
		Gateshead
		Tyne & Wear




	Bankers	Virgin Money PLC
		29-31 Pilgrim Street
		Newcastle upon Tyne

NORTH EAST PRESTIGE HOMES LTD

Statement of financial position

31st March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	84,751		103,604
		_______		_______
			84,751		103,604

Current assets
Stocks		615,459		1,063,072
Debtors	6	161,431		146,001
Cash at bank and in hand		662,001		94,412
		_______		_______
		1,438,891		1,303,485
Creditors: amounts falling due
within one year	7	( 87,760)		( 88,487)
		_______		_______
Net current assets			1,351,131		1,214,998
			_______		_______
Total assets less current liabilities			1,435,882		1,318,602


Provisions for liabilities			( 21,188)		( 25,901)

			_______		_______
Net assets			1,414,694		1,292,701
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			1,414,594		1,292,601
			_______		_______
Shareholder funds			1,414,694		1,292,701
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The member has 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 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.

These financial statements were approved by the board of directors and authorised for issue on 18 September 2025 , and are signed on behalf of the board by:

P Charlton

Director

Company registration number: 08070315

NORTH EAST PRESTIGE HOMES LTD

Notes to the financial statements

Year ended 31st March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is NORTH EAST PRESTIGE HOMES LTD, 474 Durham Road, Low Fell, Gateshead, Tyne & Wear.

2. Statement of compliance

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

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.

Turnover

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. 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 are 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 stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 3 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1st April 2024	528	-	151,840	152,368
Additions	-	2,189	-	2,189
	_______	_______	_______	_______
At 31st March 2025	528	2,189	151,840	154,557
	_______	_______	_______	_______
Depreciation
At 1st April 2024	384	-	48,380	48,764
Charge for the year	22	328	20,692	21,042
	_______	_______	_______	_______
At 31st March 2025	406	328	69,072	69,806
	_______	_______	_______	_______
Carrying amount
At 31st March 2025	122	1,861	82,768	84,751
	_______	_______	_______	_______
At 31st March 2024	144	-	103,460	103,604
	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	12,271	10,177
Other debtors	149,160	135,824
	_______	_______
	161,431	146,001
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	12,326	8,063
Corporation tax	58,405	28,634
Social security and other taxes	9,083	6,645
Other creditors	7,946	45,145
	_______	_______
	87,760	88,487
	_______	_______

8. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	P Charlton	125,180	381,455	( 368,094)	138,541
	Mrs K A-M Charlton	-	-	-	-
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	P Charlton	142,492	340,508	( 357,820)	125,180
	Mrs K A-M Charlton	10,000	40,000	( 90,000)	( 40,000)
		_______	_______	_______	_______
		152,492	380,508	( 447,820)	85,180
		_______	_______	_______	_______

The above loan is unsecured, interest free and repayable on demand.

9. Controlling party

The controlling party is Mr P Charlton , a director .