REGISTERED NUMBER: 04262362 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Prestige Developments (Park Homes) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K A Hanger

Mr M I Todd

Mr S Geranio

Mr D C Ray

SECRETARY:

Mr K A Hanger

REGISTERED OFFICE:

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

REGISTERED NUMBER:

04262362 (England and Wales)

ACCOUNTANTS:

Clifford Roberts

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

FIXED ASSETS

Intangible assets

4

1,263

2,527

Tangible assets

5

216,401

226,842

217,664

229,369

CURRENT ASSETS

Stocks

80,581

85,681

Debtors

6

510,983

618,438

Cash at bank and in hand

710,454

428,003

1,302,018

1,132,122

CREDITORS

Amounts falling due within one year

7

475,070

516,255

NET CURRENT ASSETS

826,948

615,867

TOTAL ASSETS LESS CURRENT LIABILITIES

1,044,612

845,236

CREDITORS

Amounts falling due after more than one year

8

(30,222

)

-

PROVISIONS FOR LIABILITIES

(7,737

)

(4,489

)

NET ASSETS

1,006,653

840,747

CAPITAL AND RESERVES

Called up share capital

10

30

30

Retained earnings

1,006,623

840,717

SHAREHOLDERS' FUNDS

1,006,653

840,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

Mr D C Ray - Director

1.	STATUTORY INFORMATION

Prestige Developments (Park Homes) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

Turnover represents net invoices sale of goods and services, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors

Short term debtors are measured at transaction price, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Going concern

Based on forecasts and projections, together with available market information and the directors' knowledge and experience of the industry. The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the company continues to adopt the going concern basis in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2024 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

6,316

AMORTISATION

At 1 April 2024

3,789

Charge for year

1,264

At 31 March 2025

5,053

NET BOOK VALUE

At 31 March 2025

1,263

At 31 March 2024

2,527

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

30,162

748

30,450

Additions

-

550

802

Disposals

-

-

-

At 31 March 2025

30,162

1,298

31,252

DEPRECIATION

At 1 April 2024

29,759

685

24,214

Charge for year

101

153

1,759

Eliminated on disposal

-

-

-

At 31 March 2025

29,860

838

25,973

NET BOOK VALUE

At 31 March 2025

302

460

5,279

At 31 March 2024

403

63

6,236

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

463,322

14,382

539,064

Additions

72,090

-

73,442

Disposals

(66,760

)

-

(66,760

)

At 31 March 2025

468,652

14,382

545,746

DEPRECIATION

At 1 April 2024

246,428

11,136

312,222

Charge for year

69,439

812

72,264

Eliminated on disposal

(55,141

)

-

(55,141

)

At 31 March 2025

260,726

11,948

329,345

NET BOOK VALUE

At 31 March 2025

207,926

2,434

216,401

At 31 March 2024

216,894

3,246

226,842

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

490,317

524,440

Other debtors

12,582

14,282

Directors' current accounts

1,841

74,355

Prepayments

6,243

5,361

510,983

618,438

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 9)

21,333

-

Trade creditors

92,232

84,286

Amounts owed to group undertakings

544

135,543

Tax

105,884

115,803

Social security and other taxes

31,441

30,250

VAT

60,960

85,557

Other creditors

13,034

5,836

Directors' current accounts

-

6,106

Accruals and deferred income

127,105

26,250

Accrued expenses

22,537

26,624

475,070

516,255

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 9)

30,222

-

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

21,333

-

Between one and five years

30,222

-

51,555

-

Non-cancellable

operating leases

2025

2024

£

£

Within one year

17,233

16,792

Between one and five years

17,666

34,899

34,899

51,691

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

30

Ordinary

£1

30

30

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr K A Hanger

Balance outstanding at start of year

37,729

36,570

Amounts advanced

7,612

23,109

Amounts repaid

(44,859

)

(21,950

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

482

37,729

Mr M I Todd

Balance outstanding at start of year

36,523

36,659

Amounts advanced

8,792

21,814

Amounts repaid

(44,859

)

(21,950

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

456

36,523

Mr S Geranio

Balance outstanding at start of year

104

4,714

Amounts advanced

35,784

12,950

Amounts repaid

(35,887

)

(17,560

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1

104

Mr D C Ray

Balance outstanding at start of year

-

-

Amounts advanced

36,788

-

Amounts repaid

(35,887

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

901

-

The interest was charged on loans at 2.25% (2024- 2.25%) and they are repayable on demand.

Overdrawn directors' loan account was repaid within 9 months

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Prestige Developments Limited.

The parent company's registered office is the same as that listed on the information page.

The directors have ultimate control of the company by virtue of their 100% shareholdings (including family holdings) in the parent company.