ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 May 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 06912229

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MAY 2025

	PRESTIGE ASSET FINANCE LIMITED


PRESTIGE ASSET FINANCE LIMITED

COMPANY INFORMATION

Directors	J Constantinou
	A Zamfirescu


Registered number	06912229


Registered office	164 - 166 High Street
	Guildford
	Surrey
	GU1 3HW


Accountants	Menzies LLP
	Chartered Accountants
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	TW18 4BP


PRESTIGE ASSET FINANCE LIMITED

CONTENTS

	Page
Accountants' report	1
Statement of financial position	2 - 3
Notes to the financial statements	4 - 10


PRESTIGE ASSET FINANCE LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PRESTIGE ASSET FINANCE LIMITED
FOR THE YEAR ENDED 31 MAY 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Prestige Asset Finance Limited for the year ended 31 May 2025 which comprise the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given to us.

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at: www.icaew.com/regulation.

This report is made solely to the Board of directors of Prestige Asset Finance Limited, as a body, in accordance with the terms of our engagement letter dated 27 April 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Prestige Asset Finance Limited and state those matters that we have agreed to state to the Board of directors of Prestige Asset Finance Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prestige Asset Finance Limited and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that Prestige Asset Finance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Prestige Asset Finance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Prestige Asset Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

$AccRepSigner

Menzies LLP

Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP

2 October 2025

$AccRepSignerDate

Page 1


PRESTIGE ASSET FINANCE LIMITED REGISTERED NUMBER:06912229

STATEMENT OF FINANCIAL POSITION

AS AT 31 MAY 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		19,746		5,992
Tangible assets	5		606,989		674,109
			626,735		680,101
Current assets
Stocks		3,590,814		2,682,304
Debtors: amounts falling due within one year	6	11,944,721		12,035,640
Cash at bank and in hand		1,740,759		1,474,728
		17,276,294		16,192,672
Creditors: amounts falling due within one year	7	(4,209,104)		(4,847,346)
Net current assets			13,067,190		11,345,326
Total assets less current liabilities			13,693,925		12,025,427
Creditors: amounts falling due after more than one year	8		(4,494,413)		(3,866,146)
Provisions for liabilities
Deferred tax		(84,579)		(104,442)
			(84,579)		(104,442)
Net assets			9,114,933		8,054,839

Capital and reserves
Called up share capital	200	200
Profit and loss account	9,114,733	8,054,639
	9,114,933	8,054,839

Page 2


PRESTIGE ASSET FINANCE LIMITED REGISTERED NUMBER:06912229

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MAY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

J Constantinou

Director

Date: 2 October 2025

The notes on pages 4 to 10 form part of these financial statements.

Page 3


PRESTIGE ASSET FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1.	General information

Prestige Asset Finance Limited 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

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

Revenue

Revenue shown in the Income Statement represents amount earnt from interest on loans and monies received for sales of goods provided during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership has been transferred to the buyer (usually on sale of the goods at the till or online receipt).
Revenue generated from interest charged on loans is recognised over time to the extent that there is a right to consideration.

2.5

Operating leases

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4


PRESTIGE ASSET FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 5


PRESTIGE ASSET FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

Website costs

25%

Reducing balance

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method or on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property	-	2%	Straight line
Leasehold property	-		Over the term of the lease
Motor vehicles	-	25%	Reducing balance
Fixtures and fittings	-	25%	Reducing balance
Office equipment	-	25%	Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 6


PRESTIGE ASSET FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Employees

The average monthly number of employees, including directors, during the year was 48 (2024 - 48).

4.	Intangible assets

		Website costs
		£
	Cost
	At 1 June 2024	7,990
	Additions	20,336
	At 31 May 2025	28,326
	Amortisation
	At 1 June 2024	1,998
	Charge for the year on owned assets	6,582
	At 31 May 2025	8,580
	Net book value
	At 31 May 2025	19,746
	At 31 May 2024	5,992

Page 7


PRESTIGE ASSET FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

5.	Tangible fixed assets

	Leasehold property	Motor vehicles	Fixtures and fittings	Office equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 June 2024	15,265	17,850	1,659,381	207,867	1,900,363
Additions	-	-	90,597	43,711	134,308
At 31 May 2025	15,265	17,850	1,749,978	251,578	2,034,671
Depreciation
At 1 June 2024	6,784	8,613	1,075,302	135,555	1,226,254
Charge for the year on owned assets	1,233	2,310	168,728	29,157	201,428
At 31 May 2025	8,017	10,923	1,244,030	164,712	1,427,682
Net book value
At 31 May 2025	7,248	6,927	505,948	86,866	606,989
At 31 May 2024	8,481	9,237	584,079	72,312	674,109

Page 8


PRESTIGE ASSET FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Debtors

					2025	2024
					£	£


Trade debtors	6,607,983	6,199,512
Amounts owed by group undertakings	242,559	270,004
Other debtors	41,050	41,050
Prepayments	507,235	509,581
Accrued income	4,545,894	5,015,493
	11,944,721	12,035,640

An amount of £5,015,493 has been reclassified from trade debtors to accrued income to reflect the true nature of the balance.

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	8,668	8,343
Other loans	324,166	251,034
Trade creditors	319,910	265,936
Amounts owed to related parties	105,832	135,898
Corporation tax	395,254	288,547
Other taxation and social security	115,305	95,920
Other creditors	2,849,106	3,690,924
Accruals and deferred income	90,863	110,744
	4,209,104	4,847,346

Other loans are secured by a guarantee from the subsidiary company; Prestige Pawnbrokers Limited and also a personal guarantee by J Constantinou, a director, in respect of the other loan facilities of £1,000,000.

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	6,983	16,605
Other loans	4,487,430	3,849,541
	4,494,413	3,866,146

Page 9


PRESTIGE ASSET FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Not later than 1 year	431,167	545,250
Later than 1 year and not later than 5 years	722,333	1,178,750
Later than 5 years	125,000	228,333
	1,278,500	1,952,333

10.

Related party transactions

At 1 June 2024, J Constantino was owed by the company £263,611. During the year further advances were made of £3,241 and repayments of £93,035. At 31 May 2025, an amount of £173,817 was owed to J Constantino from the company which is shown within creditors. No interest was charged on these amounts.
At 1 June 2024, a company under common control was owed £135,898 by the company. During the year repayments were made of £30,066. At 31 May 2025, an amount of £105,832 was owed by the company which is shown within creditors under amounts owed to related parties. No interest was charged on these amounts.

Page 10