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Registered number: 03761380
Best Prestige Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03761380
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 987 1,319
987 1,319
CURRENT ASSETS
Stocks 5 46,034 55,832
Debtors 6 197,954 197,171
Cash at bank and in hand 14,640 112,898
258,628 365,901
Creditors: Amounts Falling Due Within One Year 7 (105,275 ) (175,475 )
NET CURRENT ASSETS (LIABILITIES) 153,353 190,426
TOTAL ASSETS LESS CURRENT LIABILITIES 154,340 191,745
Creditors: Amounts Falling Due After More Than One Year 8 - (15,833 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (188 ) (251 )
NET ASSETS 154,152 175,661
CAPITAL AND RESERVES
Called up share capital 9 100 100
Other reserves 167 167
Profit and Loss Account 153,885 175,394
SHAREHOLDERS' FUNDS 154,152 175,661
Page 1
Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Verity
Director
30 October 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Best Prestige Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03761380 . The registered office is Unit 6 Wakefield Commercial Park Bridge Road, Horbury Bridge, Wakefield, West Yorkshire, WF4 5NW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was  2 (2024: 2)
2 2
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 April 2024 18,138
As at 31 March 2025 18,138
Depreciation
As at 1 April 2024 16,819
Provided during the period 332
As at 31 March 2025 17,151
Net Book Value
As at 31 March 2025 987
As at 1 April 2024 1,319
5. Stocks
2025 2024
£ £
Materials 46,034 55,832
6. Debtors
2025 2024
£ £
Due within one year
Amounts owed by group undertakings 196,954 196,171
Other debtors 1,000 1,000
197,954 197,171
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Bank loans and overdrafts - 10,000
Other creditors 103,196 146,085
Taxation and social security 2,079 19,390
105,275 175,475
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 15,833
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
The directors of Best Prestige Limited are also directors of Max Thomas Developers Limited.
The company made an interest free loan to Max Thomas Developers Limited and at the end of the year the balance outstanding was £196,954 (2024: £196,171) and is shown within other debtors above.
11. Ultimate Controlling Party
The company's ultimate controlling party is the directors by virtue of their ownership of 100% of the issued share capital in the company.
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