REGISTERED NUMBER: 14250153 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

FOR

PRESTIGE SOUTH COAST RENTALS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment property

5

843,992

425,000

CURRENT ASSETS

Debtors

6

14,606

13,930

Cash at bank

10,084

142,605

24,690

156,535

CREDITORS

Amounts falling due within one year

7

6,874

7,899

NET CURRENT ASSETS

17,816

148,636

TOTAL ASSETS LESS CURRENT LIABILITIES

861,808

573,636

CREDITORS

Amounts falling due after more than one year

8

917,780

623,720

NET LIABILITIES

(55,972

)

(50,084

)

CAPITAL AND RESERVES

Called up share capital

11

100

100

Non distributable reserves

12

(52,906

)

(52,906

)

Retained earnings

(3,166

)

2,722

SHAREHOLDERS' FUNDS

(55,972

)

(50,084

)

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 director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 December 2025 and were signed by:

Mr P J O'Donoghue - Director

1.	STATUTORY INFORMATION

Prestige South Coast Rentals Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

14250153

Registered office:

48 St Leonards Road

Bexhill on Sea

East Sussex

TN40 1JB

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The accounts have been prepared on a going concern basis not withstanding the excess of current liabilities over current assets. The director has confirmed their intention to continue to support the company for the foreseeable future.

Turnover

Turnover represents rents receivable by the company during the period.

Investment property

Investment property is shown at the valuation at the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 tax

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

425,000

Additions

418,992

At 31 March 2025

843,992

NET BOOK VALUE

At 31 March 2025

843,992

At 31 March 2024

425,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2023

(35,883

)

Valuation in 2024

(29,433

)

Cost

909,308

843,992

The investment property was valued by the director, Mr P J O'Donoghue on 31 March 2025 at open market value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

315

20

Directors' current accounts

500

-

Deferred tax asset

13,791

12,410

Prepayments and accrued income

-

1,500

14,606

13,930

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Corporation tax

-

722

Other creditors

2,500

4,500

Accruals and deferred income

4,374

2,677

6,874

7,899

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans over 5 years

307,800

128,800

Amount owed to related companies

609,980

494,920

917,780

623,720

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

307,800

128,800

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

307,800

128,800

Bank loans are secured by fixed charges over the company's investment property.

10.	DEFERRED TAX

£

Balance at 1 April 2024

(12,410

)

Provided during year

(1,381

)

Balance at 31 March 2025

(13,791

)

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Non

distributable

reserves

£

At 1 April 2024

and 31 March 2025

(52,906

)

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Amounts due from the director at the balance sheet date total £500 (2024: £Nil). Amounts due are interest-free, unsecured, and repayable on demand.

14.	RELATED PARTY DISCLOSURES

As at 31 March 2025, the company owes £609,980 (2024: £494,920) to it's parent company. This loan is interest free and repayable on demand.