Company registration number 12993292 (England and Wales)
PRESTIGE HOSPITALITY HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PRESTIGE HOSPITALITY HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PRESTIGE HOSPITALITY HOLDINGS LIMITED
BALANCE SHEET
AS AT
29 DECEMBER 2024
29 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
657,205
678,343
Investments
4
-
0
110
657,205
678,453
Current assets
Debtors
5
100
100
Creditors: amounts falling due within one year
6
(218,828)
(454,924)
Net current liabilities
(218,728)
(454,824)
Total assets less current liabilities
438,477
223,629
Creditors: amounts falling due after more than one year
7
(261,221)
(374,529)
Net assets/(liabilities)
177,256
(150,900)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
177,156
(151,000)
Total equity
177,256
(150,900)

For the financial year ended 29 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 19 March 2026
Mr J Reynolds
Director
Company registration number 12993292 (England and Wales)
PRESTIGE HOSPITALITY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Prestige Hospitality Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
3% Reducing Balance
Leasehold improvements
3% Reducing Balance
Fixtures and fittings
15% Reducing Balance
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PRESTIGE HOSPITALITY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

Taxation for the period 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 tax

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 period 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.

PRESTIGE HOSPITALITY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2024
- 4 -
2
Employees

The average monthly number of persons employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 31 December 2023 and 29 December 2024
732,120
9,868
741,988
Depreciation and impairment
At 31 December 2023
60,344
3,301
63,645
Depreciation charged in the year
20,153
985
21,138
At 29 December 2024
80,497
4,286
84,783
Carrying amount
At 29 December 2024
651,623
5,582
657,205
At 30 December 2023
671,776
6,567
678,343
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
-
0
110
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by participating interests
100
100
PRESTIGE HOSPITALITY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7,846
7,846
Trade creditors
-
0
1,393
Amounts owed to group undertakings and undertakings in which the company has a participating interest
164,648
400,576
Other creditors
46,334
45,109
218,828
454,924
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
261,221
374,529
8
Secured debts

There is a fixed and floating charge over the property at 47 Robertson Street, Hastings, East Sussex, TN34 1HL, 48 Robertson Street, Hastings, East Sussex, TN34 1HL, and 49 Robertson Street, Hastings, East Sussex, TN34 1HL.

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