General Information
Prestige Property International Limited is a private company, limited by shares, registered in , registration number 05299070, registration address Suite 4 The Granary, 50 Barton Road, Worsley, M28 2EB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures and Fittings |
15% Reducing Balance
|
| Computer Equipment |
15% Reducing Balance
|
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 9 (2024 : 9).
|
| 3. |
Intangible fixed assets
| Cost |
Goodwill |
|
Total |
| |
£ |
|
£ |
| At 31 August 2024 |
240,000 |
|
240,000 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 30 August 2025 |
240,000 |
|
240,000 |
| Amortisation |
| At 31 August 2024 |
229,000 |
|
229,000 |
| Charge for year |
18,000 |
|
18,000 |
| On disposals |
- |
|
- |
| At 30 August 2025 |
247,000 |
|
247,000 |
| Net book values |
| At 30 August 2025 |
(7,000) |
|
(7,000) |
| At 30 August 2024 |
11,000 |
|
11,000 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 31 August 2024 |
31,532 |
|
10,822 |
|
42,354 |
| Additions |
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
| At 30 August 2025 |
31,532 |
|
10,822 |
|
42,354 |
| Depreciation |
| At 31 August 2024 |
29,164 |
|
9,177 |
|
38,341 |
| Charge for year |
592 |
|
411 |
|
1,003 |
| On disposals |
- |
|
- |
|
- |
| At 30 August 2025 |
29,756 |
|
9,588 |
|
39,344 |
| Net book values |
| Closing balance as at 30 August 2025 |
1,776 |
|
1,234 |
|
3,010 |
| Opening balance as at 31 August 2024 |
2,368 |
|
1,645 |
|
4,013 |
|
2
|