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Company Registration No. 09984144 (England and Wales)
Prestige Midlands Limited Unaudited accounts for the year ended 28 February 2026
Prestige Midlands Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Prestige Midlands Limited Company Information for the year ended 28 February 2026
Director
Sam Key
Company Number
09984144 (England and Wales)
Registered Office
Suite 31 Stafford Court 178 Stafford Street Wolverhampton WV1 1NA
Accountants
Nellys Accountants Ltd 71 Woodland Avenue Tettenhall Wood Wolverhampton West Midlands WV6 8ND
- 3 -
Prestige Midlands Limited Statement of financial position as at 28 February 2026
2026
2025
Notes
£
£
Fixed assets
Tangible assets
4
36,866
47,981
Current assets
Inventories
54,853
58,492
Debtors
5
750
750
Cash at bank and in hand
714,735
466,360
770,338
525,602
Creditors: amounts falling due within one year
6
(389,423)
(242,277)
Net current assets
380,915
283,325
Total assets less current liabilities
417,781
331,306
Creditors: amounts falling due after more than one year
7
-
(76,054)
Provisions for liabilities
Deferred tax
8
(9,217)
(11,942)
Net assets
408,564
243,310
Capital and reserves
Called up share capital
9
2
2
Profit and loss account
408,562
243,308
Shareholders' funds
408,564
243,310
For the year ending 28 February 2026 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 August 2026 and were signed on its behalf by
Sam Key Director Company Registration No. 09984144
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Prestige Midlands Limited Notes to the Accounts for the year ended 28 February 2026
1
Statutory information
Prestige Midlands Limited is a private company, limited by shares, registered in England and Wales, registration number 09984144. The registered office is Suite 31 Stafford Court, 178 Stafford Street, Wolverhampton, WV1 1NA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
33% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Prestige Midlands Limited Notes to the Accounts for the year ended 28 February 2026
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 March 2025
82,843
2,001
668
85,512
Additions
-
-
1,307
1,307
At 28 February 2026
82,843
2,001
1,975
86,819
Depreciation
At 1 March 2025
36,245
1,062
224
37,531
Charge for the year
11,650
188
584
12,422
At 28 February 2026
47,895
1,250
808
49,953
Net book value
At 28 February 2026
34,948
751
1,167
36,866
At 28 February 2025
46,598
939
444
47,981
5
Debtors
2026
2025
£
£
Amounts falling due within one year
Accrued income and prepayments
750
750
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
5,052
-
VAT
84,604
98,486
Obligations under finance leases and hire purchase contracts
50,671
9,711
Trade creditors
51,522
57,224
Taxes and social security
190,497
74,592
Other creditors
4,782
-
Loans from directors
645
664
Accruals
1,650
1,600
389,423
242,277
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans
-
25,383
Obligations under finance leases and hire purchase contracts
-
50,671
-
76,054
- 6 -
Prestige Midlands Limited Notes to the Accounts for the year ended 28 February 2026
8
Deferred taxation
2026
2025
£
£
Accelerated capital allowances
9,217
11,942
2026
2025
£
£
Provision at start of year
11,942
15,250
Credited to the profit and loss account
(2,725)
(3,308)
Provision at end of year
9,217
11,942
9
Share capital
2026
2025
£
£
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 8 (2025: 8).
- 7 -