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Unaudited Financial Statements for the Year Ended 31 March 2017 |
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Prestige Electrical (UK) Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2017 |
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for |
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Prestige Electrical (UK) Ltd |
Prestige Electrical (UK) Ltd (Registered number: 07513341) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Prestige Electrical (UK) Ltd |
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Company Information |
for the Year Ended 31 March 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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16a The Parade |
Yateley |
Hampshire |
GU46 7UN |
Prestige Electrical (UK) Ltd (Registered number: 07513341) |
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Balance Sheet |
31 March 2017 |
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31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
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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. |
Prestige Electrical (UK) Ltd (Registered number: 07513341) |
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Balance Sheet - continued |
31 March 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Prestige Electrical (UK) Ltd (Registered number: 07513341) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Prestige Electrical (UK) Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements for the period ended 31 March 2017 are the first financial statements that comply with FRS 102 |
Section 1A small entities. The date of transition is 1 April 2016. |
The changes in the transition to FRS 102 Section 1A small entities are explained in note 10. |
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Significant judgements and estimates |
There have not been any estimation uncertainties in the application of the accounting policies. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax |
and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and |
liabilities. |
Financial assets are measured at amortised cost and comprise of cash and cash equivalents and trade and other debtors. |
Financial liabilities are measured at amortised cost and comprise of trade and other creditors. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it |
relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
Prestige Electrical (UK) Ltd (Registered number: 07513341) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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3. | ACCOUNTING POLICIES - continued |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors |
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Other debtors |
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Prestige Electrical (UK) Ltd (Registered number: 07513341) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Taxation and social security |
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Other creditors |
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8. | ULTIMATE CONTROLLING PARTY |
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The controlling party is W Pilgram. |
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9. | FIRST YEAR ADOPTION |
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The transition to FRS 102 Section 1A small entities has resulted in no material changes in accounting policies to those |
previously used. |
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