Company Registration No. 03524275 (England and Wales)
Prestige Media Limited
Unaudited accounts
for the year ended 31 December 2022
Prestige Media Limited
Unaudited accounts
Contents
Prestige Media Limited
Company Information
for the year ended 31 December 2022
Directors
Jeremy Cowan
Nathalie Millar
Company Number
03524275 (England and Wales)
Registered Office
Suite 138, 80 Churchill Square
Kings Hill
West Malling
ME19 4YU
Accountants
KMA Spotlight
124 City Road
London
EC1V 2NX
Prestige Media Limited
Statement of financial position
as at 31 December 2022
Cash at bank and in hand
16,940
61,754
Creditors: amounts falling due within one year
(84,258)
(92,161)
Net current assets
28,666
4,993
Total assets less current liabilities
28,670
5,023
Creditors: amounts falling due after more than one year
(1)
(1)
Called up share capital
195,000
195,000
Share premium
53,000
53,000
Profit and loss account
(219,331)
(242,978)
Shareholders' funds
28,669
5,022
For the year ending 31 December 2022 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 directors acknowledge their 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 of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by
Nathalie Millar
Director
Company Registration No. 03524275
Prestige Media Limited
Notes to the Accounts
for the year ended 31 December 2022
Prestige Media Limited is a private company, limited by shares, registered in England and Wales, registration number 03524275. The registered office is Suite 138, 80 Churchill Square, Kings Hill, West Malling, ME19 4YU.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
25% straight-line basis
Fixtures & fittings
25% straight-line basis
Computer equipment
25% straight-line basis
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.
Turnover from a contract to provide services is recognised in the year in which the services are provided in accordance with the stage of completion of the contract when all of following conditions are satisfied:
- the amount of revenue can be measured reliably,
- it is probable that the company will recieve the consideration due under the contract,
- the stage of completion of the contract at the end of the reporting period can be measured reliably,
- the costs incurred and the costs to complete the contract can be measured reliably.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade, other debtors and creditors, loans from banks and other third parties, loans to related parties, loans to related parties and investments in ordinary activities.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Prestige Media Limited
Notes to the Accounts
for the year ended 31 December 2022
The company operates a defined contribution scheme for the benefit of its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligations.
Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Fixtures & fittings
At 31 December 2022
40,322
At 31 December 2022
40,318
Amounts falling due within one year
Trade debtors
84,784
31,395
Other debtors
11,200
4,005
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Creditors: amounts falling due within one year
2022
2021
Trade creditors
6,937
4,217
Amounts owed to group undertakings and other participating interests
61
68,578
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Creditors: amounts falling due after more than one year
2022
2021
8
Average number of employees
During the year the average number of employees was 2 (2021: 2).