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REGISTERED NUMBER: 10336350 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

FOR

PRIME IFA LTD

PRIME IFA LTD (REGISTERED NUMBER: 10336350)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRIME IFA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2018







DIRECTORS: M Pettitt
V A Pettitt





REGISTERED OFFICE: 12 Conqueror Court
Sittingbourne
Kent
ME10 5BH





REGISTERED NUMBER: 10336350 (England and Wales)





ACCOUNTANTS: Williams Giles Limited
Chartered Accountants
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

PRIME IFA LTD (REGISTERED NUMBER: 10336350)

BALANCE SHEET
31 AUGUST 2018

2018 2017
Notes £    £   
CURRENT ASSETS
Cash at bank 85,736 62,008

CREDITORS
Amounts falling due within one year 4 21,201 26,344
NET CURRENT ASSETS 64,535 35,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,535

35,664

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 64,435 35,564
SHAREHOLDERS' FUNDS 64,535 35,664

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

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
(b)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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6 November 2018 and were signed on its behalf
by:




M Pettitt - Director



V A Pettitt - Director


PRIME IFA LTD (REGISTERED NUMBER: 10336350)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018

1. STATUTORY INFORMATION

Prime IFA Ltd is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value
added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of financial advisory services is recognised when the commissions become
receivable after the clients have agreed the advice provided.

Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair
value through the profit or loss and are measured subsequently at amortised cost. Prepayments are not financial
instruments.
Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or
less. Cash at bank is measured at face value.

Financial liabilities - trade creditors and other creditors are measured initially at fair value through the profit or
loss and are measured subsequently at amortised cost.

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.

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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

PRIME IFA LTD (REGISTERED NUMBER: 10336350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2018

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Taxation and social security 18,847 18,226
Other creditors 2,354 8,118
21,201 26,344