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REGISTERED NUMBER: 05110599 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

PRIMEBRIDGE LTD

PRIMEBRIDGE LTD (REGISTERED NUMBER: 05110599)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PRIMEBRIDGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTOR: Mrs J Reiss





SECRETARY: Y Reiss





REGISTERED OFFICE: 57 Moundfield Road
London
N16 6TD





REGISTERED NUMBER: 05110599 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

PRIMEBRIDGE LTD (REGISTERED NUMBER: 05110599)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 466 548
Investment property 5 240,000 240,000
240,466 240,548

CURRENT ASSETS
Debtors 6 48,947 56,154
Cash at bank 5,247 1,485
54,194 57,639
CREDITORS
Amounts falling due within one year 7 (4,951 ) (4,171 )
NET CURRENT ASSETS 49,243 53,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

289,709

294,016

CREDITORS
Amounts falling due after more than one
year

8

(203,505

)

(205,994

)

PROVISIONS FOR LIABILITIES (14,914 ) (14,914 )
NET ASSETS 71,290 73,108

CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 11 63,580 63,580
Retained earnings 11 7,709 9,527
SHAREHOLDERS' FUNDS 71,290 73,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

PRIMEBRIDGE LTD (REGISTERED NUMBER: 05110599)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 10 October 2023 and were signed by:





Mrs J Reiss - Director


PRIMEBRIDGE LTD (REGISTERED NUMBER: 05110599)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Primebridge 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2022
and 30 April 2023 5,191
DEPRECIATION
At 1 May 2022 4,643
Charge for year 82
At 30 April 2023 4,725
NET BOOK VALUE
At 30 April 2023 466
At 30 April 2022 548

PRIMEBRIDGE LTD (REGISTERED NUMBER: 05110599)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022
and 30 April 2023 240,000
NET BOOK VALUE
At 30 April 2023 240,000
At 30 April 2022 240,000

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2015 23,493
Valuation in 2018 40,000
Valuation in 2020 15,000
Cost 161,507
240,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 1 380
Other debtors 48,946 55,774
48,947 56,154

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Directors' current accounts 3,391 3,391
Accrued expenses 1,560 780
4,951 4,171

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans more 5 yrs non-inst 195,794 195,783
Other loans - 2-5 years 7,711 10,211
203,505 205,994

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 195,794 195,783

PRIMEBRIDGE LTD (REGISTERED NUMBER: 05110599)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 195,794 195,783

1. The mortgage is secured by a first charge over the company's investment properties and bear interest at fixed rates.

2. Under the bank loan, £7,711 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2022 9,527 63,580 73,107
Deficit for the year (1,818 ) (1,818 )
At 30 April 2023 7,709 63,580 71,289

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs J Reiss.