Registered number
08697867
Prime 4 Services (London) Ltd
Unaudited Filleted Accounts
31 January 2023
Prime 4 Services (London) Ltd
Registered number: 08697867
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,321 21,976
Current assets
Stocks 1,420 1,200
Debtors 4 69,634 70,489
Cash at bank and in hand 19,442 26,386
90,496 98,075
Creditors: amounts falling due within one year 5 (46,259) (45,607)
Net current assets 44,237 52,468
Total assets less current liabilities 60,558 74,444
Creditors: amounts falling due after more than one year 6 (60,424) (74,061)
Net assets 134 383
Capital and reserves
Called up share capital 2 2
Profit and loss account 132 381
Shareholders' funds 134 383
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Marta Singh
Director
Approved by the board on 23 October 2023
Prime 4 Services (London) Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2022 6,440 27,200 33,640
At 31 January 2023 6,440 27,200 33,640
Depreciation
At 1 February 2022 6,224 5,440 11,664
Charge for the year 215 5,440 5,655
At 31 January 2023 6,439 10,880 17,319
Net book value
At 31 January 2023 1 16,320 16,321
At 31 January 2022 216 21,760 21,976
4 Debtors 2023 2022
£ £
Trade debtors 42,465 51,755
Other debtors 27,169 18,734
69,634 70,489
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,967 12,025
Taxation and social security costs 35,292 33,581
Other creditors - 1
46,259 45,607
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 60,424 74,061
Other creditors - -
60,424 74,061
7 Other information
Prime 4 Services (London) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
860-862 Garratt Lane
London
SW17 0NB
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