Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30false2022-07-01No description of principal activity2117truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC143944 2022-07-01 2023-06-30 SC143944 2021-07-01 2022-06-30 SC143944 2023-06-30 SC143944 2022-06-30 SC143944 c:Director1 2022-07-01 2023-06-30 SC143944 c:Director2 2022-07-01 2023-06-30 SC143944 c:Director3 2022-07-01 2023-06-30 SC143944 c:Director3 2023-06-30 SC143944 c:RegisteredOffice 2022-07-01 2023-06-30 SC143944 d:PlantMachinery 2022-07-01 2023-06-30 SC143944 d:PlantMachinery 2023-06-30 SC143944 d:PlantMachinery 2022-06-30 SC143944 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC143944 d:MotorVehicles 2022-07-01 2023-06-30 SC143944 d:MotorVehicles 2023-06-30 SC143944 d:MotorVehicles 2022-06-30 SC143944 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC143944 d:OfficeEquipment 2022-07-01 2023-06-30 SC143944 d:OfficeEquipment 2023-06-30 SC143944 d:OfficeEquipment 2022-06-30 SC143944 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC143944 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC143944 d:CurrentFinancialInstruments 2023-06-30 SC143944 d:CurrentFinancialInstruments 2022-06-30 SC143944 d:Non-currentFinancialInstruments 2023-06-30 SC143944 d:Non-currentFinancialInstruments 2022-06-30 SC143944 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 SC143944 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 SC143944 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 SC143944 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 SC143944 d:ShareCapital 2023-06-30 SC143944 d:ShareCapital 2022-06-30 SC143944 d:CapitalRedemptionReserve 2023-06-30 SC143944 d:CapitalRedemptionReserve 2022-06-30 SC143944 d:RetainedEarningsAccumulatedLosses 2023-06-30 SC143944 d:RetainedEarningsAccumulatedLosses 2022-06-30 SC143944 c:OrdinaryShareClass1 2022-07-01 2023-06-30 SC143944 c:OrdinaryShareClass1 2023-06-30 SC143944 c:OrdinaryShareClass1 2022-06-30 SC143944 c:FRS102 2022-07-01 2023-06-30 SC143944 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 SC143944 c:FullAccounts 2022-07-01 2023-06-30 SC143944 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC143944 d:WithinOneYear 2023-06-30 SC143944 d:WithinOneYear 2022-06-30 SC143944 d:BetweenOneFiveYears 2023-06-30 SC143944 d:BetweenOneFiveYears 2022-06-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC143944










PRIMERO CONTRACTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

 
PRIMERO CONTRACTS LIMITED
 

COMPANY INFORMATION


Directors
Mr B Donnachie 
Mrs G Donnachie 
Mr B Morrison (resigned 14 November 2022)




Registered number
SC143944



Registered office
3 Tom Johnston Road
West Pitkerro Industrial Estate

Dundee

DD4 8XD




Accountants
EQ Accountants LLP
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
PRIMERO CONTRACTS LIMITED
REGISTERED NUMBER: SC143944

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
249,505
208,746

  
249,505
208,746

Current assets
  

Stocks
  
9,000
95,900

Debtors: amounts falling due within one year
 5 
2,002,153
924,594

Cash at bank and in hand
  
955,731
1,088,130

  
2,966,884
2,108,624

Creditors: amounts falling due within one year
 6 
(1,266,446)
(1,059,449)

Net current assets
  
 
 
1,700,438
 
 
1,049,175

Total assets less current liabilities
  
1,949,943
1,257,921

Creditors: amounts falling due after more than one year
 7 
(103,709)
(100,254)

Provisions for liabilities
  

Deferred tax
  
(37,020)
(26,734)

  
 
 
(37,020)
 
 
(26,734)

Net assets
  
1,809,214
1,130,933


Capital and reserves
  

Called up share capital 
 8 
100
100

Capital redemption reserve
  
1
1

Profit and loss account
  
1,809,113
1,130,832

  
1,809,214
1,130,933


Page 1

 
PRIMERO CONTRACTS LIMITED
REGISTERED NUMBER: SC143944

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 November 2023.




Mr B Donnachie
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PRIMERO CONTRACTS LIMITED
 

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

1.


General information

Primero Contracts Limited is a private company, limited by shares, domiciled in Scotland with registration number SC143944. The registered office is 3 Tom Johnston Road, West Pitkerro Industrial Estate, Dundee, DD4 8XD. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
PRIMERO CONTRACTS LIMITED
 

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

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
PRIMERO CONTRACTS LIMITED
 

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

2.Accounting policies (continued)

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2022 - 17).

Page 5

 
PRIMERO CONTRACTS LIMITED
 

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

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2022
76,423
344,135
21,555
442,113


Additions
2,036
106,578
10,060
118,674


Disposals
-
(56,232)
-
(56,232)



At 30 June 2023

78,459
394,481
31,615
504,555



Depreciation


At 1 July 2022
59,074
164,785
9,508
233,367


Charge for the year on owned assets
2,603
46,347
5,121
54,071


Disposals
-
(32,388)
-
(32,388)



At 30 June 2023

61,677
178,744
14,629
255,050



Net book value



At 30 June 2023
16,782
215,737
16,986
249,505



At 30 June 2022
17,349
179,350
12,047
208,746

Page 6

 
PRIMERO CONTRACTS LIMITED
 

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

5.


Debtors

2023
2022
£
£


Trade debtors
183,381
543,809

Amounts owed by joint ventures and associated undertakings
856,430
-

Other debtors
927,089
358,672

Prepayments and accrued income
35,253
22,113

2,002,153
924,594



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,973
9,726

Trade creditors
349,783
477,874

Other taxation and social security
430,463
440,147

Obligations under finance lease and hire purchase contracts
55,549
41,136

Other creditors
68,700
69,160

Accruals and deferred income
351,978
21,406

1,266,446
1,059,449


Obligations under hire purchase contracts are secured over the assets concerned. 


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,617
31,601

Net obligations under finance leases and hire purchase contracts
82,092
68,653

103,709
100,254


Obligations under hire purchase contracts are secured over the assets concerned.

Page 7

 
PRIMERO CONTRACTS LIMITED
 

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

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



9.


Commitments under operating leases

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
1,188
1,188

Later than 1 year and not later than 5 years
2,376
3,564

3,564
4,752


10.


Controlling party

The company is a wholly owned subsidiary of Primero Group Limited. 

Page 8