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REGISTERED NUMBER: 03137692 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PRIMARY TEACHING SERVICES LIMITED

PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIMARY TEACHING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: A D Lucas
Mrs K D White





SECRETARY: A D Lucas





REGISTERED OFFICE: Summit House
Kellet Lane
Walton Summit
Preston
Lancashire
PR5 6AN





REGISTERED NUMBER: 03137692 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

BALANCE SHEET
28 FEBRUARY 2023

28/2/23 28/2/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 42,750 61,750
Tangible assets 5 149,126 131,958
191,876 193,708

CURRENT ASSETS
Stocks 6 1,707,278 1,402,458
Debtors 7 427,123 426,252
Cash at bank 28,221 14,002
2,162,622 1,842,712
CREDITORS
Amounts falling due within one year 8 1,061,805 1,246,891
NET CURRENT ASSETS 1,100,817 595,821
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,292,693

789,529

PROVISIONS FOR LIABILITIES 34,509 22,570
NET ASSETS 1,258,184 766,959

CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Retained earnings 1,256,184 764,959
SHAREHOLDERS' FUNDS 1,258,184 766,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

BALANCE SHEET - continued
28 FEBRUARY 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 Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:




A D Lucas - Director



Mrs K D White - Director


PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Primary Teaching Services Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangible assets are being amortised evenly over their estimated useful of between one and five years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Plant and machinery- 15% on reducing balance
Fixtures and fittings- 10% on reducing balance
Computer equipment- 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has continued to be adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 100,500
AMORTISATION
At 1 March 2022 38,750
Charge for year 19,000
At 28 February 2023 57,750
NET BOOK VALUE
At 28 February 2023 42,750
At 28 February 2022 61,750

PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2022 141,805 90,494 301,073 533,372
Additions 31,569 6,996 4,496 43,061
At 28 February 2023 173,374 97,490 305,569 576,433
DEPRECIATION
At 1 March 2022 87,041 65,082 249,291 401,414
Charge for year 9,822 2,796 13,275 25,893
At 28 February 2023 96,863 67,878 262,566 427,307
NET BOOK VALUE
At 28 February 2023 76,511 29,612 43,003 149,126
At 28 February 2022 54,764 25,412 51,782 131,958

6. STOCKS
28/2/23 28/2/22
£    £   
Stocks 1,707,278 1,402,458

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Trade debtors 194,913 171,638
Tax - 24,702
VAT - 54,873
Prepayments 232,210 175,039
427,123 426,252

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Bank loans and overdrafts 155,411 -
Trade creditors 355,029 262,873
Tax 108,097 123,992
Social security and other taxes 19,083 15,317
VAT 71,816 -
Other creditors 117,538 121,688
Directors' current accounts 184,500 693,538
Accruals and deferred income 50,331 29,483
1,061,805 1,246,891

PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
28/2/23 28/2/22
£    £   
Within one year 125,000 96,250
Between one and five years 489,583 -
614,583 96,250

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28/2/23 28/2/22
value: £    £   
2,000 Ordinary £1 2,000 2,000

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the directors £184,500 (2022: £693,538). The amounts are repayable on demand and no interest has been charged.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £144,500 (2022 - £528,870) were paid to the directors .

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director, Alan Lucas.