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Company registration number: 12697866
Prime Consultancy Group Limited
Unaudited filleted financial statements
30 June 2023
Prime Consultancy Group Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Prime Consultancy Group Limited
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 4 260 260
_______ _______
260 260
Current assets
Debtors 5 3,533 3,533
Cash at bank and in hand 100 100
_______ _______
3,633 3,633
Creditors: amounts falling due
within one year 6 ( 3,793) ( 3,793)
_______ _______
Net current liabilities ( 160) ( 160)
_______ _______
Total assets less current liabilities 100 100
_______ _______
Net assets 100 100
_______ _______
Capital and reserves
Called up share capital 100 100
_______ _______
Shareholders funds 100 100
_______ _______
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 November 2023 , and are signed on behalf of the board by:
S Peacock
Director
Company registration number: 12697866
Prime Consultancy Group Limited
Statement of changes in equity
Year ended 30 June 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 July 2021 100 273 373
Profit for the year 75,221 75,221
_______ _______ _______
Total comprehensive income for the year - 75,221 75,221
Dividends paid and payable ( 75,494) ( 75,494)
_______ _______ _______
Total investments by and distributions to owners - ( 75,494) ( 75,494)
_______ _______ _______
At 30 June 2022 and 1 July 2022 100 - 100
Profit for the year 67,382 67,382
_______ _______ _______
Total comprehensive income for the year - 67,382 67,382
Dividends paid and payable ( 67,382) ( 67,382)
_______ _______ _______
Total investments by and distributions to owners - ( 67,382) ( 67,382)
_______ _______ _______
At 30 June 2023 100 - 100
_______ _______ _______
Prime Consultancy Group Limited
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite Ff10 Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 July 2022 and 30 June 2023 260 260
_______ _______
Impairment
At 1 July 2022 and 30 June 2023 - -
_______ _______
Carrying amount
At 30 June 2023 260 260
_______ _______
At 30 June 2022 260 260
_______ _______
5. Debtors
2023 2022
£ £
Other debtors 3,533 3,533
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest ( 384) 266
Other creditors 4,177 3,527
_______ _______
3,793 3,793
_______ _______
7. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2023 2022
£ £
S Peacock 2,877 2,877
A Tynan 3,533 3,533
_______ _______
656 656
_______ _______