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REGISTERED NUMBER: 03194989 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 March 2023

for

Prime Financial Services Limited

Prime Financial Services Limited (Registered number: 03194989)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Prime Financial Services Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs A Ballan
Mrs D Pinder





REGISTERED OFFICE: Prospect House
389/391 Ainsworth Road
Radcliffe
Manchester
M26 4HN





REGISTERED NUMBER: 03194989 (England and Wales)





ACCOUNTANTS: Anthony Marshall Ltd
Chartered Accountants
70 Market Street
Tottington
Bury
Greater Manchester
BL8 3LJ

Prime Financial Services Limited (Registered number: 03194989)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Debtors 4 1,954 1,500
Cash at bank 13,498 22,445
15,452 23,945
CREDITORS
Amounts falling due within one year 5 18,798 18,509
NET CURRENT (LIABILITIES)/ASSETS (3,346 ) 5,436
TOTAL ASSETS LESS CURRENT LIABILITIES (3,346 ) 5,436

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (3,446 ) 5,336
(3,346 ) 5,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 25 September 2023 and were signed on its behalf by:





Mrs A Ballan - Director


Prime Financial Services Limited (Registered number: 03194989)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Prime Financial 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Prime Financial Services Limited (Registered number: 03194989)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 454 -
Other debtors 1,500 1,500
1,954 1,500

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 659 -
Taxation and social security 17,047 18,259
Other creditors 1,092 250
18,798 18,509

6. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of Mrs. A. Ballan, by virtue of her shareholding and directorship.

7. TRANSACTION WITH DIRECTORS

During the year the company paid dividends to A. Ballan of £33,810 (2022: £25,480) and D. Pinder of £22,770 (2022: £17,160) both directors.