Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30Consulting and plant hiretruetrue2022-05-01false11The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12409592 2022-05-01 2023-04-30 12409592 2021-05-01 2022-04-30 12409592 2023-04-30 12409592 2022-04-30 12409592 c:Director1 2022-05-01 2023-04-30 12409592 d:PlantMachinery 2022-05-01 2023-04-30 12409592 d:PlantMachinery 2023-04-30 12409592 d:PlantMachinery 2022-04-30 12409592 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 12409592 d:MotorVehicles 2022-05-01 2023-04-30 12409592 d:MotorVehicles 2023-04-30 12409592 d:MotorVehicles 2022-04-30 12409592 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 12409592 d:ComputerEquipment 2022-05-01 2023-04-30 12409592 d:ComputerEquipment 2023-04-30 12409592 d:ComputerEquipment 2022-04-30 12409592 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 12409592 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 12409592 d:CurrentFinancialInstruments 2023-04-30 12409592 d:CurrentFinancialInstruments 2022-04-30 12409592 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 12409592 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 12409592 d:ShareCapital 2023-04-30 12409592 d:ShareCapital 2022-04-30 12409592 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 12409592 d:RetainedEarningsAccumulatedLosses 2023-04-30 12409592 d:RetainedEarningsAccumulatedLosses 2022-04-30 12409592 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 12409592 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 12409592 c:OrdinaryShareClass1 2022-05-01 2023-04-30 12409592 c:OrdinaryShareClass1 2023-04-30 12409592 c:OrdinaryShareClass1 2022-04-30 12409592 c:OrdinaryShareClass2 2022-05-01 2023-04-30 12409592 c:OrdinaryShareClass2 2023-04-30 12409592 c:OrdinaryShareClass2 2022-04-30 12409592 c:FRS102 2022-05-01 2023-04-30 12409592 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 12409592 c:FullAccounts 2022-05-01 2023-04-30 12409592 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12409592










PRYMEC LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
PRYMEC LIMITED
REGISTERED NUMBER:12409592

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
87,357
78,205

  
87,357
78,205

Current assets
  

Stocks
  
325
250

Debtors: amounts falling due within one year
 6 
10,545
9,634

Cash at bank and in hand
 7 
43,171
67,969

  
54,041
77,853

Creditors: amounts falling due within one year
 8 
(39,411)
(61,568)

Net current assets
  
 
 
14,630
 
 
16,285

Total assets less current liabilities
  
101,987
94,490

Provisions for liabilities
  

Deferred tax
 9 
(21,839)
(14,859)

  
 
 
(21,839)
 
 
(14,859)

Net assets
  
80,148
79,631


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
 11 
80,048
79,531

  
80,148
79,631


Page 1

 
PRYMEC LIMITED
REGISTERED NUMBER:12409592
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The director considers 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 director acknowledges his 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 comprehensive income 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 1 December 2023.




J M Pryce
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Prymec Limited, 12409592, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Rose Hill, Kerry, Newtown, Powys, SY16 4NU.
The principal activity of this Company is consultancy and plant hire.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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 balance sheet 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 balance sheet 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 balance sheet date.

Page 4

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.5

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%
Motor vehicles
-
15%
Computer equipment
-
25%

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.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

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 balance sheet 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 Balance sheet.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2022
42,876
37,500
7,549
87,925


Additions
19,762
-
6,148
25,910



At 30 April 2023

62,638
37,500
13,697
113,835



Depreciation


At 1 May 2022
1,299
6,135
2,285
9,719


Charge for the year on owned assets
9,201
4,705
2,853
16,759



At 30 April 2023

10,500
10,840
5,138
26,478



Net book value



At 30 April 2023
52,138
26,660
8,559
87,357



At 30 April 2022
41,576
31,365
5,264
78,205


6.


Debtors

2023
2022
£
£


Trade debtors
2,670
6,412

Other debtors
3,675
3,222

Prepayments and accrued income
4,200
-

10,545
9,634


Page 7

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
43,171
67,969

43,171
67,969



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
12,299
46,305

Corporation tax
119
30

Other taxation and social security
588
-

Other creditors
24,710
12,359

Accruals and deferred income
1,695
2,874

39,411
61,568



9.


Deferred taxation




2023


£






At beginning of year
14,859


Charged to profit or loss
6,980



At end of year
21,839

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
21,839
14,859

21,839
14,859

Page 8

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



80 (2022 - 80) Ordinary A shares of £1.00 each
80
80
20 (2022 - 20) Ordinary B shares of £1.00 each
20
20

100

100



11.


Reserves

Profit and loss account

The profit and loss reserves consists of the accumulated profits of the Company, less distributions to shareholders.

 
Page 9