1 September 2022 false No description of principal activity Taxfiler 2023.14 9740116business:PrivateLimitedCompanyLtd2022-09-012023-08-31 97401162022-08-31 97401162022-09-012023-08-31 9740116business:AuditExemptWithAccountantsReport2022-09-012023-08-31 9740116business:FilletedAccounts2022-09-012023-08-31 97401162023-08-31 9740116business:Director12022-09-012023-08-31 9740116business:RegisteredOffice2022-09-012023-08-31 97401162022-08-31 9740116core:WithinOneYear2023-08-31 9740116core:WithinOneYear2022-08-31 9740116core:AfterOneYear2023-08-31 9740116core:AfterOneYear2022-08-31 9740116core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 9740116core:ShareCapitalcore:PreviouslyStatedAmount2022-08-31 9740116core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 9740116core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-08-31 9740116core:PreviouslyStatedAmount2023-08-31 9740116core:PreviouslyStatedAmount2022-08-31 9740116business:SmallEntities2022-09-012023-08-31 9740116countries:EnglandWales2022-09-012023-08-31 9740116core:PlantMachinery2022-09-012023-08-31 9740116core:Goodwill2022-08-31 9740116core:Goodwill2023-08-31 9740116core:Goodwill2022-09-012023-08-31 9740116core:LandBuildings2022-08-31 9740116core:PlantMachinery2022-08-31 9740116core:LandBuildings2022-09-012023-08-31 9740116core:LandBuildings2023-08-31 9740116core:PlantMachinery2023-08-31 9740116core:WithinOneYear2022-09-012023-08-31 97401162021-09-012022-08-31 iso4217:GBP xbrli:pure
Company Registration No. 9740116 (England and Wales)
Prehybrid Ltd Unaudited accounts for the year ended 31 August 2023
Prehybrid Ltd Unaudited accounts Contents
Page
- 2 -
Prehybrid Ltd Company Information for the year ended 31 August 2023
Director
Mr. Premakanth Uthayakumaran
Company Number
9740116 (England and Wales)
Registered Office
Broxbourne Service Station 74-76 High Road Wormley EN10 6DU United Kingdom
Accountants
Daniel Consultancy Morritt House 54-60 Station Approach South Ruislip Ruislip HA4 6SA
- 3 -
Prehybrid Ltd Accountants' report
Accountants' report to the director of Prehybrid Ltd on the preparation of the unaudited statutory accounts for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Prehybrid Ltd for the year ended 31 August 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Prehybrid Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Prehybrid Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prehybrid Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Prehybrid Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Prehybrid Ltd. You consider that Prehybrid Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Prehybrid Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Daniel Consultancy Morritt House 54-60 Station Approach South Ruislip Ruislip HA4 6SA 6 February 2024
- 4 -
Prehybrid Ltd Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
130,667 
140,000 
Tangible assets
256,117 
180,718 
386,784 
320,718 
Current assets
Inventories
341,026 
175,083 
Debtors
66,323 
132,330 
Cash at bank and in hand
44,671 
17,550 
452,020 
324,963 
Creditors: amounts falling due within one year
(635,025)
(514,553)
Net current liabilities
(183,005)
(189,590)
Total assets less current liabilities
203,779 
131,128 
Creditors: amounts falling due after more than one year
(17,529)
(39,168)
Provisions for liabilities
Deferred tax
(5,837)
(5,837)
Net assets
180,413 
86,123 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
180,313 
86,023 
Shareholders' funds
180,413 
86,123 
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 February 2024 and were signed on its behalf by
Mr. Premakanth Uthayakumaran Director Company Registration No. 9740116
- 5 -
Prehybrid Ltd Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Prehybrid Ltd is a private company, limited by shares, registered in England and Wales, registration number 9740116. The registered office is Broxbourne Service Station 74-76, High Road, Wormley, EN10 6DU, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Depreciated at 25% SL
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
- 6 -
Prehybrid Ltd Notes to the Accounts for the year ended 31 August 2023
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 September 2022
140,000 
At 31 August 2023
140,000 
Amortisation
At 1 September 2022
- 
Charge for the year
9,333 
At 31 August 2023
9,333 
Net book value
At 31 August 2023
130,667 
At 31 August 2022
140,000 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2022
150,000 
41,324 
191,324 
Additions
- 
97,043 
97,043 
At 31 August 2023
150,000 
138,367 
288,367 
Depreciation
At 1 September 2022
- 
10,606 
10,606 
Charge for the year
- 
21,644 
21,644 
At 31 August 2023
- 
32,250 
32,250 
Net book value
At 31 August 2023
150,000 
106,117 
256,117 
At 31 August 2022
150,000 
30,718 
180,718 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
4,624 
Trade debtors
6,885 
60,908 
Accrued income and prepayments
9,893 
17,253 
Other debtors
49,545 
49,545 
66,323 
132,330 
- 7 -
Prehybrid Ltd Notes to the Accounts for the year ended 31 August 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
25,848 
- 
Trade creditors
197,289 
236,760 
Taxes and social security
28,685 
50,875 
Other creditors
13,291 
15,280 
Loans from directors
369,912 
209,518 
Accruals
- 
2,120 
635,025 
514,553 
Included in the creditors above is a sum of £369,912 (2022 - 214,518) loan from Premakanth Uthayakumaran, the company director.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
17,529 
39,168 
9
Average number of employees
During the year the average number of employees was 11 (2022: 10).
- 8 -