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REGISTERED NUMBER: 07575420 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRIME BITE LIMITED

PRIME BITE LIMITED (REGISTERED NUMBER: 07575420)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIME BITE LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2024







DIRECTORS: Mrs B A Van Niekerk
Mr D P Van Niekerk





REGISTERED OFFICE: Unit 3 Lyon Business Park
River Road
Barking
Essex
IG11 0JS





REGISTERED NUMBER: 07575420 (England and Wales)





ACCOUNTANTS: Lipson & Co
88 North Street
Hornchurch
Essex
RM11 1SR

PRIME BITE LIMITED (REGISTERED NUMBER: 07575420)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,800 2,400
Tangible assets 5 238,281 291,406
240,081 293,806

CURRENT ASSETS
Stocks 243,655 201,279
Debtors 6 363,551 290,342
Cash at bank 451,599 212,680
1,058,805 704,301
CREDITORS
Amounts falling due within one year 7 437,387 327,663
NET CURRENT ASSETS 621,418 376,638
TOTAL ASSETS LESS CURRENT
LIABILITIES

861,499

670,444

CREDITORS
Amounts falling due after more than one year 8 66,607 97,755
NET ASSETS 794,892 572,689

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 794,791 572,588
SHAREHOLDERS' FUNDS 794,892 572,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

PRIME BITE LIMITED (REGISTERED NUMBER: 07575420)

BALANCE SHEET - continued
31 MARCH 2024


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 29 July 2024 and were signed on its behalf by:




Mrs B A Van Niekerk - Director



Mr D P Van Niekerk - Director


PRIME BITE LIMITED (REGISTERED NUMBER: 07575420)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024

1. STATUTORY INFORMATION

Prime Bite 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 17 ) .

PRIME BITE LIMITED (REGISTERED NUMBER: 07575420)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Trademarks
£   
COST
At 1 April 2023
and 31 March 2024 62,000
AMORTISATION
At 1 April 2023 59,600
Amortisation for year 600
At 31 March 2024 60,200
NET BOOK VALUE
At 31 March 2024 1,800
At 31 March 2023 2,400

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 666,373 5,427 10,611 682,411
Additions 21,281 3,537 1,493 26,311
At 31 March 2024 687,654 8,964 12,104 708,722
DEPRECIATION
At 1 April 2023 377,659 4,620 8,726 391,005
Charge for year 77,506 1,087 843 79,436
At 31 March 2024 455,165 5,707 9,569 470,441
NET BOOK VALUE
At 31 March 2024 232,489 3,257 2,535 238,281
At 31 March 2023 288,714 807 1,885 291,406

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 312,807 225,071
Other debtors 50,744 65,271
363,551 290,342

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 32,169 42,454
Trade creditors 265,823 266,545
Taxation and social security 133,151 10,739
Other creditors 6,244 7,925
437,387 327,663

PRIME BITE LIMITED (REGISTERED NUMBER: 07575420)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 66,607 97,755

9. ULTIMATE CONTROLLING PARTY

The company is under no overall control by any one party due to no shareholder owning a majority of the issued share capital.