1 December 2022 v2024.37.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP098794442022-12-012023-11-30098794442023-11-30098794442022-11-3009879444core:WithinOneYear2023-11-3009879444core:WithinOneYear2022-11-3009879444core:ShareCapital2023-11-3009879444core:ShareCapital2022-11-3009879444core:RetainedEarningsAccumulatedLosses2023-11-3009879444core:RetainedEarningsAccumulatedLosses2022-11-3009879444bus:Director12022-12-012023-11-3009879444bus:Director22022-12-012023-11-3009879444bus:RegisteredOffice2022-12-012023-11-3009879444core:OfficeEquipment2022-12-012023-11-3009879444core:FurnitureFittings2022-12-012023-11-30098794442021-12-012022-11-3009879444core:PlantMachinery2023-11-3009879444core:PlantMachinery2022-12-0109879444core:PlantMachinery2022-12-012023-11-3009879444core:PlantMachinery2022-11-300987944412022-12-012023-11-3009879444countries:EnglandWales2022-12-012023-11-3009879444bus:AuditExempt-NoAccountantsReport2022-12-012023-11-3009879444bus:PrivateLimitedCompanyLtd2022-12-012023-11-3009879444bus:SmallEntities2022-12-012023-11-3009879444bus:FullAccounts2022-12-012023-11-30
Company registration number:
09879444
Prime Advisory UK Ltd
Unaudited Filleted Financial Statements for the year ended
30 November 2023
Prime Advisory UK Ltd
Statement of Financial Position
30 November 2023
20232022
Note££
Fixed assets    
Tangible assets 5
876
 
1,013
 
Current assets    
Debtors 6
50,121
 
30,951
 
Cash at bank and in hand
4,432
 
638
 
54,553
 
31,589
 
Creditors: amounts falling due within one year 7
(52,074
)
(44,711
)
Net current assets/(liabilities)
2,479
 
(13,122
)
Total assets less current liabilities 3,355   (12,109 )
Capital and reserves    
Called up share capital
10,000
 
1,000
 
Profit and loss account
(6,645
)
(13,109
)
Shareholders funds/(deficit)
3,355
 
(12,109
)
For the year ending
30 November 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
20 May 2024
, and are signed on behalf of the board by:
D Occari
G WILLIAMS
DirectorDirector
Company registration number:
09879444
Prime Advisory UK Ltd
Notes to the Financial Statements
Year ended
30 November 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
3.12 East London Works
65 Whitechapel Road
London
,
E1 1DU
England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and Value Added Tax.
Turnover includes revenue earned from the rendering of professional services.
Turnover from the professional services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
33.33% straight line
Fixtures and fittings
25% straight line

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non convertible preference and non puttable ordinary shares which are measured at fair value with changes recognised in the profit and loss.
Derivative financial instruments are initially recorded at cost and there after at fair value with changes recognised in the profit and loss.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Foreign exchange

The transactions denominated in foreign currency are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction. Balances at the year end denominated in a foreign currency are translated at the rate of exchange ruling at the balance sheet date.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 December 2022
and
30 November 2023
5,019
 
Depreciation  
At
1 December 2022
4,006
 
Charge
137
 
At
30 November 2023
4,143
 
Carrying amount  
At
30 November 2023
876
 
At 30 November 2022
1,013
 

6 Debtors

20232022
££
Trade debtors
43,493
 
30,735
 
Other debtors
6,628
 
216
 
50,121
 
30,951
 

7 Creditors: amounts falling due within one year

20232022
££
Trade creditors
4,610
 
146
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
9,864
 
644
 
Taxation and social security
9,778
 
7,099
 
Other creditors
27,822
 
36,822
 
52,074
 
44,711