Company registration number 09501625 (England and Wales)
PRIMOS CARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
PRIMOS CARE LIMITED
CONTENTS
Page
Company information
1
Accountants' report
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
PRIMOS CARE LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs A O Fagbenro
(Appointed 24 October 2023)
Mr A A Fagbenro
(Appointed 24 October 2023)
Company number
09501625
Registered office
34a/34b Church Road
Brightlingsea
Colchester
Essex
CO7 0JF
Accountants
TC Group
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
PRIMOS CARE LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
134,600
141,000
Tangible assets
4
375,066
299,202
509,666
440,202
Current assets
Debtors
5
1,828
14,868
Cash at bank and in hand
34,893
4,573
36,721
19,441
Creditors: amounts falling due within one year
6
(154,725)
(156,820)
Net current liabilities
(118,004)
(137,379)
Total assets less current liabilities
391,662
302,823
Creditors: amounts falling due after more than one year
7
-
0
(406,894)
Net assets/(liabilities)
391,662
(104,071)
Capital and reserves
Called up share capital
10
10
Share premium account
264,990
264,990
Equity reserve
506,555
-
0
Profit and loss reserves
(379,893)
(369,071)
Total equity
391,662
(104,071)
PRIMOS CARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9 August 2024 and are signed on its behalf by:
Mr A A Fagbenro
Director
Company Registration No. 09501625
PRIMOS CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

Primos Care Limited is a private company limited by shares incorporated in England and Wales. The registered office is 34a/34b Church Road, Brightlingsea, Colchester, Essex, CO7 0JF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
5% straight line
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
PRIMOS CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
24
25
3
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
188,000
Amortisation and impairment
At 1 February 2023
47,000
Amortisation charged for the year
6,400
At 31 January 2024
53,400
Carrying amount
At 31 January 2024
134,600
At 31 January 2023
141,000
PRIMOS CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2023
375,292
66,967
442,259
Additions
93,595
9,145
102,740
At 31 January 2024
468,887
76,112
544,999
Depreciation and impairment
At 1 February 2023
93,824
49,233
143,057
Depreciation charged in the year
22,153
4,723
26,876
At 31 January 2024
115,977
53,956
169,933
Carrying amount
At 31 January 2024
352,910
22,156
375,066
At 31 January 2023
281,468
17,734
299,202
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
8,040
Other debtors
1,828
6,828
1,828
14,868
PRIMOS CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
24,643
Trade creditors
-
0
5,835
Amounts owed to group undertakings
132,749
-
0
Taxation and social security
5,364
101,331
Other creditors
16,612
25,011
154,725
156,820
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
263,597
Other creditors
-
0
143,297
-
0
406,894
8
Related party transactions

In October 2023 the entire share capital of the company was sold to Treal Care UK Limited, a company under the control of the directors. As part of the transaction the previous shareholders settled liabilities of the company amounting to £506,555. This amount has been transferred to the equity reserve.

9
Parent company

The parent company of Primos Care Limited is Treal Care UK Limited and its registered office is Office 3&4, 321-323 High road, Chadwell Heath, Romford, Essex, RM6 6AX.

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