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REGISTERED NUMBER: 11717033 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Prime Automation Installations Ltd

Prime Automation Installations Ltd (Registered number: 11717033)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Prime Automation Installations Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N T Lloyd
D Sutton





REGISTERED OFFICE: Unit 3 Bourne Brook Farm
Sutton Road
Tamworth
Staffordshire
B78 3DX





REGISTERED NUMBER: 11717033 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Prime Automation Installations Ltd (Registered number: 11717033)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,070 38,468

CURRENT ASSETS
Stocks 8,710 8,625
Debtors 5 116,500 350,476
Cash at bank 309,325 55,755
434,535 414,856
CREDITORS
Amounts falling due within one year 6 187,583 173,861
NET CURRENT ASSETS 246,952 240,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,022

279,463

CREDITORS
Amounts falling due after more than one
year

7

(18,262

)

(27,500

)

PROVISIONS FOR LIABILITIES 9 (10,463 ) (7,309 )
NET ASSETS 273,297 244,654

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 273,197 244,554
SHAREHOLDERS' FUNDS 273,297 244,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Automation Installations Ltd (Registered number: 11717033)

Balance Sheet - continued
31 December 2023


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 13 August 2024 and were signed on its behalf by:




N T Lloyd - Director



D Sutton - Director


Prime Automation Installations Ltd (Registered number: 11717033)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Prime Automation Installations Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Motor vehicles - 25% on reducing balance
Office equipment - 33% 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.

Prime Automation Installations Ltd (Registered number: 11717033)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 57,716 8,208 65,924
Additions 47,278 1,919 49,197
Disposals (18,320 ) - (18,320 )
At 31 December 2023 86,674 10,127 96,801
DEPRECIATION
At 1 January 2023 21,816 5,640 27,456
Charge for year 17,359 1,496 18,855
Eliminated on disposal (4,580 ) - (4,580 )
At 31 December 2023 34,595 7,136 41,731
NET BOOK VALUE
At 31 December 2023 52,079 2,991 55,070
At 31 December 2022 35,900 2,568 38,468

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 112,540 279,645
Other debtors 3,960 70,831
116,500 350,476

Prime Automation Installations Ltd (Registered number: 11717033)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 66,293 1,619
Taxation and social security 58,333 88,994
Other creditors 52,957 73,248
187,583 173,861

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 18,262 27,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 12,150 9,900
Between one and five years 21,600 4,950
33,750 14,850

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 10,463 7,309

Deferred
tax
£   
Balance at 1 January 2023 7,309
Provided during year 3,154
Balance at 31 December 2023 10,463

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.