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REGISTERED NUMBER: 11708248 (England and Wales)


Primo Foods Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






Primo Foods Limited (Registered number: 11708248)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Primo Foods Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr V Gencer
Mr B Kocahal





REGISTERED OFFICE: Unit 3
New Horizon Business Centre
Barrows Road
Harlow
CM19 5FN





REGISTERED NUMBER: 11708248 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Primo Foods Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Primo Foods Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Primo Foods Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Primo Foods Limited and state those matters that we have agreed to state to the Board of Directors of Primo Foods Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Primo Foods Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Primo Foods Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Primo Foods Limited. You consider that Primo Foods Limited 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 financial statements of Primo Foods Limited. 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 financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


21 August 2024

Primo Foods Limited (Registered number: 11708248)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 33,016 860

CURRENT ASSETS
Inventories 5 163,424 33,775
Debtors 6 269,749 181,514
Cash at bank and in hand 2,884 4,819
436,057 220,108
CREDITORS
Amounts falling due within one year 7 389,781 236,437
NET CURRENT ASSETS/(LIABILITIES) 46,276 (16,329 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,292

(15,469

)

CREDITORS
Amounts falling due after more than one
year

8

(29,801

)

(9,306

)

PROVISIONS FOR LIABILITIES 9 (6,273 ) (163 )
NET ASSETS/(LIABILITIES) 43,218 (24,938 )

CAPITAL AND RESERVES
Called up share capital 10 300 300
Retained earnings 11 42,918 (25,238 )
SHAREHOLDERS' FUNDS 43,218 (24,938 )

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.

Primo Foods Limited (Registered number: 11708248)

Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 August 2024 and were signed on its behalf by:





Mr B Kocahal - Director


Primo Foods Limited (Registered number: 11708248)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Primo Foods 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.

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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is generated from the ordinary activities of the business and is recognised when customers take delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Primo Foods Limited (Registered number: 11708248)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 2,719 - - 2,719
Additions 17,416 24,500 1,246 43,162
At 31 March 2024 20,135 24,500 1,246 45,881
DEPRECIATION
At 1 April 2023 1,859 - - 1,859
Charge for year 4,569 6,125 312 11,006
At 31 March 2024 6,428 6,125 312 12,865
NET BOOK VALUE
At 31 March 2024 13,707 18,375 934 33,016
At 31 March 2023 860 - - 860

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 24,500
At 31 March 2024 24,500
DEPRECIATION
Charge for year 6,125
At 31 March 2024 6,125
NET BOOK VALUE
At 31 March 2024 18,375

5. INVENTORIES
2024 2023
£    £   
Finished goods 163,424 33,775

Primo Foods Limited (Registered number: 11708248)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 220,976 179,271
Other debtors 48,773 2,243
269,749 181,514

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,643 4,643
Hire purchase contracts 7,515 -
Trade creditors 59,009 46,309
Taxation and social security 7,517 2,870
Other creditors 311,097 182,615
389,781 236,437

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 4,643 9,306
Hire purchase contracts 25,158 -
29,801 9,306

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,273 163

Deferred
tax
£   
Balance at 1 April 2023 163
Charge to Income Statement during year 6,110
Balance at 31 March 2024 6,273

Primo Foods Limited (Registered number: 11708248)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary £1 300 300

11. RESERVES
Retained
earnings
£   

At 1 April 2023 (25,238 )
Profit for the year 68,156
At 31 March 2024 42,918

12. RELATED PARTY DISCLOSURES

Included in other creditors are amounts owed to key management personnel at balance sheet date of £307,200 (2023: £180,715).This is an interest free loan and is repayable on demand.