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Registered Number: 12987852
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 November 2023

for

BAG PRIMAL LIMITED

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 November 2023.

We have prepared these finance statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.



....................................................
MBS Accountants
Unit 3 Tuffley Park
Lower Tuffley Lane
Gloucester
GL2 5DE
28 August 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 248,550    251,160 
248,550    251,160 
Current assets      
Debtors 50    50 
Cash at bank and in hand 3,599    4,003 
3,649    4,053 
Creditors: amount falling due within one year (5,525)   (8,256)
Net current assets (1,876)   (4,203)
 
Total assets less current liabilities 246,674    246,957 
Creditors: amount falling due after more than one year (255,510)   (255,510)
Net assets (8,836)   (8,553)
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account (8,936)   (8,653)
Shareholders' funds (8,836)   (8,553)
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 August 2024 and were signed on its behalf by:


-------------------------------
Christopher Brian Grieveson
Director
2
General Information
Bag Primal Limited is a private company, limited by shares, registered in England and Wales, registration number 12987852, registration address Unit 23 Mylord Crescent,, Camperdown Industrial Estate, Newcastle Upon Tyne, Tyne and Wear, NE12 5RF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Property, Plant and Machinery 2% Straight Line
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Property, Plant and Machinery   Total
  £   £
At 30 November 2022 255,510    255,510 
Additions  
Disposals  
At 30 November 2023 255,510    255,510 
Depreciation
At 30 November 2022 4,350    4,350 
Charge for year 2,610    2,610 
On disposals  
At 30 November 2023 6,960    6,960 
Net book values
Closing balance as at 30 November 2023 248,550    248,550 
Opening balance as at 30 November 2022 251,160    251,160 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
50 Ordinary shares of £1.00 each 50    50 
1 Ordinary A share of £1.00 each  
24 Ordinary B shares of £1.00 each 24    24 
25 Ordinary C shares of £1.00 each 25    25 
100    100 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Bag Investments Limited(22,800)(9,231)(255,510)(255,510)

Bag Investments Limited holds 75% of the outstanding shares in Bag Investments Limited as at the end of the current accounting year (30 November 2023). In the financial year 2020/2021, the Bag Investments Limited has extended a loan to Bag Primal Limited, amounting to £269,079. In the current accounting year, Bag Primal Limited has made a total a total interest payment of £22,800 to Bag Investments Limited. The balance of the loan as at the end the accounting year remains at £255,510.
3