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REGISTERED NUMBER: 12809669 (England and Wales)




























Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Primo Studio Limited

Primo Studio Limited (Registered number: 12809669)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Primo Studio Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: G Corser
I G Donnelly





REGISTERED OFFICE: Unit 2, Telford Court
Dunkirk Trading Estate
Chester Gates, Dunkirk
Chester
Cheshire
CH1 6LT





REGISTERED NUMBER: 12809669 (England and Wales)





ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY

Primo Studio Limited (Registered number: 12809669)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,824 12,520
Tangible assets 5 88,880 35,691
97,704 48,211

CURRENT ASSETS
Debtors 6 257,004 53,683
Cash at bank 10,761 20,985
267,765 74,668
CREDITORS
Amounts falling due within one year 7 171,421 96,701
NET CURRENT ASSETS/(LIABILITIES) 96,344 (22,033 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

194,048

26,178

CREDITORS
Amounts falling due after more than one
year

8

(85,549

)

(15,494

)

PROVISIONS FOR LIABILITIES 10 (22,220 ) (8,923 )
NET ASSETS 86,279 1,761

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 86,179 1,661
SHAREHOLDERS' FUNDS 86,279 1,761

Primo Studio Limited (Registered number: 12809669)

Balance Sheet - continued
30 November 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2024 and were signed on its behalf by:





I G Donnelly - Director


Primo Studio Limited (Registered number: 12809669)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Primo Studio 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Primo Studio Limited (Registered number: 12809669)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 December 2022
and 30 November 2023 18,480
AMORTISATION
At 1 December 2022 5,960
Amortisation for year 3,696
At 30 November 2023 9,656
NET BOOK VALUE
At 30 November 2023 8,824
At 30 November 2022 12,520

Primo Studio Limited (Registered number: 12809669)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022 47,942 2,328 - 50,270
Additions - - 62,950 62,950
At 30 November 2023 47,942 2,328 62,950 113,220
DEPRECIATION
At 1 December 2022 13,987 592 - 14,579
Charge for year 6,791 347 2,623 9,761
At 30 November 2023 20,778 939 2,623 24,340
NET BOOK VALUE
At 30 November 2023 27,164 1,389 60,327 88,880
At 30 November 2022 33,955 1,736 - 35,691

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 62,950
At 30 November 2023 62,950
DEPRECIATION
Charge for year 2,623
At 30 November 2023 2,623
NET BOOK VALUE
At 30 November 2023 60,327

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 222,098 14,167
Amounts owed by associates 34,016 39,516
Prepayments 890 -
257,004 53,683

Primo Studio Limited (Registered number: 12809669)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 6,975 -
Hire purchase contracts 13,086 13,329
Trade creditors 20,091 -
Amounts owed to associates 79,630 75,519
Tax 8,719 -
Social security and other taxes 1,975 6,803
Credit Card 38,345 -
Accrued expenses 2,600 1,050
171,421 96,701

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 6,975 -
Other loans - 2-5 years 20,469 -
Hire purchase contracts 58,105 15,494
85,549 15,494

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mi Vehicle Finance 55,804 -

The vehicle finance loan is secured against the VW Transporter.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 22,220 8,923

Deferred
tax
£   
Balance at 1 December 2022 8,923
Provided during year 13,297
Balance at 30 November 2023 22,220

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100