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REGISTERED NUMBER: 05311721 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

PRIME STOCK DIRECT LIMITED

PRIME STOCK DIRECT LIMITED (REGISTERED NUMBER: 05311721)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PRIME STOCK DIRECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr J A Nutter
Mrs L A Nutter





SECRETARY: Mr J F Nutter





REGISTERED OFFICE: 17 Moor Park Avenue
Preston
Lancashire
PR1 6AS





REGISTERED NUMBER: 05311721 (England and Wales)





ACCOUNTANTS: SBCA Chartered Accountants
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

PRIME STOCK DIRECT LIMITED (REGISTERED NUMBER: 05311721)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Debtors 5 41,067 35,948
Cash at bank 100,312 96,043
141,379 131,991
CREDITORS
Amounts falling due within one year 6 (120,846 ) (113,351 )
NET CURRENT ASSETS 20,533 18,640
TOTAL ASSETS LESS CURRENT LIABILITIES 20,533 18,640

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 20,532 18,639
SHAREHOLDERS' FUNDS 20,533 18,640

PRIME STOCK DIRECT LIMITED (REGISTERED NUMBER: 05311721)

STATEMENT OF FINANCIAL POSITION - continued
31ST DECEMBER 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

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 23rd July 2024 and were signed on its behalf by:





Mr J A Nutter - Director


PRIME STOCK DIRECT LIMITED (REGISTERED NUMBER: 05311721)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Prime Stock Direct 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 represents zero rated invoiced sales of livestock.

Tangible fixed assets
The assets held on the balance sheet have been fully depreciated at the balance sheet date.

PRIME STOCK DIRECT LIMITED (REGISTERED NUMBER: 05311721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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 statement of financial position date.


PRIME STOCK DIRECT LIMITED (REGISTERED NUMBER: 05311721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Farm
Buildings
£   
COST
At 1st January 2023
and 31st December 2023 3,478
DEPRECIATION
At 1st January 2023
and 31st December 2023 3,478
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 276 389
Other debtors 40,791 35,559
41,067 35,948

PRIME STOCK DIRECT LIMITED (REGISTERED NUMBER: 05311721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 5,293 1,287
Taxation and social security 469 91
Other creditors 115,084 111,973
120,846 113,351

7. CALLED UP SHARE CAPITAL

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

8. RESERVES
Retained
earnings
£   

At 1st January 2023 18,639
Profit for the year 1,893
At 31st December 2023 20,532

9. RELATED PARTY DISCLOSURES

Included within other creditors at the balance sheet date is an amount owed from J&F Nutter of £8,762 (2022; £20,244), a partnership in which Mr. J Nutter (director) is a partner. To the extent it is covered by the credit balances on the director's loan accounts, it is interest free with any remainder repayable on demand.