IRIS Accounts Production v24.1.4.33 SC562559 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5625592023-03-31SC5625592024-03-31SC5625592023-04-012024-03-31SC5625592022-03-31SC5625592022-04-012023-03-31SC5625592023-03-31SC562559ns15:Scotland2023-04-012024-03-31SC562559ns14:PoundSterling2023-04-012024-03-31SC562559ns10:Director12023-04-012024-03-31SC562559ns10:Director22023-04-012024-03-31SC562559ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC562559ns10:SmallEntities2023-04-012024-03-31SC562559ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC562559ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC562559ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC562559ns10:FullAccounts2023-04-012024-03-31SC562559ns10:RegisteredOffice2023-04-012024-03-31SC562559ns5:CurrentFinancialInstruments2024-03-31SC562559ns5:CurrentFinancialInstruments2023-03-31SC562559ns5:Non-currentFinancialInstruments2024-03-31SC562559ns5:Non-currentFinancialInstruments2023-03-31SC562559ns5:ShareCapital2024-03-31SC562559ns5:ShareCapital2023-03-31SC562559ns5:RetainedEarningsAccumulatedLosses2024-03-31SC562559ns5:RetainedEarningsAccumulatedLosses2023-03-31SC562559ns5:PlantMachinery2023-04-012024-03-31SC562559ns5:MotorVehicles2023-04-012024-03-31SC562559ns5:ComputerEquipment2023-04-012024-03-31SC562559ns5:PlantMachinery2023-03-31SC562559ns5:MotorVehicles2023-03-31SC562559ns5:ComputerEquipment2023-03-31SC562559ns5:PlantMachinery2024-03-31SC562559ns5:MotorVehicles2024-03-31SC562559ns5:ComputerEquipment2024-03-31SC562559ns5:PlantMachinery2023-03-31SC562559ns5:MotorVehicles2023-03-31SC562559ns5:ComputerEquipment2023-03-31SC562559ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31SC562559ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC562559ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-31SC562559ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-31
REGISTERED NUMBER: SC562559 (Scotland)












Financial Statements

for the Year Ended 31 March 2024

for

Primext FM & Small Works Ltd

Primext FM & Small Works Ltd (Registered number: SC562559)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Primext FM & Small Works Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: L F Boyle
S Frew





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC562559 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Primext FM & Small Works Ltd (Registered number: SC562559)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 147,094 69,286

CURRENT ASSETS
Inventories 7,000 7,000
Debtors 5 404,174 256,844
Cash at bank and in hand 8,830 2,392
420,004 266,236
CREDITORS
Amounts falling due within one year 6 351,846 250,360
NET CURRENT ASSETS 68,158 15,876
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,252

85,162

CREDITORS
Amounts falling due after more than one
year

7

(132,983

)

(70,362

)

PROVISIONS FOR LIABILITIES (19,110 ) (6,510 )
NET ASSETS 63,159 8,290

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 62,959 8,090
SHAREHOLDERS' FUNDS 63,159 8,290

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.

Primext FM & Small Works Ltd (Registered number: SC562559)

Balance Sheet - 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.

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 16 July 2024 and were signed on its behalf by:




S Frew - Director



L F Boyle - Director


Primext FM & Small Works Ltd (Registered number: SC562559)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Primext FM & Small Works Ltd is a private company, limited by shares , registered in Scotland. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Inventories
Inventories 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.

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.

Primext FM & Small Works Ltd (Registered number: SC562559)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 7,684 80,748 1,078 89,510
Additions - 108,799 - 108,799
Disposals - (9,792 ) - (9,792 )
At 31 March 2024 7,684 179,755 1,078 188,517
DEPRECIATION
At 1 April 2023 4,269 15,065 890 20,224
Charge for year 512 24,771 98 25,381
Eliminated on disposal - (4,182 ) - (4,182 )
At 31 March 2024 4,781 35,654 988 41,423
NET BOOK VALUE
At 31 March 2024 2,903 144,101 90 147,094
At 31 March 2023 3,415 65,683 188 69,286

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 86,018 78,400
Amounts recoverable on contract 272,559 162,585
Other debtors 45,597 15,859
404,174 256,844

Primext FM & Small Works Ltd (Registered number: SC562559)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 23,705 10,245
Trade creditors 167,417 193,967
Tax 23,550 -
Social security and other taxes 37,348 16,049
Sums due to related parties 23,870 23,870
Accrued expenses 75,956 6,229
351,846 250,360

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bounce Bank loan 21,682 30,853
Hire purchase contracts 111,301 39,509
132,983 70,362