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REGISTERED NUMBER: 05121291 (England and Wales)

















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Priera Limited

Priera Limited (Registered number: 05121291)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Priera Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr G Duce
Mr C Duce





SECRETARY: Mrs K M Duce





REGISTERED OFFICE: Unit 7 Excelsior Works
Station Road
Ecclesfield
Sheffield
South Yorkshire
S35 9YR





REGISTERED NUMBER: 05121291 (England and Wales)





ACCOUNTANTS: Lishmans LLP
16-18 Station Road
Chapeltown
Sheffield
South Yorkshire
S35 2XH

Priera Limited (Registered number: 05121291)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,042 39,710
Investments 5 95,800 95,800
123,842 135,510

CURRENT ASSETS
Stocks 44,434 119,821
Debtors 6 307,670 130,941
Cash in hand 49 (108 )
352,153 250,654
CREDITORS
Amounts falling due within one year 7 366,851 207,892
NET CURRENT (LIABILITIES)/ASSETS (14,698 ) 42,762
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,144

178,272

CREDITORS
Amounts falling due after more than
one year

8

(58,724

)

(116,639

)

PROVISIONS FOR LIABILITIES 9 (5,165 ) (7,092 )
NET ASSETS 45,255 54,541

Priera Limited (Registered number: 05121291)

Balance Sheet - continued
31 May 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 10 45,929 45,929
Retained earnings (1,674 ) 7,612
SHAREHOLDERS' FUNDS 45,255 54,541

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

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

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 26 September 2024 and were signed on its behalf by:





Mr C Duce - Director


Priera Limited (Registered number: 05121291)

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

1. STATUTORY INFORMATION

Priera 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Priera Limited (Registered number: 05121291)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

Going concern
The company meets its day to day working capital requirements through monies introduced by the director. The director will continue to provide funds as they are required by the company to meet its day to day requirements. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of funds.

3. EMPLOYEES AND DIRECTORS

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

Priera Limited (Registered number: 05121291)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 138,340
Additions 1,044
Disposals (15,008 )
At 31 May 2024 124,376
DEPRECIATION
At 1 June 2023 98,630
Charge for year 7,712
Eliminated on disposal (10,008 )
At 31 May 2024 96,334
NET BOOK VALUE
At 31 May 2024 28,042
At 31 May 2023 39,710

5. FIXED ASSET INVESTMENTS
Investment
shares
£   
COST
At 1 June 2023
and 31 May 2024 95,800
NET BOOK VALUE
At 31 May 2024 95,800
At 31 May 2023 95,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 236,128 102,238
Other debtors 71,542 28,703
307,670 130,941

Priera Limited (Registered number: 05121291)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 217,135 121,438
Hire purchase contracts 2,460 13,344
Trade creditors 107,679 40,179
Taxation and social security 7,058 7,969
Other creditors 32,519 24,962
366,851 207,892

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 56,947 96,918
Hire purchase contracts 1,777 19,721
58,724 116,639

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,165 7,092

Deferred
tax
£   
Balance at 1 June 2023 7,092
Provided during year (1,927 )
Balance at 31 May 2024 5,165

10. RESERVES
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 45,929