Silverfin false false 31/03/2024 01/04/2023 31/03/2024 R C Fisher 06/11/2000 B A Stiefel 31/10/2023 02/09/2002 07 October 2024 The principal activity of the company during the financial year was as an investment holding company. 04102260 2024-03-31 04102260 bus:Director1 2024-03-31 04102260 bus:Director2 2024-03-31 04102260 2023-03-31 04102260 core:CurrentFinancialInstruments 2024-03-31 04102260 core:CurrentFinancialInstruments 2023-03-31 04102260 core:Non-currentFinancialInstruments 2024-03-31 04102260 core:Non-currentFinancialInstruments 2023-03-31 04102260 core:ShareCapital 2024-03-31 04102260 core:ShareCapital 2023-03-31 04102260 core:CapitalRedemptionReserve 2024-03-31 04102260 core:CapitalRedemptionReserve 2023-03-31 04102260 core:RetainedEarningsAccumulatedLosses 2024-03-31 04102260 core:RetainedEarningsAccumulatedLosses 2023-03-31 04102260 core:OtherPropertyPlantEquipment 2023-03-31 04102260 core:OtherPropertyPlantEquipment 2024-03-31 04102260 core:CostValuation 2023-03-31 04102260 core:DisposalsRepaymentsInvestments 2024-03-31 04102260 core:CostValuation 2024-03-31 04102260 core:ImmediateParent core:Non-currentFinancialInstruments 2024-03-31 04102260 core:ImmediateParent core:Non-currentFinancialInstruments 2023-03-31 04102260 bus:OrdinaryShareClass1 2024-03-31 04102260 bus:OrdinaryShareClass2 2024-03-31 04102260 2023-04-01 2024-03-31 04102260 bus:FilletedAccounts 2023-04-01 2024-03-31 04102260 bus:SmallEntities 2023-04-01 2024-03-31 04102260 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04102260 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04102260 bus:Director1 2023-04-01 2024-03-31 04102260 bus:Director2 2023-04-01 2024-03-31 04102260 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-04-01 2024-03-31 04102260 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 04102260 2022-04-01 2023-03-31 04102260 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 04102260 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 04102260 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04102260 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04102260 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 04102260 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04102260 (England and Wales)

PRIME INTERACTION LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

PRIME INTERACTION LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

PRIME INTERACTION LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
PRIME INTERACTION LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 56,977 76,573
Investments 4 700,602 700,607
757,579 777,180
Current assets
Debtors
- due within one year 5 126,925 305,109
- due after more than one year 5 1,226,050 1,234,745
Cash at bank and in hand 476,040 319,169
1,829,015 1,859,023
Creditors: amounts falling due within one year 6 ( 78,752) ( 65,461)
Net current assets 1,750,263 1,793,562
Total assets less current liabilities 2,507,842 2,570,742
Creditors: amounts falling due after more than one year 7 ( 841,328) ( 841,328)
Net assets 1,666,514 1,729,414
Capital and reserves
Called-up share capital 8 95,500 100,500
Capital redemption reserve 5,000 0
Profit and loss account 1,566,014 1,628,914
Total shareholders' funds 1,666,514 1,729,414

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Prime Interaction Limited (registered number: 04102260) were approved and authorised for issue by the Director. They were signed on its behalf by:

R C Fisher
Director

07 October 2024

PRIME INTERACTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
PRIME INTERACTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Prime Interaction Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 8-12 York Gate Marylebone Road, London, NW1 5DX, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if 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 method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 118,581 118,581
Additions 6,400 6,400
At 31 March 2024 124,981 124,981
Accumulated depreciation
At 01 April 2023 42,008 42,008
Charge for the financial year 25,996 25,996
At 31 March 2024 68,004 68,004
Net book value
At 31 March 2024 56,977 56,977
At 31 March 2023 76,573 76,573

4. Fixed asset investments

Listed investments Investments in associates Other investments Total
£ £ £ £
Cost or valuation before impairment
At 01 April 2023 5 2 700,600 700,607
Disposals ( 5) 0 0 ( 5)
At 31 March 2024 0 2 700,600 700,602
Carrying value at 31 March 2024 0 2 700,600 700,602
Carrying value at 31 March 2023 5 2 700,600 700,607

5. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 24,000 24,000
Amounts owed by group undertakings 2,814 0
Other debtors 100,111 281,109
126,925 305,109
Debtors: amounts falling due after more than one year
Other debtors 1,226,050 1,234,745

Amounts due after more than one year is in respect of a related party as disclosed in note 10 of the accounts.

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,709 64
Amounts owed to group undertakings 27,338 52,630
Other taxation and social security 3,114 0
Other creditors 44,591 12,767
78,752 65,461

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Amounts owed to parent undertakings 841,328 841,328

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
95,000 Ordinary shares of £ 1.00 each (2023: 100,000 shares of £ 1.00 each) 95,000 100,000
5,000 Ordinary A shares of £ 0.10 each 500 500
95,500 100,500

During the year the company bought back 5,000 ordinary shares of £1 each.

"A" shareholders have no voting rights, but otherwise carry the same rights as ordinary shares.

9. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed by Kings Security Systems Limited (subsidiary of Kings Solutions Group Limited) 1,226,050 1,226,050
Amounts owed to Prime interaction Holdings Limited 841,328 841,328

10. Ultimate controlling party

Parent Company:

Prime Interaction Holdings Limited
In the opinion of the directors, the ultimate control of the company rests with the Merrowdown Trust.