Registered number
09426451
PRIMUM CONSULTANT LIMITED
Filleted Accounts
29 February 2024
PRIMUM CONSULTANT LIMITED
Registered number: 09426451
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,127 3,679
Investments 4 1,499,506 1,499,506
1,502,633 1,503,185
Current assets
Debtors 5 6,250 4,050
Cash at bank and in hand 19,481 30,137
25,731 34,187
Creditors: amounts falling due within one year 6 (949,813) (538,300)
Net current liabilities (924,082) (504,113)
Total assets less current liabilities 578,551 999,072
Creditors: amounts falling due after more than one year 7 (344,534) (820,284)
Net assets 234,017 178,788
Capital and reserves
Called up share capital 100 100
Profit and loss account 233,917 178,688
Shareholders' funds 234,017 178,788
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Kiran Desai
Director
Approved by the board on 19 September 2024
PRIMUM CONSULTANT LIMITED
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery @15% Reducing Balance.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 9,614
At 29 February 2024 9,614
Depreciation
At 1 March 2023 5,935
Charge for the year 552
At 29 February 2024 6,487
Net book value
At 29 February 2024 3,127
At 28 February 2023 3,679
4 Investments
Other
investments
£
Cost
At 1 March 2023 1,499,506
At 29 February 2024 1,499,506
5 Debtors 2024 2023
£ £
Other debtors 6,250 4,050
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 204,911 28,684
Trade creditors 2,404 2,656
Amounts owed to group undertakings and undertakings in which the company has a participating interest - (675)
Taxation and social security costs 18,765 7,469
Other creditors 723,733 500,166
949,813 538,300
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 344,534 820,284
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 696,803 696,803
Secured bank loans 809,854 809,854
[Give an indication of the nature and form of the security for the bank loans]
9 Controlling party
The directors' have overall control of the company by virtue of majority shareholding.
10 Other information
PRIMUM CONSULTANT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
51 Grange Road
Tettenhall
Wolverhampton
United Kingdom
WV6 8RE
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