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REGISTERED NUMBER: 07757044 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

PRIME RED LTD

PRIME RED LTD (REGISTERED NUMBER: 07757044)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 AUGUST 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PRIME RED LTD

COMPANY INFORMATION
for the Year Ended 31 AUGUST 2024







DIRECTORS: R W Lanz
Mrs L S Lanz





REGISTERED OFFICE: 11 Castle Hill
Maidenhead
Berkshire
SL6 4AA





REGISTERED NUMBER: 07757044 (England and Wales)





ACCOUNTANTS: Knight & Company Ltd
11 Castle Hill
Maidenhead
Berkshire
SL6 4AA

PRIME RED LTD (REGISTERED NUMBER: 07757044)

ABRIDGED BALANCE SHEET
31 AUGUST 2024

31/8/24 31/8/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,708 25,364

CURRENT ASSETS
Debtors 4,490 1,238
Cash at bank 1 1
4,491 1,239
CREDITORS
Amounts falling due within one year 24,599 14,670
NET CURRENT LIABILITIES (20,108 ) (13,431 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,600

11,933

CREDITORS
Amounts falling due after more than one
year

17,740

21,124
NET LIABILITIES (13,140 ) (9,191 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (13,240 ) (9,291 )
SHAREHOLDERS' FUNDS (13,140 ) (9,191 )

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

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

PRIME RED LTD (REGISTERED NUMBER: 07757044)

ABRIDGED BALANCE SHEET - continued
31 AUGUST 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 October 2024 and were signed on its behalf by:





R W Lanz - Director


PRIME RED LTD (REGISTERED NUMBER: 07757044)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 AUGUST 2024

1. STATUTORY INFORMATION

Prime Red Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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.
Land and buildings - no depreciation is charged on freeholds
Plant and machinery etc - 33% on cost and 15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and any recognised impairment loss.

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 balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

PRIME RED LTD (REGISTERED NUMBER: 07757044)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023
and 31 August 2024 33,853
DEPRECIATION
At 1 September 2023 8,489
Charge for year 656
At 31 August 2024 9,145
NET BOOK VALUE
At 31 August 2024 24,708
At 31 August 2023 25,364

5. RELATED PARTY DISCLOSURES

Included in other creditors is a balance of £13,640 (2023 - £4,943 debit) owed to the directors by the company.