PRIORITY MANAGEMENT (GLASGOW) LIMITED

Company Registration Number:
SC173423 (Scotland)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 1 February 2023

End date: 31 January 2024

PRIORITY MANAGEMENT (GLASGOW) LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Additional notes
Balance sheet notes

PRIORITY MANAGEMENT (GLASGOW) LIMITED

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 239,316 242,563
Total fixed assets: 239,316 242,563
Current assets
Debtors: 4 272,247 265,352
Cash at bank and in hand: 408,781 409,791
Total current assets: 681,028 675,143
Creditors: amounts falling due within one year: 5 ( 82,988 ) ( 103,735 )
Net current assets (liabilities): 598,040 571,408
Total assets less current liabilities: 837,356 813,971
Provision for liabilities: ( 3,208 ) ( 3,055 )
Total net assets (liabilities): 834,148 810,916
Capital and reserves
Called up share capital: 17,860 17,860
Profit and loss account: 816,288 793,056
Total Shareholders' funds: 834,148 810,916

The notes form part of these financial statements

PRIORITY MANAGEMENT (GLASGOW) LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 October 2024
and signed on behalf of the board by:

Name: Mrs Gilly Macmorran
Status: Director

The notes form part of these financial statements

PRIORITY MANAGEMENT (GLASGOW) LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows: Fixtures and fittings - 25% reducing balance Motor vehicles - 25% reducing balance Plant and machinery - 25% reducing balance

PRIORITY MANAGEMENT (GLASGOW) LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 4 3

PRIORITY MANAGEMENT (GLASGOW) LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2023 226,485 112,973 339,458
Additions 1,030 1,030
Disposals
Revaluations
Transfers
At 31 January 2024 226,485 114,003 340,488
Depreciation
At 1 February 2023 0 96,895 96,895
Charge for year 4,277 4,277
On disposals
Other adjustments
At 31 January 2024 0 101,172 101,172
Net book value
At 31 January 2024 226,485 12,831 239,316
At 31 January 2023 226,485 16,078 242,563

PRIORITY MANAGEMENT (GLASGOW) LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Debtors

2024 2023
£ £
Trade debtors 48,054 32,238
Other debtors 224,193 233,114
Total 272,247 265,352

PRIORITY MANAGEMENT (GLASGOW) LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 5,395 2,681
Taxation and social security 45,518 67,913
Accruals and deferred income 31,579 32,661
Other creditors 496 480
Total 82,988 103,735

PRIORITY MANAGEMENT (GLASGOW) LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Loans to directors

Name of director receiving advance or credit:
Description of the transaction:
Director's Loan Account
£
Balance at 31 January 2023 175,881
Advances or credits made:
Advances or credits repaid: 6,678
Balance at 31 January 2024 169,203