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REGISTERED NUMBER: 03137692 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PRIMARY TEACHING SERVICES LIMITED

PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIMARY TEACHING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: A D Lucas
Mrs K D White





SECRETARY: A D Lucas





REGISTERED OFFICE: Summit House
Kellet Lane
Walton Summit
Preston
Lancashire
PR5 6AN





REGISTERED NUMBER: 03137692 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

BALANCE SHEET
29 FEBRUARY 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,750 42,750
Tangible assets 5 187,303 149,126
211,053 191,876

CURRENT ASSETS
Stocks 6 1,453,775 1,707,278
Debtors 7 229,292 427,123
Cash at bank 149,194 28,221
1,832,261 2,162,622
CREDITORS
Amounts falling due within one year 8 593,404 1,061,805
NET CURRENT ASSETS 1,238,857 1,100,817
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,449,910

1,292,693

PROVISIONS FOR LIABILITIES 44,612 34,509
NET ASSETS 1,405,298 1,258,184

CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Retained earnings 1,403,298 1,256,184
SHAREHOLDERS' FUNDS 1,405,298 1,258,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 12 November 2024 and were signed on its behalf by:




A D Lucas - Director



Mrs K D White - Director


PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Primary Teaching Services 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangible assets are being amortised evenly over their estimated useful of between one and five years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Plant and machinery- 15% on reducing balance
Fixtures and fittings- 10% on reducing balance
Computer equipment- 25% on reducing balance

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

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.


PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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 directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has continued to be adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 100,500
AMORTISATION
At 1 March 2023 57,750
Charge for year 19,000
At 29 February 2024 76,750
NET BOOK VALUE
At 29 February 2024 23,750
At 28 February 2023 42,750

PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2023 173,374 97,490 305,569 576,433
Additions 59,654 5,362 6,124 71,140
At 29 February 2024 233,028 102,852 311,693 647,573
DEPRECIATION
At 1 March 2023 96,863 67,878 262,566 427,307
Charge for year 18,580 3,286 11,097 32,963
At 29 February 2024 115,443 71,164 273,663 460,270
NET BOOK VALUE
At 29 February 2024 117,585 31,688 38,030 187,303
At 28 February 2023 76,511 29,612 43,003 149,126

6. STOCKS
29/2/24 28/2/23
£    £   
Stocks 1,453,775 1,707,278

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 148,750 194,913
Prepayments 80,542 232,210
229,292 427,123

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts - 155,411
Trade creditors 184,019 355,029
Tax 101,980 108,097
Social security and other taxes 11,836 19,083
VAT 64,956 71,816
Other creditors 135,538 117,538
Directors' current accounts 75,901 184,500
Accruals and deferred income 19,174 50,331
593,404 1,061,805

PRIMARY TEACHING SERVICES LIMITED (REGISTERED NUMBER: 03137692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29/2/24 28/2/23
£    £   
Within one year 125,000 125,000
Between one and five years 364,583 489,583
489,583 614,583

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
2,000 Ordinary £1 2,000 2,000

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the directors £75,902 (2023: £184,500). The amounts are repayable on demand and no interest has been charged.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £138,600 (2023 - £144,500) were paid to the directors .

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the Directors as disclosed in the Directors Report on page 2, however there is not one Director who has ultimate control.