Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falseConsulting and plant hiretrue2023-05-01false11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12409592 2023-05-01 2024-04-30 12409592 2022-05-01 2023-04-30 12409592 2024-04-30 12409592 2023-04-30 12409592 c:Director1 2023-05-01 2024-04-30 12409592 d:PlantMachinery 2023-05-01 2024-04-30 12409592 d:PlantMachinery 2024-04-30 12409592 d:PlantMachinery 2023-04-30 12409592 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12409592 d:MotorVehicles 2023-05-01 2024-04-30 12409592 d:MotorVehicles 2024-04-30 12409592 d:MotorVehicles 2023-04-30 12409592 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12409592 d:OfficeEquipment 2023-05-01 2024-04-30 12409592 d:OfficeEquipment 2024-04-30 12409592 d:OfficeEquipment 2023-04-30 12409592 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12409592 d:ComputerEquipment 2023-05-01 2024-04-30 12409592 d:ComputerEquipment 2024-04-30 12409592 d:ComputerEquipment 2023-04-30 12409592 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12409592 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12409592 d:CurrentFinancialInstruments 2024-04-30 12409592 d:CurrentFinancialInstruments 2023-04-30 12409592 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 12409592 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 12409592 d:ShareCapital 2024-04-30 12409592 d:ShareCapital 2023-04-30 12409592 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 12409592 d:RetainedEarningsAccumulatedLosses 2024-04-30 12409592 d:RetainedEarningsAccumulatedLosses 2023-04-30 12409592 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 12409592 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 12409592 c:OrdinaryShareClass1 2023-05-01 2024-04-30 12409592 c:OrdinaryShareClass1 2024-04-30 12409592 c:OrdinaryShareClass1 2023-04-30 12409592 c:OrdinaryShareClass2 2023-05-01 2024-04-30 12409592 c:OrdinaryShareClass2 2024-04-30 12409592 c:OrdinaryShareClass2 2023-04-30 12409592 c:FRS102 2023-05-01 2024-04-30 12409592 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 12409592 c:FullAccounts 2023-05-01 2024-04-30 12409592 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12409592 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12409592










PRYMEC LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
PRYMEC LIMITED
REGISTERED NUMBER:12409592

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
85,739
87,357

  
85,739
87,357

Current assets
  

Stocks
  
345
325

Debtors: amounts falling due within one year
 6 
14,534
10,545

Cash at bank and in hand
 7 
56,384
43,171

  
71,263
54,041

Creditors: amounts falling due within one year
 8 
(42,925)
(39,411)

Net current assets
  
 
 
28,338
 
 
14,630

Total assets less current liabilities
  
114,077
101,987

Provisions for liabilities
  

Deferred tax
 9 
(16,290)
(21,839)

  
 
 
(16,290)
 
 
(21,839)

Net assets
  
97,787
80,148


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
 11 
97,687
80,048

  
97,787
80,148


Page 1

 
PRYMEC LIMITED
REGISTERED NUMBER:12409592
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2024.




J M Pryce
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Prymec Limited, 12409592, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Rose Hill, Kerry, Newtown, Powys, SY16 4NU.
The principal activity of this Company is consultancy and plant hire.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Motor vehicles
-
15%
Office equipment
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
62,638
37,500
-
13,697
113,835


Additions
12,530
-
266
1,988
14,784



At 30 April 2024

75,168
37,500
266
15,685
128,619



Depreciation


At 1 May 2023
10,500
10,840
-
5,138
26,478


Charge for the year on owned assets
9,700
3,999
66
2,637
16,402



At 30 April 2024

20,200
14,839
66
7,775
42,880



Net book value



At 30 April 2024
54,968
22,661
200
7,910
85,739



At 30 April 2023
52,138
26,660
-
8,559
87,357


6.


Debtors

2024
2023
£
£


Trade debtors
9,375
2,670

Other debtors
-
3,675

Prepayments and accrued income
5,159
4,200

14,534
10,545


Page 7

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
56,384
43,171

56,384
43,171



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
20,951
12,299

Corporation tax
5,665
119

Other taxation and social security
3,261
588

Other creditors
7,813
24,710

Accruals and deferred income
5,235
1,695

42,925
39,411



9.


Deferred taxation




2024


£






At beginning of year
21,839


Charged to profit or loss
(5,549)



At end of year
16,290

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
16,290
21,839

16,290
21,839

Page 8

 
PRYMEC LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



80 (2023 - 80) Ordinary A shares of £1.00 each
80
80
20 (2023 - 20) Ordinary B shares of £1.00 each
20
20

100

100



11.


Reserves

Profit and loss account

The profit and loss reserves consists of the accumulated profits of the Company, less distributions to shareholders.

 
Page 9