Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01No description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11630986 2023-04-01 2024-03-31 11630986 2022-04-01 2023-03-31 11630986 2024-03-31 11630986 2023-03-31 11630986 c:Director1 2023-04-01 2024-03-31 11630986 d:FreeholdInvestmentProperty 2024-03-31 11630986 d:FreeholdInvestmentProperty 2023-03-31 11630986 d:CurrentFinancialInstruments 2024-03-31 11630986 d:CurrentFinancialInstruments 2023-03-31 11630986 d:Non-currentFinancialInstruments 2024-03-31 11630986 d:Non-currentFinancialInstruments 2023-03-31 11630986 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11630986 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11630986 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11630986 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11630986 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 11630986 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11630986 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 11630986 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 11630986 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 11630986 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 11630986 d:ShareCapital 2024-03-31 11630986 d:ShareCapital 2023-03-31 11630986 d:RetainedEarningsAccumulatedLosses 2024-03-31 11630986 d:RetainedEarningsAccumulatedLosses 2023-03-31 11630986 c:OrdinaryShareClass1 2023-04-01 2024-03-31 11630986 c:OrdinaryShareClass1 2024-03-31 11630986 c:OrdinaryShareClass1 2023-03-31 11630986 c:FRS102 2023-04-01 2024-03-31 11630986 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11630986 c:FullAccounts 2023-04-01 2024-03-31 11630986 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11630986 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11630986









PRIME SITE (MIDLANDS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PRIME SITE (MIDLANDS) LIMITED
REGISTERED NUMBER: 11630986

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
312,576
312,576

  
312,576
312,576

Current assets
  

Debtors: amounts falling due within one year
 5 
3,108
647

Cash at bank and in hand
  
14,272
20,377

  
17,380
21,024

Creditors: amounts falling due within one year
 6 
(282,049)
(141,198)

Net current liabilities
  
 
 
(264,669)
 
 
(120,174)

Total assets less current liabilities
  
47,907
192,402

Creditors: amounts falling due after more than one year
 7 
-
(150,061)

  

Net assets
  
47,907
42,341


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
47,807
42,241

  
47,907
42,341


Page 1

 
PRIME SITE (MIDLANDS) LIMITED
REGISTERED NUMBER: 11630986
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 income and retained earnings 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 30 November 2024.




Tariq Afzal
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PRIME SITE (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 11630986.  The Company's registered office is Sterling House, 71 Francis Road, Edgbaston, Birmingham, B16 8SP.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

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

Going concern

The director has prepared  the accounts on a going concern basis.

 
2.3

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:

Rental of property
Turnover from the rental of investment property is recognised when all the following conditions are
satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive consideration due for the period of tenancy;
- the period of rental can be measured reliably; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
PRIME SITE (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Taxation

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.


3.


Employees




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

Page 4

 
PRIME SITE (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
312,576



At 31 March 2024
312,576

The 2024 valuations were made by the director, on an open market value for existing use basis.






Page 5

 
PRIME SITE (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
2,500
60

Prepayments and accrued income
608
587

3,108
647



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
10,511

Corporation tax
1,305
1,640

Other creditors
277,282
125,466

Accruals and deferred income
3,462
3,581

282,049
141,198



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
150,061

-
150,061


The following liabilities were secured:




Details of security provided:

Bank loans were secured by a first legal charge over the property along with a fixed and floating debenture over the company's assets. The loans were repaid in the year and the charges over the loans released.

Page 6

 
PRIME SITE (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
10,511


-
10,511

Amounts falling due 1-2 years

Bank loans
-
10,511


-
10,511

Amounts falling due 2-5 years

Bank loans
-
31,533


-
31,533

Amounts falling due after more than 5 years

Bank loans
-
108,017

-
108,017

-
160,572



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Related party transactions

During the period the company received a loan from the director of £150,000 (2023 - £Nil).  In addition the director settled expenses on behalf of the company of £1,815 (2023 - £1,815).  The balance outstanding at 31 March 2024 was £277,281 (2023 - £125,466).
Loans are interest free and repayable on demand.

 
Page 7