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REGISTERED NUMBER: 02715620 (England and Wales)














PRIMEHELM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PRIMEHELM LIMITED (REGISTERED NUMBER: 02715620)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIMEHELM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: B D Stroh
S B Stroh





SECRETARY: S B Stroh





REGISTERED OFFICE: 357 City Road
London
EC1V 1LR





REGISTERED NUMBER: 02715620 (England and Wales)





ACCOUNTANTS: STERN ASSOCIATES
Chartered Accountants
2 Helenslea Avenue
London
NW11 8ND

PRIMEHELM LIMITED (REGISTERED NUMBER: 02715620)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,672 3,143
Investment property 5 9,337,949 9,266,949
9,340,621 9,270,092

CURRENT ASSETS
Debtors 6 610,572 529,886
Cash at bank 278,794 277,927
889,366 807,813
CREDITORS
Amounts falling due within one year 7 1,600,821 1,583,132
NET CURRENT LIABILITIES (711,455 ) (775,319 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,629,166

8,494,773

CREDITORS
Amounts falling due after more than one
year

8

4,002,500

3,945,500
NET ASSETS 4,626,666 4,549,273

CAPITAL AND RESERVES
Called up share capital 100 100
Capital reserve 10 277,914 277,914
Fair value reserve 10 1,322,621 1,322,621
Retained earnings 10 3,026,031 2,948,638
SHAREHOLDERS' FUNDS 4,626,666 4,549,273

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

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

PRIMEHELM LIMITED (REGISTERED NUMBER: 02715620)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 December 2024 and were signed on its behalf by:





B D Stroh - Director


PRIMEHELM LIMITED (REGISTERED NUMBER: 02715620)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Primehelm 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable for the year net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

PRIMEHELM LIMITED (REGISTERED NUMBER: 02715620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 105,891
DEPRECIATION
At 1 April 2023 102,748
Charge for year 471
At 31 March 2024 103,219
NET BOOK VALUE
At 31 March 2024 2,672
At 31 March 2023 3,143

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 9,266,949
Additions 71,000
At 31 March 2024 9,337,949
NET BOOK VALUE
At 31 March 2024 9,337,949
At 31 March 2023 9,266,949

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 1,322,622
Cost 8,015,327
9,337,949

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 7,944,327 7,944,327

The investment properties were valued on an open market value basis on 31 March 2024 by the directors .

A full professional valuation was not carried out.

PRIMEHELM LIMITED (REGISTERED NUMBER: 02715620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 175,476 194,224
Other debtors 413,766 330,255
Prepayments and accrued income 21,330 5,407
610,572 529,886

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 160,000 222,000
Trade creditors 15,665 2,074
Tax 79,949 54,045
Social security and other taxes 1,599 1,066
VAT 14,501 24,259
Other creditors 998,164 1,037,753
Directors' loan accounts 2 -
Accruals and deferred income 330,941 241,935
1,600,821 1,583,132

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 4,002,500 3,945,500

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 4,162,500 4,167,500

The bank loans and overdrafts are secured on the company's investment properties and by a floating charge over the assets of the company.

Additionally, the directors have each given personal guarantees limited to £25,000.

PRIMEHELM LIMITED (REGISTERED NUMBER: 02715620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. RESERVES
Fair
Retained Capital value
earnings reserve reserve Totals
£    £    £    £   

At 1 April 2023 2,948,638 277,914 1,322,621 4,549,173
Profit for the year 77,393 - - 77,393
At 31 March 2024 3,026,031 277,914 1,322,621 4,626,566

The Fair value reserve is a non distributable reserve.

11. CONTINGENT LIABILITIES

The company is party to an agreement with its bankers entered into by 12 companies, all controlled by the directors. Under the agreement, a joint facility involving cross-guarantees has been arranged by the participating companies.

12. RELATED PARTY DISCLOSURES

Included in the accounts are the following transactions with companies controlled by the directors:

31.3.24 31.3.23
£    £   

Commission paid 2,625 2,919
Other debtors 413,766 330,255
Other creditors 876,876 929,893
Charitable donations 40,000 80,000

13. ULTIMATE CONTROLLING PARTY

The company is controlled by Messrs. B. D. and S. B. Stroh and their wives who control the entire issued share capital of the company.