0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-12 Sage Accounts Production Advanced 2024 - FRS102_2024 2,275 2,275 455 455 1,820 xbrli:pure xbrli:shares iso4217:GBP 14587577 2023-01-12 2024-01-31 14587577 2024-01-31 14587577 2023-01-11 14587577 bus:Director1 2023-01-12 2024-01-31 14587577 core:WithinOneYear 2024-01-31 14587577 core:ShareCapital 2024-01-31 14587577 core:RetainedEarningsAccumulatedLosses 2024-01-31 14587577 bus:Director1 2024-01-31 14587577 bus:SmallEntities 2023-01-12 2024-01-31 14587577 bus:AuditExempt-NoAccountantsReport 2023-01-12 2024-01-31 14587577 bus:SmallCompaniesRegimeForAccounts 2023-01-12 2024-01-31 14587577 bus:PrivateLimitedCompanyLtd 2023-01-12 2024-01-31 14587577 bus:FullAccounts 2023-01-12 2024-01-31 14587577 core:ComputerEquipment 2023-01-12 2024-01-31 14587577 core:ComputerEquipment 2024-01-31
COMPANY REGISTRATION NUMBER: 14587577
Prime Distro LTD
Filleted Unaudited Financial Statements
31 January 2024
Prime Distro LTD
Statement of Financial Position
31 January 2024
31 Jan 24
Note
£
Fixed assets
Tangible assets
4
1,820
Current assets
Debtors
5
79,356
Cash at bank and in hand
10,229
--------
89,585
Creditors: amounts falling due within one year
6
111,391
---------
Net current liabilities
21,806
--------
Total assets less current liabilities
( 19,986)
--------
Net liabilities
( 19,986)
--------
Capital and reserves
Called up share capital
1
Profit and loss account
( 19,987)
--------
Shareholders deficit
( 19,986)
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Prime Distro LTD
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 18 November 2024 , and are signed on behalf of the board by:
Mr A S Bagga
Director
Company registration number: 14587577
Prime Distro LTD
Notes to the Financial Statements
Period from 12 January 2023 to 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Wenlock Road, London, N1 7GU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
4. Tangible assets
Equipment
£
Cost
At 12 January 2023
Additions
2,275
-------
At 31 January 2024
2,275
-------
Depreciation
At 12 January 2023
Charge for the period
455
-------
At 31 January 2024
455
-------
Carrying amount
At 31 January 2024
1,820
-------
5. Debtors
31 Jan 24
£
Trade debtors
50,000
Other debtors
29,356
--------
79,356
--------
6. Creditors: amounts falling due within one year
31 Jan 24
£
Trade creditors
57,124
Social security and other taxes
8,964
Other creditors
45,303
---------
111,391
---------
7. Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
31 Jan 24
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr A S Bagga
( 7,128)
( 7,128)
----
-------
-------