IRIS Accounts Production v24.3.2.46 11202576 director 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh112025762023-06-30112025762024-06-30112025762023-07-012024-06-30112025762022-06-30112025762022-07-012023-06-30112025762023-06-3011202576ns15:EnglandWales2023-07-012024-06-3011202576ns14:PoundSterling2023-07-012024-06-3011202576ns10:Director12023-07-012024-06-3011202576ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3011202576ns10:SmallEntities2023-07-012024-06-3011202576ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3011202576ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3011202576ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3011202576ns10:AbridgedAccounts2023-07-012024-06-3011202576ns10:RegisteredOffice2023-07-012024-06-3011202576ns5:CurrentFinancialInstruments2024-06-3011202576ns5:CurrentFinancialInstruments2023-06-3011202576ns5:Non-currentFinancialInstruments2024-06-3011202576ns5:Non-currentFinancialInstruments2023-06-3011202576ns5:ShareCapital2024-06-3011202576ns5:ShareCapital2023-06-3011202576ns5:RetainedEarningsAccumulatedLosses2024-06-3011202576ns5:RetainedEarningsAccumulatedLosses2023-06-3011202576ns5:PlantMachinery2023-07-012024-06-30
REGISTERED NUMBER: 11202576 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Prime Backpackers Ltd

Prime Backpackers Ltd (Registered number: 11202576)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Prime Backpackers Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: M G Lower





REGISTERED OFFICE: 333 City Road
London
EC1V 1LJ





REGISTERED NUMBER: 11202576 (England and Wales)





ACCOUNTANTS: M Goddard & Co
Chartered Accountants
69 Tupwood Lane
Caterham
Surrey
CR3 6DD

Prime Backpackers Ltd (Registered number: 11202576)

Abridged Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,109,142 26,721

CURRENT ASSETS
Debtors 8,295 2,539
Cash at bank and in hand 347 17,781
8,642 20,320
CREDITORS
Amounts falling due within one year 135,280 93,720
NET CURRENT LIABILITIES (126,638 ) (73,400 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,982,504

(46,679

)

CREDITORS
Amounts falling due after more than one
year

5

(1,545,469

)

(195,512

)

PROVISIONS FOR LIABILITIES (566,980 ) (5,117 )
NET ASSETS/(LIABILITIES) 1,870,055 (247,308 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,870,054 (247,309 )
SHAREHOLDERS' FUNDS 1,870,055 (247,308 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Prime Backpackers Ltd (Registered number: 11202576)

Abridged Balance Sheet - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 March 2025 and were signed by:





M G Lower - Director


Prime Backpackers Ltd (Registered number: 11202576)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Prime Backpackers Ltd 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on cost

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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Prime Backpackers Ltd (Registered number: 11202576)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Freehold property
The Freehold property has not been depreciated and it is shown in the accounts at current value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 July 2023 81,606
Additions 1,683,083
Disposals (42,454 )
Revaluations 2,426,659
At 30 June 2024 4,148,894
DEPRECIATION
At 1 July 2023 54,885
Charge for year 15,473
Eliminated on disposal (30,606 )
At 30 June 2024 39,752
NET BOOK VALUE
At 30 June 2024 4,109,142
At 30 June 2023 26,721

The freehold property was transferred to the company during the year from a group company at cost, this property has then been revalued to current market value, as valued by a company director.

Cost or valuation at 30 June 2024 is represented by:

Totals
£   
Valuation in 2024 2,426,659
Cost 1,722,235
4,148,894

Prime Backpackers Ltd (Registered number: 11202576)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST OR VALUATION
At 1 July 2023 29,954
Disposals (29,954 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 14,157
Charge for year 3,949
Eliminated on disposal (18,106 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 15,797

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30.6.24 30.6.23
£    £   

Repayable by instalments
Bank loans more 5 yr by instal - 69,003

6. RELATED PARTY DISCLOSURES

M Lower, the sole director owed the company £Nil (2022:£305) at the year end.

7. ULTIMATE CONTROLLING PARTY

The controlling party is M G Lower.

8. RETAINED EARNINGS

Under FRS 102 a revaluation reserve is no longer separately identifiable. The unrealised gain on the revalued property net of deferred tax amounts to £1,860,468 (2023:£Nil) and is included in retained earnings.