1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 162,954 26,598 26,514 149 165,815 165,815 162,954 xbrli:pure xbrli:shares iso4217:GBP 04503426 2023-07-01 2024-06-30 04503426 2024-06-30 04503426 2023-06-30 04503426 2022-07-01 2023-06-30 04503426 2023-06-30 04503426 2022-06-30 04503426 core:FurnitureFittings 2023-07-01 2024-06-30 04503426 core:MotorVehicles 2023-07-01 2024-06-30 04503426 bus:Director1 2023-07-01 2024-06-30 04503426 core:FurnitureFittings 2023-06-30 04503426 core:FurnitureFittings 2024-06-30 04503426 core:MotorVehicles 2024-06-30 04503426 core:WithinOneYear 2024-06-30 04503426 core:WithinOneYear 2023-06-30 04503426 core:ShareCapital 2024-06-30 04503426 core:ShareCapital 2023-06-30 04503426 core:RevaluationReserve 2024-06-30 04503426 core:RevaluationReserve 2023-06-30 04503426 core:RetainedEarningsAccumulatedLosses 2024-06-30 04503426 core:RetainedEarningsAccumulatedLosses 2023-06-30 04503426 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 04503426 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-06-30 04503426 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-06-30 04503426 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-06-30 04503426 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 04503426 core:Non-currentFinancialInstruments 2024-06-30 04503426 core:Non-currentFinancialInstruments 2023-06-30 04503426 core:FurnitureFittings 2023-06-30 04503426 bus:SmallEntities 2023-07-01 2024-06-30 04503426 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04503426 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04503426 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04503426 bus:FullAccounts 2023-07-01 2024-06-30 04503426 core:Non-currentFinancialInstruments core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInInvestments 2024-06-30
COMPANY REGISTRATION NUMBER: 04503426
Prime Contracts Limited
Filleted Unaudited Financial Statements
30 June 2024
Prime Contracts Limited
Financial Statements
Year ended 30 June 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Prime Contracts Limited
Balance Sheet
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
101,672
3,314
Investments
6
165,815
162,954
---------
---------
267,487
166,268
Current assets
Debtors
7
41,346
13,000
Cash at bank and in hand
976,129
1,263,555
------------
------------
1,017,475
1,276,555
Creditors: amounts falling due within one year
8
4,305
14,343
------------
------------
Net current assets
1,013,170
1,262,212
------------
------------
Total assets less current liabilities
1,280,657
1,428,480
Provisions
Taxation including deferred tax
4,942
------------
------------
Net assets
1,280,657
1,423,538
------------
------------
Prime Contracts Limited
Balance Sheet (continued)
30 June 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Revaluation reserve
16,136
18,381
Profit and loss account
1,264,421
1,405,057
------------
------------
Shareholders funds
1,280,657
1,423,538
------------
------------
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 profit and loss account has not been delivered.
For the year ending 30 June 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 year 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 .
These financial statements were approved by the board of directors and authorised for issue on 13 March 2025 , and are signed on behalf of the board by:
Mr K C Briddon
Director
Company registration number: 04503426
Prime Contracts Limited
Notes to the Financial Statements
Year ended 30 June 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 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
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 investment assets 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fixtures, Fittings and Equipment
-
25% straight line
Motor Vehicles
-
25% reducing balance
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 July 2023
10,924
10,924
Additions
666
131,801
132,467
--------
---------
---------
At 30 June 2024
11,590
131,801
143,391
--------
---------
---------
Depreciation
At 1 July 2023
7,610
7,610
Charge for the year
1,159
32,950
34,109
--------
---------
---------
At 30 June 2024
8,769
32,950
41,719
--------
---------
---------
Carrying amount
At 30 June 2024
2,821
98,851
101,672
--------
---------
---------
At 30 June 2023
3,314
3,314
--------
---------
---------
6. Investments
Listed investments
£
Fair value
At 1 July 2023
162,954
Additions
26,598
Disposals
( 26,514)
Revaluations
( 149)
Transfers
2,926
---------
At 30 June 2024
165,815
---------
Impairment
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
165,815
---------
At 30 June 2023
162,954
---------
7. Debtors
2024
2023
£
£
Trade debtors
12,500
Other debtors
28,846
13,000
--------
--------
41,346
13,000
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
7,982
Social security and other taxes
2,137
Other creditors
4,305
4,224
-------
--------
4,305
14,343
-------
--------
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Listed investments
165,815
162,954
---------
---------
10. Director's advances, credits and guarantees
The director had an interest-free loan during the year. The loan is repayable on demand. At the beginning of the year the company owed him £624 and at the end of the year the company owed him £605.