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Registered number: 06609856
Primatas Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
AGAssociates
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mr Syed Amir Zaidi
Mrs Maria Rosaria Romano
Company Number 06609856
Registered Office Room 26 - SBC House
Restmor Way
Wallington
Surrey
SM6 7AH
Accountants AGAssociates
Room 26 - Sbc House
Restmor Way
Wallington
SM6 7AH
Page 1
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Balance Sheet
Registered number: 06609856
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 22,713 22,713
Tangible Assets 5 54,240 100,891
76,953 123,604
CURRENT ASSETS
Debtors 6 135,072 286,086
Cash at bank and in hand 463,619 312,647
598,691 598,733
Creditors: Amounts Falling Due Within One Year 7 (661,965 ) (702,976 )
NET CURRENT ASSETS (LIABILITIES) (63,274 ) (104,243 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,679 19,361
Creditors: Amounts Falling Due After More Than One Year 8 - (12,483 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (11,182 ) (1,772 )
NET ASSETS 2,497 5,106
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 2,397 5,006
SHAREHOLDERS' FUNDS 2,497 5,106
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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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Maria Rosaria Romano
Director
17/03/2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Primatas Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06609856 . The registered office is Room 26 - SBC House, Restmor Way, Wallington, Surrey, SM6 7AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is not being amortised.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on reducing balances
Motor Vehicles 20% on reducing balances
Fixtures & Fittings 20% on reducing balances
Computer Equipment 20% on reducing balances
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 22)
20 22
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 22,713
As at 30 June 2024 22,713
Net Book Value
As at 30 June 2024 22,713
As at 1 July 2023 22,713
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 59,200 188,322 65,832 40,874 354,228
Additions - - 3,062 10,295 13,357
Disposals - (99,500 ) - - (99,500 )
As at 30 June 2024 59,200 88,822 68,894 51,169 268,085
Depreciation
As at 1 July 2023 35,499 120,415 62,730 34,693 253,337
Provided during the period 4,740 3,191 1,233 3,296 12,460
Disposals - (51,952 ) - - (51,952 )
As at 30 June 2024 40,239 71,654 63,963 37,989 213,845
Net Book Value
As at 30 June 2024 18,961 17,168 4,931 13,180 54,240
As at 1 July 2023 23,701 67,907 3,102 6,181 100,891
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 262,144
Other debtors 95,114 17,915
Directors' loan accounts 28,931 -
124,045 280,059
Due after more than one year
Other debtors 11,027 6,027
135,072 286,086
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 31,502
Corporation tax 65,227 81,320
Other taxes and social security 40,616 -
VAT 25,969 123,609
Net wages 78,682 -
Other creditors 443,613 464,065
Pension control account 3,474 2,502
Business credit card 4,384 (85 )
Directors' loan accounts - 63
661,965 702,976
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - 12,483
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 11,182 1,772
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Syed Amir Zaidi (63 ) 323,993 295,000 - 28,930
The above loan is unsecured, interest free and repayable on demand.
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 185,200 302,200
The total distribution of dividends for the year ended 30 June 2024 will be £185,200.
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