Company Registration No. 10616649 (England and Wales)
Primefit Marine Ltd.
Unaudited accounts
for the year ended 30 September 2024
Primefit Marine Ltd.
Unaudited accounts
Contents
Primefit Marine Ltd.
Company Information
for the year ended 30 September 2024
Company Number
10616649 (England and Wales)
Registered Office
Bray Marina
Monkey Island Lane
Bray
Maidenhead
Berkshire
SL6 2EB
England
Accountants
KMG Accountancy Ltd
The Offices
57 Newtown Road
Hove
BN3 7BA
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Primefit Marine Ltd. for the year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Primefit Marine Ltd. for the year ended
30 September 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
KMG Accountancy Ltd
Chartered Accountants
The Offices
57 Newtown Road
Hove
BN3 7BA
17 March 2025
Primefit Marine Ltd.
Statement of financial position
as at 30 September 2024
Tangible assets
10,282
13,552
Cash at bank and in hand
12,872
12,084
Creditors: amounts falling due within one year
(18,862)
(17,549)
Net current assets
158
753
Total assets less current liabilities
10,440
14,305
Creditors: amounts falling due after more than one year
(7,025)
(10,564)
Provisions for liabilities
Deferred tax
(3,388)
(3,388)
Called up share capital
1
1
Profit and loss account
26
352
Shareholders' funds
27
353
For the year ending 30 September 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 March 2025 and were signed on its behalf by
Samuel Bailey
Director
Company Registration No. 10616649
Primefit Marine Ltd.
Notes to the Accounts
for the year ended 30 September 2024
Primefit Marine Ltd. is a private company, limited by shares, registered in England and Wales, registration number 10616649. The registered office is Bray Marina, Monkey Island Lane, Bray, Maidenhead, Berkshire, SL6 2EB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 September 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Primefit Marine Ltd.
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2023
4,250
16,942
-
21,192
At 30 September 2024
4,250
16,942
177
21,369
At 1 October 2023
4,250
3,390
-
7,640
Charge for the year
-
3,388
59
3,447
At 30 September 2024
4,250
6,778
59
11,087
At 30 September 2024
-
10,164
118
10,282
At 30 September 2023
-
13,552
-
13,552
Amounts falling due within one year
Accrued income and prepayments
1,889
1,789
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
3,400
3,426
Taxes and social security
11,200
8,425
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
7,025
10,564
8
Average number of employees
During the year the average number of employees was 2 (2023: 1).