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Registered number: 13759967









PRIMROSE RENTALS (HEYWOOD) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
PRIMROSE RENTALS (HEYWOOD) LIMITED
REGISTERED NUMBER: 13759967

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
941,998
236,998

  
941,998
236,998

Current assets
  

Debtors: amounts falling due within one year
 5 
36,500
36,500

Cash at bank and in hand
  
3,641
8,515

  
40,141
45,015

Creditors: amounts falling due within one year
 6 
(184,188)
(114,461)

Net current liabilities
  
 
 
(144,047)
 
 
(69,446)

Total assets less current liabilities
  
797,951
167,552

Creditors: amounts falling due after more than one year
 7 
(404,798)
(167,696)

  

Net assets/(liabilities)
  
393,153
(144)


Capital and reserves
  

Called up share capital 
  
100
100

Capital redemption reserve
  
393,129
-

Profit and loss account
  
(76)
(244)

  
393,153
(144)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 December 2024.
Page 1

 
PRIMROSE RENTALS (HEYWOOD) LIMITED
REGISTERED NUMBER: 13759967
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024





Joseph Webb
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PRIMROSE RENTALS (HEYWOOD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Primrose Property Rentals (Heywood) Limited is a private company limited by shares registered in the United Kingdom, company number 13759967. It's registered office is Manor House, 35 St. Thomas's Road, Chorley, PR7 1HP.
During the year, the principal activity of the company was that of other letting and operating of own or leased real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PRIMROSE RENTALS (HEYWOOD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, SELECT OR ENTER METHOD.

Depreciation is provided on the following basis:

Long-term leasehold property
-

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
PRIMROSE RENTALS (HEYWOOD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Long-term leasehold property

£



Cost or valuation


At 1 July 2023
236,998


Additions
705,000



At 30 June 2024

941,998






Net book value



At 30 June 2024
941,998



At 30 June 2023
236,998


5.


Debtors

2024
2023
£
£


Other debtors
36,500
36,500

36,500
36,500


Page 5

 
PRIMROSE RENTALS (HEYWOOD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
17,657
-

Other creditors
155,931
113,381

Accruals and deferred income
10,600
1,080

184,188
114,461



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
404,798
167,696

404,798
167,696


Page 6

 
PRIMROSE RENTALS (HEYWOOD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
17,657
-


17,657
-

Amounts falling due 1-2 years

Bank loans
17,657
-


17,657
-

Amounts falling due 2-5 years

Bank loans
52,972
-


52,972
-

Amounts falling due after more than 5 years

Bank loans
334,169
167,696

334,169
167,696

422,455
167,696


 
Page 7