REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Primefigure Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Primefigure Limited |
Primefigure Limited (Registered number: 03704575) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Primefigure Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3 Park Square |
Leeds |
LS1 2NE |
Primefigure Limited (Registered number: 03704575) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair valuation reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
Primefigure Limited (Registered number: 03704575) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Primefigure Limited (Registered number: 03704575) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Primefigure Limited is a |
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. These financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Fixed Assets are included at cost, less accumulated depreciation to date. |
Investment property |
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. |
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. |
Capital losses totalling £360,755 are carried forward. |
Rents received |
Rental income is recognised in the period in which it is due, net of VAT. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Primefigure Limited (Registered number: 03704575) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
The fair value of the investment property has been determined by the director, Mr J L Hindley, to be appropriate. The director making this assessment is a chartered surveyor. |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2016 | 358,616 |
Valuation in 2021 | 70,000 |
Valuation in 2023 | 580,000 |
Cost | 491,384 |
1,500,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
Prepayments |
Primefigure Limited (Registered number: 03704575) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade creditors |
Tax |
VAT | 5,866 | 3,619 |
Loan creditors |
Directors' current accounts | 1,112 | 5,021 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Loan creditors |
Directors' loan accounts | - | 15,062 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.24 | 30.6.23 |
£ | £ |
Falling due within one year | 23,929 | 23,967 |
Falling due after one year | 430,722 | 431,413 |
Borrowings are secured against the company's investment property. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RESERVES |
Fair |
valuation |
reserve |
£ |
At 1 July 2023 |
and 30 June 2024 |
Primefigure Limited (Registered number: 03704575) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
12. | RELATED PARTY DISCLOSURES |
At 30 June 2024, the company owed Mr J L Hindley, a director, £1,112 (2023: £20,083). |
13. | ULTIMATE CONTROLLING PARTY |
The company is under the control of its directors. |