Registered number: 10407979
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Primrose Holdings Limited
Financial statements
Information for filing with the registrar
30 September 2024
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Primrose Holdings Limited
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Balance sheet
At 30 September 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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1
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Primrose Holdings Limited
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Balance sheet (continued)
At 30 September 2024
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 comprehensive income 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 15 April 2025.
Registered number: 10407979
The notes on pages 3 to 7 form part of these financial statements.
2
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Primrose Holdings Limited
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Notes to the financial statements
Year ended 30 September 2024
Primrose Holdings Limited ("the company") is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is 532 Streetsbrook Road, Solihull, West Midlands, B91 1RD, United Kingdom.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The turnover shown in the profit and loss account represents rental income receivable.
Interest income is recognised in profit or loss using the effective interest method.
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.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
3
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Primrose Holdings Limited
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Notes to the financial statements
Year ended 30 September 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
4
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Primrose Holdings Limited
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Notes to the financial statements
Year ended 30 September 2024
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The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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5
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Primrose Holdings Limited
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Notes to the financial statements
Year ended 30 September 2024
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Investments in subsidiary companies
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6
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Primrose Holdings Limited
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Notes to the financial statements
Year ended 30 September 2024
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Creditors: amounts falling due after more than one year
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Related party transactions
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Primrose Holdings Limited transacted with Orthodontics For You (Solihull) Limited and Orthodontics For You (Bromsgrove) Limited, its subsidiarys in which it owns shares, by way of an intercompany account.
At 30 September 2023, the company owed £1,318,771 (2023: £704,354) to Orthodontics For You (Solihull) Limited.
At 30 September 2024, the company was owed £264,876 (2023: £279,876) by Orthodontics For You (Bromsgrove) Limited.
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7
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