Company Registration No. 9740116 (England and Wales)
Prehybrid Ltd
Unaudited accounts
for the year ended 31 August 2024
Prehybrid Ltd
Unaudited accounts
Contents
Prehybrid Ltd
Company Information
for the year ended 31 August 2024
Director
Mr. Premakanth Uthayakumaran
Company Number
9740116 (England and Wales)
Registered Office
Broxbourne Service Station 74-76
High Road
Wormley
EN10 6DU
United Kingdom
Accountants
Daniel Consultancy
Morritt House
54-60 Station Approach
South Ruislip
Ruislip
HA4 6SA
Prehybrid Ltd
Statement of financial position
as at 31 August 2024
Intangible assets
116,667
130,667
Tangible assets
230,845
256,117
Inventories
316,514
341,026
Cash at bank and in hand
(12,875)
44,671
Creditors: amounts falling due within one year
(881,829)
(635,025)
Net current assets/(liabilities)
89,095
(183,005)
Total assets less current liabilities
436,607
203,779
Creditors: amounts falling due after more than one year
(238,254)
(17,529)
Provisions for liabilities
Deferred tax
(5,837)
(5,837)
Net assets
192,516
180,413
Called up share capital
100
100
Profit and loss account
192,416
180,313
Shareholders' funds
192,516
180,413
For the year ending 31 August 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 23 April 2025 and were signed on its behalf by
Mr. Premakanth Uthayakumaran
Director
Company Registration No. 9740116
Prehybrid Ltd
Notes to the Accounts
for the year ended 31 August 2024
Prehybrid Ltd is a private company, limited by shares, registered in England and Wales, registration number 9740116. The registered office is Broxbourne Service Station 74-76, High Road, Wormley, EN10 6DU, United Kingdom.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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:
Plant & machinery
Depreciated at 25% SL
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Prehybrid Ltd
Notes to the Accounts
for the year ended 31 August 2024
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
4
Intangible fixed assets
Goodwill
At 1 September 2023
140,000
Charge for the year
14,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 September 2023
150,000
138,367
288,367
At 31 August 2024
150,000
139,845
289,845
At 1 September 2023
-
32,250
32,250
Charge for the year
-
26,750
26,750
At 31 August 2024
-
59,000
59,000
At 31 August 2024
150,000
80,845
230,845
At 31 August 2023
150,000
106,117
256,117
Amounts falling due within one year
Trade debtors
69,293
6,885
Accrued income and prepayments
14,910
9,893
Other debtors
49,545
49,545
Amounts falling due after more than one year
Prehybrid Ltd
Notes to the Accounts
for the year ended 31 August 2024
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
301,468
197,289
Taxes and social security
54,883
28,685
Other creditors
117,748
13,291
Loans from directors
355,487
369,912
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Creditors: amounts falling due after more than one year
2024
2023
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Transactions with related parties
Director is also the director of Prehybrid Holding Ltd.
At the end of the reporting date, Prehybrid Holding Ltd owes the company £533,537 (2023 - NIL).
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Average number of employees
During the year the average number of employees was 14 (2023: 11).