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Registered Number: 11286945
England and Wales

 

 

 

PRIMEUS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2024

End date: 31 March 2025
Directors Peter ECHIEH
Barbara Onyinyechukwu PETE-ECHIEH
Registered Number 11286945
Registered Office 76 SNOWBEERRY CRESCENT
WARRINGTON
WA5 1DW
Accountants A1 Accountax
Gilbert Wakefield House
67 Bewsey Street
Warrington
WA2 7JQ
Secretary Barbara PETE-ECHIEH
1
  2025   2024
    £ £   £ £
Fixed assets   96,923      96,923 
Current assets 1,264      177   
Creditors: amount falling due within one year (88,105)     (91,092)  
Net current assets   (86,841)     (90,915)
Total assets less current liabilities   10,082      6,008 
Creditors: amount falling due after more than one year   (2,150)     (3,835)
Net assets   7,932      2,173 
 

         
Capital and reserves   7,932      2,173 
 
NOTES TO THE ACCOUNTS

General Information
PRIMEUS LTD is a private company, limited by shares, registered in England and Wales, registration number 11286945, registration address 76 SNOWBEERRY CRESCENT, WARRINGTON, WA5 1DW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
2.

Average number of employees

Average number of employees during the year was 0 (2024 : 0).

3.

Prior Period Adjustment – Omission of Fixed Assets and Related Liability

During the preparation of the financial statements for the year ended 31 March 2025, the directors identified that two properties acquired in the year ended 31 March 2022 had not been recognised in the financial statements for that year or subsequent periods.


The properties were purchased on:

  • 27 May 2021
  • 18 August 2021

Both properties were funded entirely by the director, and the corresponding liability was intended to be reflected in the directors current account. However, due to an oversight, neither the fixed assets nor the related liability were recorded in the companys books.

As a result, as at 31 March 2022, 2023, and 2024:
  • Fixed assets were understated by £89,673
  • Current liabilities (directors current account) were understated by £89,673
  • There was no impact on retained earnings, profit or loss, or taxation

This error has been corrected in the financial statements for the year ended 31 March 2025 by:

  • Recognising the previously omitted properties in fixed assets at their original cost of £89,673
  • Recognising the corresponding directors loan in current liabilities
  • Restating the comparative figures for the year ended 31 March 2024 accordingly
The impact of the correction on the balance sheet as at 31 March 2024 is as follows:

Balance Sheet           Previously
Line Item                    Reported               Adjustment          Restated
_______________              ______________          ________________        ___________

Fixed Assets               £7,250                      £89,673                  £96,923
Current Assets              £177                               £0                        £177
Creditors <1 year      (£1,419)                    (£89,673)               (£91,092)

Total Assets
Less
Current Liabilities  £6,008                                                      £6,008

The correction has no impact on the profit and loss account, retained earnings, or tax liabilities for any period.



For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

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

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 06 May 2025 and were signed on its behalf by:


--------------------------------
Peter ECHIEH
Director
2