Company No: 06714323 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Hitesh Kumar Gandesha

REGISTERED OFFICE	Treviot House
	186-192 High Road
	Ilford
	IG1 1LR
	United Kingdom

COMPANY NUMBER

06714323 (England and Wales)

ACCOUNTANT	Gravita Essex Ltd
	Treviot House
	186-192 High Road
	Ilford
	Essex
	IG1 1LR
	United Kingdom

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	652,778		734,457
Tangible assets	4	287,506		105,503
		940,284		839,960
Current assets
Stocks		1,159,648		578,737
Debtors	5	228,308		147,846
Cash at bank and in hand		42,080		28,675
		1,430,036		755,258
Creditors: amounts falling due within one year	6	( 988,130)		( 946,203)
Net current assets/(liabilities)		441,906		(190,945)
Total assets less current liabilities		1,382,190		649,015
Creditors: amounts falling due after more than one year	7	( 1,059,272)		( 453,130)
Provision for liabilities		( 38,900)		( 1,953)
Net assets		284,018		193,932
Capital and reserves
Called-up share capital		100		100
Profit and loss account		283,918		193,832
Total shareholder's funds		284,018		193,932

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Primary Health (London) Limited (registered number: 06714323) were approved and authorised for issue by the Director on 19 June 2025. They were signed on its behalf by:

Hitesh Kumar Gandesha Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Primary Health (London) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Treviot House, 186-192 High Road, Ilford, IG1 1LR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover Represents the total invoice value, excluding value added tax, of sales made during the year

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	15 years straight line
Plant and machinery etc.	4 years straight line

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	18		11

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 March 2023	816,787		816,787
At 29 February 2024	816,787		816,787
Accumulated amortisation
At 01 March 2023	82,330		82,330
Charge for the financial year	81,679		81,679
At 29 February 2024	164,009		164,009
Net book value
At 29 February 2024	652,778		652,778
At 28 February 2023	734,457		734,457

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 March 2023	99,590		25,140		124,730
Additions	61,929		174,886		236,815
At 29 February 2024	161,519		200,026		361,545
Accumulated depreciation
At 01 March 2023	8,579		10,648		19,227
Charge for the financial year	9,345		45,467		54,812
At 29 February 2024	17,924		56,115		74,039
Net book value
At 29 February 2024	143,595		143,911		287,506
At 28 February 2023	91,011		14,492		105,503
Leased assets included above:
Net book value
At 29 February 2024	0		66,104		66,104
At 28 February 2023	0		0		0

5. Debtors

	2024		2023
	£		£
Trade debtors	143,740		118,735
Other debtors	84,568		29,111
	228,308		147,846

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	348,246		292,273
Amounts owed to connected companies	299,325		154,339
Taxation and social security	56,689		54,404
Obligations under finance leases and hire purchase contracts	24,099		0
Other creditors	259,771		445,187
	988,130		946,203

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Amounts owed to connected companies	1,020,362		453,130
Obligations under finance leases and hire purchase contracts	38,910		0
	1,059,272		453,130

There are no amounts included above in respect of which any security has been given by the small entity.