Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302023-10-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08572797 2023-10-01 2024-09-30 08572797 2022-10-01 2023-09-30 08572797 2024-09-30 08572797 2023-09-30 08572797 c:Director1 2023-10-01 2024-09-30 08572797 d:OfficeEquipment 2023-10-01 2024-09-30 08572797 d:OfficeEquipment 2024-09-30 08572797 d:OfficeEquipment 2023-09-30 08572797 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08572797 d:CurrentFinancialInstruments 2024-09-30 08572797 d:CurrentFinancialInstruments 2023-09-30 08572797 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 08572797 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 08572797 d:ShareCapital 2024-09-30 08572797 d:ShareCapital 2023-09-30 08572797 d:OtherMiscellaneousReserve 2023-10-01 2024-09-30 08572797 d:OtherMiscellaneousReserve 2024-09-30 08572797 d:OtherMiscellaneousReserve 2023-09-30 08572797 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 08572797 d:RetainedEarningsAccumulatedLosses 2024-09-30 08572797 d:RetainedEarningsAccumulatedLosses 2023-09-30 08572797 c:OrdinaryShareClass1 2023-10-01 2024-09-30 08572797 c:OrdinaryShareClass1 2024-09-30 08572797 c:FRS102 2023-10-01 2024-09-30 08572797 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 08572797 c:FullAccounts 2023-10-01 2024-09-30 08572797 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08572797 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-01 2024-09-30 08572797 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-09-30 08572797 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-09-30 08572797 2 2023-10-01 2024-09-30 08572797 6 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08572797









PRIMARY TRADINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
PRIMARY TRADINGS LIMITED
 

CONTENTS



Page
Balance sheet
 
 
1 - 2
Notes to the financial statements
 
 
3 - 9


 
PRIMARY TRADINGS LIMITED
REGISTERED NUMBER: 08572797

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
712
93

Investments
 5 
15,000
16,638

  
15,712
16,731

Current assets
  

Debtors: amounts falling due within one year
 6 
2,065
10,282

Cash at bank and in hand
  
20,696
494

  
22,761
10,776

Creditors: amounts falling due within one year
 7 
(28,007)
(22,496)

Net current liabilities
  
 
 
(5,246)
 
 
(11,720)

Total assets less current liabilities
  
10,466
5,011

Provisions for liabilities
  

Deferred tax
  
(69)
(26)

  
 
 
(69)
 
 
(26)

Net assets
  
10,397
4,985


Capital and reserves
  

Called up share capital 
  
1
1

Other reserves
  
-
(2,962)

Profit and loss account
  
10,396
7,946

  
10,397
4,985


The director considers 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 director acknowledges his 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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
PRIMARY TRADINGS LIMITED
REGISTERED NUMBER: 08572797
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 June 2025.





M A Everett
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PRIMARY TRADINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

The company is a private company limited by shares. It is incorporated and domiciled in England and Wales. The registered office address is 7 The Close, Norwich, Norfolk, NR1 4DJ.
The company's prinicipal activity is that of business and domestic software development. The principal place of business is Norwich, Norfolk.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
PRIMARY TRADINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

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.

Page 4

 
PRIMARY TRADINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

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 Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 5

 
PRIMARY TRADINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

Financial instruments

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 and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Page 6

 
PRIMARY TRADINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.14

Dividends

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 October 2023
12,711


Additions
1,078



At 30 September 2024

13,789



Depreciation


At 1 October 2023
12,618


Charge for the year on owned assets
459



At 30 September 2024

13,077



Net book value



At 30 September 2024
712



At 30 September 2023
93

Page 7

 
PRIMARY TRADINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 October 2023
16,638


Disposals
(1,638)



At 30 September 2024
15,000





6.


Debtors

2024
2023
£
£


Trade debtors
-
2,519

Other debtors
2,065
7,098

Prepayments and accrued income
-
665

2,065
10,282



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2
500

Other taxation and social security
6,563
-

Other creditors
18,702
19,656

Accruals and deferred income
2,740
2,340

28,007
22,496



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary share of £1.00
1
1


Page 8

 
PRIMARY TRADINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Reserves

Other reserves

The fair value reserve represents the cumulative value of revaluations of listed investments to fair value, net of deferred tax. The amounts debited or credited to this reserve are transfers from the profit and loss account. Deferred tax is provided for on these fair value adjustments at the standard rate of corporation tax.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.


10.


Related party transactions

As at 30 September 2024 the company owed the director £18,702 (2023: £14,625). The loan is interest free and repayable on demand.

 
Page 9