Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-3082023-10-01falseManagement of a business park8truetruefalse SC423234 2023-10-01 2024-09-30 SC423234 2022-10-01 2023-09-30 SC423234 2024-09-30 SC423234 2023-09-30 SC423234 c:CompanySecretary1 2023-10-01 2024-09-30 SC423234 c:Director1 2023-10-01 2024-09-30 SC423234 c:Director2 2023-10-01 2024-09-30 SC423234 c:Director3 2023-10-01 2024-09-30 SC423234 c:Director4 2023-10-01 2024-09-30 SC423234 c:RegisteredOffice 2023-10-01 2024-09-30 SC423234 d:CurrentFinancialInstruments 2024-09-30 SC423234 d:CurrentFinancialInstruments 2023-09-30 SC423234 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 SC423234 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 SC423234 d:RetainedEarningsAccumulatedLosses 2024-09-30 SC423234 d:RetainedEarningsAccumulatedLosses 2023-09-30 SC423234 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-09-30 SC423234 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-09-30 SC423234 c:FRS102 2023-10-01 2024-09-30 SC423234 c:Audited 2023-10-01 2024-09-30 SC423234 c:FullAccounts 2023-10-01 2024-09-30 SC423234 c:CompanyLimitedByGuarantee 2023-10-01 2024-09-30 SC423234 c:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC423234 2 2023-10-01 2024-09-30 SC423234 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Registered number: SC423234














PRIME FOUR MANAGEMENT LIMITED





(A company limited by guarantee)
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
PRIME FOUR MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

COMPANY INFORMATION


Directors
G M Bone 
S Oag 
D N M Plummer 
J F Hyland 




Company secretary
Brodies Secretarial Services Limited



Registered number
SC423234



Registered office
The Coach House
12 Rubislaw Terrace Lane

Aberdeen

AB10 1XF




Independent auditors
AAB Audit & Accountancy Limited

Kingshill View

Prime Four Business Park

Kingswells

Aberdeen

AB15 8PU





 
PRIME FOUR MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

CONTENTS



Page
Directors' responsibilities statement
1
Balance sheet
2
Notes to the financial statements
3 - 8


 
PRIME FOUR MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 1

 
PRIME FOUR MANAGEMENT LIMITED
  
(A company limited by guarantee)
REGISTERED NUMBER:SC423234

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
236,111
408,707

Cash at bank and in hand
 5 
290,610
155,632

  
526,721
564,339

Creditors: amounts falling due within one year
 6 
(526,767)
(564,386)

Net current liabilities
  
 
 
(46)
 
 
(47)

Total assets less current liabilities
  
(46)
(47)

  

Net liabilities
  
(46)
(47)


Capital and reserves
  

Profit and loss account
  
(46)
(47)

  
(46)
(47)


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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 June 2025.




S Oag
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PRIME FOUR MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Prime Four Management Limited (the company) is a private company limited by guarantee, which is incorporated in the United Kingdom. The address of its registered office and principal place of business is The Coach House, 12 Rubislaw Terrace Lane, Aberdeen, AB10 1XF. 
The principal activity of the company is the provision of property management services.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors, having made due and careful enquiry, are of the opinion that the Company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. 
The company's business model results in all operating costs incurred being recharged to its members and therefore the company expects to have sufficient funds from these recharges to be able to meet its obligations as they fall due.
 
As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements. 

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. Service charge income received is equalised with costs on an annual basis.

  
2.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is not charged on freehold land. Depreciation on other tangible fixed assets is provided at rates calculated to write off the cost of those assets, less their estimated residual value, over their expected useful lives on the following bases:

        Office equipment  -  over 4 years

 
2.5

Interest income

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

 
2.6

Pensions

The company contributes to a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Page 3

 
PRIME FOUR MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Taxation

Current tax, including UK corporation and foreign tax is provided for at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.

 
2.8

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.

 
2.9

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.

 
2.10

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.

Page 4

 
PRIME FOUR MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.
Page 5

 
PRIME FOUR MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).

Page 6

 
PRIME FOUR MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Debtors

2024
2023
£
£


Trade debtors
236,103
408,707

Other debtors
8
-

236,111
408,707



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
290,610
155,632



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,386
28,457

Other taxation and social security
59,351
99,043

Other creditors
461,030
436,886

526,767
564,386



7.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
290,610
155,632




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.
 



8.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

Page 7

 
PRIME FOUR MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Pension commitments

The company contributes to a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable. Contributions totalling £798 (2023 - £835) were payable to the fund at the year end.


10.


Related party transactions

Transactions
During the year recharges of costs totalling £1,415,809 (2023 - £1,041,259) were raised to companies which are also members of the Company.  Part of this income has been deferred at the year end.  The balance owed by members at the year end was £193,506 (2023 - £186,018).
 


11.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 20 June 2025 by Christopher Masson (Senior statutory auditor) on behalf of AAB Audit & Accountancy Limited.


Page 8