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REGISTERED NUMBER: 02553506 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Primelocal Property Management Limited

Primelocal Property Management Limited (Registered number: 02553506)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Primelocal Property Management Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: T Fensham
P R Hutton
K Mallaband
O New
N C Tamsitt





SECRETARY: Eroom Limited





REGISTERED OFFICE: 30 Gay Street
Bath
BA1 2PA





REGISTERED NUMBER: 02553506 (England and Wales)

Primelocal Property Management Limited (Registered number: 02553506)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,871 3,871

CURRENT ASSETS
Debtors 5 130 20
Cash at bank 1,825 2,983
1,955 3,003
CREDITORS
Amounts falling due within one year 6 680 680
NET CURRENT ASSETS 1,275 2,323
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,146

6,194

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings 5,141 6,189
5,146 6,194

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by:





K Mallaband - Director


Primelocal Property Management Limited (Registered number: 02553506)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Primelocal Property Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Land and buildings are not depreciated, as in the opinion of the directors the net realisible value of the properties has not reduced below the original cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments
Financial liabilities and equity instruments are classified according to substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return to the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Primelocal Property Management Limited (Registered number: 02553506)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 November 2023
and 31 October 2024 3,871
NET BOOK VALUE
At 31 October 2024 3,871
At 31 October 2023 3,871

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 130 20

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accruals and deferred income 680 680

7. RELATED PARTY DISCLOSURES

The company was under the control of five directors throughout the current and previous year. Each director holds one share in the company and is a flat owner within the property Prospect House, Olivers Lane, Malmesbury, Wiltshire. The company manages this property.

Each flat owner contributes toward the management charge receivable at the rate decided mutually by the shareholders. During the year £780 (2023 - £740) was receivable from each flat owner.