1 December 2023 v2025.57.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP098801982023-12-012024-11-30098801982024-11-30098801982023-11-3009880198core:WithinOneYear2024-11-3009880198core:WithinOneYear2023-11-3009880198core:AfterOneYear2024-11-3009880198core:AfterOneYear2023-11-3009880198core:ShareCapital2024-11-3009880198core:ShareCapital2023-11-3009880198core:SharePremium2024-11-3009880198core:SharePremium2023-11-3009880198core:RetainedEarningsAccumulatedLosses2024-11-3009880198core:RetainedEarningsAccumulatedLosses2023-11-3009880198bus:Director12023-12-012024-11-3009880198bus:Director22023-12-012024-11-3009880198bus:RegisteredOffice2023-12-012024-11-3009880198core:OfficeEquipment2023-12-012024-11-3009880198core:FurnitureFittingsToolsEquipment2023-12-012024-11-3009880198core:PlantMachinery2023-12-0109880198core:PlantMachinery2023-12-012024-11-3009880198core:PlantMachinery2024-11-3009880198core:PlantMachinery2023-11-300988019812023-12-012024-11-30098801982022-12-012023-11-3009880198countries:EnglandWales2023-12-012024-11-3009880198bus:AuditExempt-NoAccountantsReport2023-12-012024-11-3009880198bus:PrivateLimitedCompanyLtd2023-12-012024-11-3009880198bus:SmallEntities2023-12-012024-11-3009880198bus:FullAccounts2023-12-012024-11-30
Company registration number:
09880198
Prime Trustee Company Ltd
Unaudited Filleted Financial Statements for the year ended
30 November 2024
Prime Trustee Company Ltd
Statement of Financial Position
30 November 2024
20242023
Note££
Fixed assets    
Tangible assets 5
445
 
115
 
Current assets    
Debtors 6
8,866
 
16,272
 
Cash at bank and in hand
11,144
 
9,830
 
20,010
 
26,102
 
Creditors: amounts falling due within one year 7
10,766
 
4,310
 
Net current assets
30,776
 
30,412
 
Total assets less current liabilities 31,221   30,527  
Creditors: amounts falling due after more than one year 8
(15,301
)
(15,301
)
Net assets
15,920
 
15,226
 
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Share premium
972
 
972
 
Profit and loss account
13,948
 
13,254
 
Shareholders funds
15,920
 
15,226
 
For the year ending
30 November 2024
, 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
14 August 2025
, and are signed on behalf of the board by:
G Williams
D Occari
DirectorDirector
Company registration number:
09880198
Prime Trustee Company Ltd
Notes to the Financial Statements
Year ended
30 November 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
3.12 East London Works
,
65 Whitechapel Road
,
London
,
E1 1DU
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and Value Added Tax.
Turnover includes revenue earned from the rendering of professional services.
Rendering of services
Turnover from the rendering of professional services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Taxation

Taxation represents the sum of tax currently payable and deferred tax.
The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
33.3% straight line
Fixtures, fittings and equipment
25% straight line

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non convertible preference and non puttable ordinary shares which are measured at fair value with changes recognised in the profit and loss.
Derivative financial instruments are initially recorded at cost and there after at fair value with changes recognised in the profit and loss.

Foreign exchange

The transactions denominated in foreign currency are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction.
Balances at the year end denominated in a foreign currency are translated at the rate of exchange ruling at the balance sheet date

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 December 2023
516
 
Additions
330
 
At
30 November 2024
846
 
Depreciation  
At
1 December 2023
and
30 November 2024
401
 
Carrying amount  
At
30 November 2024
445
 
At 30 November 2023
115
 

6 Debtors

20242023
££
Trade debtors
(2,788
)
4,521
 
Other debtors
11,654
 
11,751
 
8,866
 
16,272
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
(10,929
)
(4,748
)
Taxation and social security
163
 
438
 
(10,766
)
(4,310
)
The aggregate amount of creditors for which security has been given amounted to £0.

8 Creditors: amounts falling due after more than one year

20242023
££
Amounts owed to group undertakings and undertakings in which the company has a participating interest
15,301
 
15,301