Prime Automation Installations Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 11717033 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Prime Automation Installations Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N T Lloyd

D Sutton

REGISTERED OFFICE:

Unit 3 Bourne Brook Farm

Sutton Road

Tamworth

Staffordshire

B78 3DX

REGISTERED NUMBER:

11717033 (England and Wales)

ACCOUNTANTS:

Pride Accountants

Polymer Court

Hope Street

Dudley

West Midlands

DY2 8RS

FIXED ASSETS

Tangible assets

4

68,760

55,070

CURRENT ASSETS

Stocks

8,925

8,710

Debtors

5

170,529

116,500

Cash at bank

1,317,713

309,325

1,497,167

434,535

CREDITORS

Amounts falling due within one year

6

538,210

187,583

NET CURRENT ASSETS

958,957

246,952

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,027,717

302,022

CREDITORS

Amounts falling due after more than one
year

7

(8,202

)

(18,262

)

PROVISIONS FOR LIABILITIES

9

(17,190

)

(10,463

)

NET ASSETS

1,002,325

273,297

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

1,002,225

273,197

SHAREHOLDERS' FUNDS

1,002,325

273,297

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 4 August 2025 and were signed on its behalf by:

N T Lloyd - Director

D Sutton - Director

1.	STATUTORY INFORMATION

Prime Automation Installations Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Office

machinery

vehicles

equipment

Totals

£

COST

At 1 January 2024

-

86,674

10,127

96,801

Additions

31,950

-

5,615

37,565

At 31 December 2024

31,950

86,674

15,742

134,366

DEPRECIATION

At 1 January 2024

-

34,595

7,136

41,731

Charge for year

7,988

13,020

2,867

23,875

At 31 December 2024

7,988

47,615

10,003

65,606

NET BOOK VALUE

At 31 December 2024

23,962

39,059

5,739

68,760

At 31 December 2023

-

52,079

2,991

55,070

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

166,826

112,540

Other debtors

3,703

3,960

170,529

116,500

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

10,000

Trade creditors

117,458

66,293

Taxation and social security

358,958

58,333

Other creditors

51,794

52,957

538,210

187,583

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

8,202

18,262

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

Within one year

14,400

12,150

Between one and five years

8,400

21,600

22,800

33,750

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

17,190

10,463

Deferred

tax

£

Balance at 1 January 2024

10,463

Provided during year

6,727

Balance at 31 December 2024

17,190

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

100

Ordinary

£1

100

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.