Prime Handling Ltd - Filleted accounts

Registered number

SC522745

Prime Handling Ltd

Filleted Accounts

31 December 2024

Prime Handling Ltd
Registered number:		SC522745
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		18,305			7,749

Current assets
Debtors	4	55,952			3,760
Cash at bank and in hand		8,516			2,647
		64,468			6,407

Creditors: amounts falling due within one year	5	(69,185)			(52,076)

Net current liabilities			(4,717)			(45,669)

Total assets less current liabilities			13,588			(37,920)

Creditors: amounts falling due after more than one year	6		(22,000)			(18,796)



Net liabilities			(8,412)			(56,716)

Capital and reserves
Called up share capital			1			1
Profit and loss account			(8,413)			(56,717)

Shareholder's funds			(8,412)			(56,716)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Douglas Robert Hepburn
Director
Approved by the board on 4 September 2025

Prime Handling Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor Vehicle			25% reducing balance
	Fixtures, fittings and equipment			20% reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					2		2


3	Tangible fixed assets
				Fixtures & fittings		Motor vehicles		Total
£					£		£
	Cost
	At 1 January 2024			16,392		5,190		21,582
	Additions			-		12,300		12,300
	At 31 December 2024			16,392		17,490		33,882

	Depreciation
	At 1 January 2024			12,535		1,298		13,833
	Charge for the year			771		973		1,744
	At 31 December 2024			13,306		2,271		15,577

	Net book value
	At 31 December 2024			3,086		15,219		18,305
	At 31 December 2023			3,857		3,892		7,749


4	Debtors					2024		2023
£							£

	Trade debtors					6,500		-
	Other debtors					37,000		2,838
	Section 455 debtor					12,452		922
						55,952		3,760


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Trade creditors					4,000		-
	Accrued charges					500		1,000
	Other taxes and social security costs					52,233		49,797
	Other creditors					-		357
	Section 455 creditor					12,452		922
						69,185		52,076


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					13,700		18,796
	Obligations under finance lease and hire purchase contracts					8,300		-
						22,000		18,796


7	Loans					2024		2023
£							£
	Creditors include:

	Secured bank loans					8,300		-

	Volkswagen finanacial services has a secured charge over the motor vehicle.


8	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Douglas Robert Hepburn

	Director loan	2,838		34,162				37,000

		2,838		34,162		-		37,000


9	Controlling party

	The director held a 100% beneficial interest in the share capital of the company.


10	Other information

	Prime Handling Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
	Flat 0/3
	15 Mansionhouse Gardens
	Glasgow
	Scotland
	G41 3DB