Prime Autos & Repairs Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 15706064

Prime Autos & Repairs Ltd

Filleted Unaudited Financial Statements

30 June 2025

Prime Autos & Repairs Ltd

Financial Statements

Period from 7 May 2024 to 30 June 2025

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Prime Autos & Repairs Ltd

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Prime Autos & Repairs Ltd

Period from 7 May 2024 to 30 June 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Prime Autos & Repairs Ltd for the period ended 30 June 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Prime Autos & Repairs Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Prime Autos & Repairs Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prime Autos & Repairs Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Prime Autos & Repairs Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Prime Autos & Repairs Ltd. You consider that Prime Autos & Repairs Ltd is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Prime Autos & Repairs Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HEBBLETHWAITES Chartered accountants

2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ

12 December 2025

Prime Autos & Repairs Ltd

Statement of Financial Position

30 June 2025

	30 Jun 25
Note	£

Fixed assets

Tangible assets	5	298,914

Current assets

Debtors	6	28,887
Cash at bank and in hand		200,659
		---------
		229,546

Creditors: amounts falling due within one year	7	342,189
		---------
Net current liabilities		112,643
		---------
Total assets less current liabilities		186,271

Creditors: amounts falling due after more than one year	8	150,118

Provisions	9,110
	---------
Net assets	27,043
	---------

Prime Autos & Repairs Ltd

Statement of Financial Position (continued)

30 June 2025

	30 Jun 25
Note	£

Capital and reserves

Called up share capital	100
Profit and loss account	26,943
	--------
Shareholders funds	27,043
	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the period ending 30 June 2025 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 period 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 were approved by the board of directors and authorised for issue on 28 November 2025 , and are signed on behalf of the board by:

Mr E J Hattersley

Director

Company registration number: 15706064

Prime Autos & Repairs Ltd

Notes to the Financial Statements

Period from 7 May 2024 to 30 June 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Westbrook Court, Sharrow Vale Road, Sheffield, S11 8YZ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. In the opinion of management, there are no judgements or key sources of estimation uncertainty that have a significant impact on the financial statements, other than those stated below.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Commercial vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial statements are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 5 .

5. Tangible assets

	Plant and machinery	Commercial vehicles	Total
	£	£	£
Cost
At 7 May 2024	–	–	–
Additions	78,002	281,519	359,521
	--------	---------	---------
At 30 June 2025	78,002	281,519	359,521
	--------	---------	---------
Depreciation
At 7 May 2024	–	–	–
Charge for the period	13,222	47,385	60,607
	--------	---------	---------
At 30 June 2025	13,222	47,385	60,607
	--------	---------	---------
Carrying amount
At 30 June 2025	64,780	234,134	298,914
	--------	---------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Commercial vehicles
	£
At 30 June 2025	234,134
	---------

6. Debtors

	30 Jun 25
	£
Trade debtors	19,930
Other debtors	8,957
	--------
	28,887
	--------

7. Creditors: amounts falling due within one year

	30 Jun 25
	£
Trade creditors	19,650
Social security and other taxes	32,187
Other creditors	290,352
	---------
	342,189
	---------

Included within creditors falling due within one year are loans and financial arrangements in the sum of £63,342 that are secured against the assets of the company to which they relate.

8. Creditors: amounts falling due after more than one year

	30 Jun 25
	£
Other creditors	150,118
	---------

Included within creditors falling due after more than one year are loans and financial arrangements in the sum of £150,118 that are secured against the assets of the company to which they relate.

9. Directors' advances, credits and guarantees

A loan account exists between the company and its directors. At the period end date, the directors were indebted to the company, in this regard, in the total sum of £1,229.

10. Related party transactions

Included within creditors at the period end date is a loan which the company owes to a related party company under common control and amounting to £93,348. The balance results from advances made to the company by the related party company and is not subject to any formal repayment terms and neither is any interest chargeable.