Primus Build Limited 30/12/2024 iXBRL

Company registration number: 06060123

Primus Build Limited

Unaudited filleted financial statements

30 December 2024

Primus Build Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Primus Build Limited

Directors and other information


	Directors	Mr M J E Tidd
		Mr N G Sammes


	Company number	06060123


	Registered office	Vaughan Chambers
		Vaughan Road
		Harpenden
		AL5 4EE


	Accountants	Hicks and Company
		Chartered Accountants
		Vaughan Chambers
		Vaughan Road
		Harpenden
		AL5 4EE




	Bankers	The Royal Bank of Scotland
		62/63 Threadneedle Street
		London
		EC2A 8LA

Primus Build Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Primus Build Limited

Period ended 30 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Primus Build Limited for the period ended 30 December 2024 which comprise the statement of financial position and 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Primus Build Limited, as a body, in accordance with the terms of our engagement letter dated 30 October 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Primus Build Limited and state those matters that we have agreed to state to the board of directors of Primus Build Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Primus Build Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Primus Build Limited 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 Primus Build Limited. You consider that Primus Build Limited 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 Primus Build Limited. 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.

Hicks and Company

Chartered Accountants

Vaughan Chambers

Vaughan Road

Harpenden

AL5 4EE

23 December 2025

Primus Build Limited

Statement of financial position

30 December 2024

		30/12/24		31/12/23
	Note	£	£	£	£

Current assets
Debtors	5	3,500		3,500
Cash at bank and in hand		26,478		343
		__________		__________
		29,978		3,843
Creditors: amounts falling due
within one year	6	( 6,116,450)		( 6,118,182)
		__________		__________
Net current liabilities			( 6,086,472)		( 6,114,339)
			__________		__________
Total assets less current liabilities			( 6,086,472)		( 6,114,339)

			__________		__________
Net liabilities			( 6,086,472)		( 6,114,339)
			__________		__________

Capital and reserves
Called up share capital			24,375		24,375
Share premium account			685,875		685,875
Capital redemption reserve			1,250		1,250
Profit and loss account			( 6,797,972)		( 6,825,839)
			__________		__________
Shareholders deficit			( 6,086,472)		( 6,114,339)
			__________		__________

For the period ending 30 December 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 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 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 income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mr M J E Tidd

Director

Company registration number: 06060123

Primus Build Limited

Notes to the financial statements

Period ended 30 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, AL5 4EE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in 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 financial assets measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Company entered a Company Voluntary Arrangement ("CVA") on 27 July 2017 and the liabilities at the balance sheet date as shown in these accounts exceed the value of total assets. The Company's CVA is ongoing, the terms of which were varied on 26 February 2019, and accordingly the final outcome is uncertain, however, even though the Company continues to pursue claims against its former clients for the benefit of its creditor, the company was not a going concern at the balance sheet date.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the current revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The directors consider that there are no key sources of judgements or estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

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.In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Taxation

The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Long term contracts

The principal estimation technique used by the company in attributing profit on contracts to a particular accounting period is the preparation of forecasts on a contract-by-contract basis. These focus on costs to completion and enable an assessment to be made of the final outturn on each contract. Consistent contract review procedures are in place in respect of contract forecasting. Profits on long term contracts are calculated in accordance with SSAP 9 Stocks and Long-term Contracts. A reduced level of gross profit is recognised on long-term contracts until they are sufficiently complete to enable overall contract profit to be estimated with reasonable certainty. Provision is made for all losses incurred to the accounting date together with any further losses that are foreseen in bringing contracts to completion. Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Trade and other debtors

Trade and other debtors are recognised at transaction price less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, deposits with banks, other short-term highly liquid investments and bank overdrafts. In the statement of financial position, bank overdrafts are shown within the borrowings in current liabilities.

Trade and other creditors

Trade and other creditors are recognised at transaction price.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 2 (2023: 2 ).

5. Debtors

	30/12/24	31/12/23
	£	£
Other debtors	3,500	3,500
	__________	__________

6. Creditors: amounts falling due within one year

	30/12/24	31/12/23
	£	£
Bank loans and overdrafts	200,000	200,000
Trade creditors	1,604,268	1,612,185
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,488,993	2,495,540
Social security and other taxes	1,096,001	1,096,169
Other creditors	727,188	714,288
	__________	__________
	6,116,450	6,118,182
	__________	__________

7. Contingent assets and liabilities

The company was part of a VAT group with Primus Holdings Ltd, Primus Interiors Ltd, Primus Construction Ltd and Primus Residence Ltd until 30 June 2017. The total balance owed to HMRC by all companies as at 31 December 2024 was £260,215 (2023 - £260,215) of which only the VAT repayable relating to Primus Build Ltd of £3,500 has been included in the financial statements.

8. Related party transactions

Mr M Tidd and Mr N Sammes are both directors and shareholders in Alpha Consultant Services Ltd. During the year ended 30 December 2024, the company paid funds to Alpha Consultant Services Ltd of £6,547 (2023 - £3,350 - received funds from Alpha Consultant Services Ltd). As at 30 December 2024 the balance due to Alpha Consultant Services Ltd was £nil (2023 - £6,547).Mr M Tidd and Mr N Sammes are both directors in Primus Construction Ltd. During the year ended 30 December 2024, the company received funds from Primus Construction Ltd of £nil (2023 - £4,185). As at 30 December 2024 the balance due to Primus Construction Ltd was £2,304,002 (2023 - £2,304,002).Mr M Tidd and Mr N Sammes are both directors and shareholders in Primus Holdings Ltd. As at 30 December 2024 the balance due to Primus Holdings Ltd was £184,991 (2023 - £184,991).

9. Ultimate parent undertaking

The immediate and ultimate holding company is Primus Holdings Limited, a company registered in England and Wales.