REGISTERED NUMBER: 05202192 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Primeoutlet Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms S Donnachie

REGISTERED OFFICE:

Unit 8

Lamby Park Industrial Estate

Cardiff

CF3 2EX

REGISTERED NUMBER:

05202192 (England and Wales)

ACCOUNTANTS:

DHB Accountants Limited

Chartered Accountants

Statutory Auditors

110 Whitchurch Road

Cardiff

CF14 3LY

FIXED ASSETS

Intangible assets

4

276,000

324,000

Tangible assets

5

5,495

6,868

281,495

330,868

CURRENT ASSETS

Debtors

6

38,426

30,061

Cash at bank

118,949

149,162

157,375

179,223

CREDITORS

Amounts falling due within one year

7

22,532

257,150

NET CURRENT ASSETS/(LIABILITIES)

134,843

(77,927

)

TOTAL ASSETS LESS CURRENT LIABILITIES

416,338

252,941

CREDITORS

Amounts falling due after more than one year

8

(526,904

)

(646,904

)

NET ASSETS

943,242

899,845

CAPITAL AND RESERVES

Called up share capital

401

401

Retained earnings

942,841

899,444

SHAREHOLDERS' FUNDS

943,242

899,845

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 23 December 2025 and were signed by:

Ms S Donnachie - Director

1.	STATUTORY INFORMATION

Primeoutlet Limited 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.

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.

The financial statements are presented in pounds sterling.

Turnover

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

Turnover is recognized to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.

Tangible fixed assets

Tangible fixed assets, other than Investment Properties, are measured at cost with depreciation provided at the rate of 20% on a reducing balance basis in order to write the cost of those assets over the estimated useful lives.

Investment property

Investment properties are carried at fair value determined annually by the directors, advised by external valuers as necessary, and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location and condition of the specific asset. No depreciation is provided. Changes in fair value are recognized in the Statement of Comprehensive Income.

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.

Taxation

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.

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 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

324,000

Disposals

(48,000

)

At 31 March 2025

276,000

NET BOOK VALUE

At 31 March 2025

276,000

At 31 March 2024

324,000

Intangible assets includes goodwill acquired from a business acquisition and certain rights attaching to taxi motor vehicles. The directors are of the view that intangible assets are fairly stated at cost and that amortization as required by accounting standards is not, in their opinion, necessary in order to show a true and fair view.

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

49,223

DEPRECIATION

At 1 April 2024

42,355

Charge for year

1,373

At 31 March 2025

43,728

NET BOOK VALUE

At 31 March 2025

5,495

At 31 March 2024

6,868

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

12,233

11,308

Amounts owed by participating interests

224

224

Other debtors

25,969

18,529

38,426

30,061

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

2,180

Taxation and social security

18,532

233,964

Other creditors

4,000

21,006

22,532

257,150

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

(526,904

)

(646,904

)

Included in creditors is an amount representing a loan from a company which is secured by a fixed equitable charge in favour of that shareholder over all property, goodwill , book debts and all other assets.

9.	RELATED PARTY DISCLOSURES

As at the balance sheet date £526,904 was due from companies under common control . No interest is due in relation to these loans.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is C Cummings by virtue of his shareholding.