Primebuys Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01196526

Primebuys Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2025

Primebuys Limited

Statement of Financial Position

31 December 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		605,401		690,777

Current assets

Stocks		937,933	906,286
Debtors	6	32,059	36,287
Cash at bank and in hand		2,555	2,279
		----------	----------
		972,547	944,852

Creditors: amounts falling due within one year	7	1,091,112		1,166,060
		-------------		-------------
Net current liabilities			118,565		221,208
			----------		----------
Total assets less current liabilities			486,836		469,569

Creditors: amounts falling due after more than one year	8		164,151		183,284

Provisions

Taxation including deferred tax	3,888	3,982
	----------	----------
Net assets	318,797	282,303
	----------	----------

Capital and reserves

Called up share capital	100	100
Undistributable reserve	27,712	27,712
Profit and loss account	290,985	254,491
	----------	----------
Shareholders funds	318,797	282,303
	----------	----------

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 income statement has not been delivered.

For the year ending 31 December 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 year 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 .

Primebuys Limited

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 4 August 2026 , and are signed on behalf of the board by:

Mr C D Thompson	Mr D F E Thompson
Director	Director

Company registration number: 01196526

Primebuys Limited

Notes to the Financial Statements

Year ended 31 December 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 Unit 7A, Bessingby Industrial Estate, Bridlington, East Yorkshire, DN14 6SJ.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by 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.

(b) Going concern

The UK economy continues to face a degree of economic uncertainty, including the ongoing effects of inflation, interest rates and energy costs. These factors have impacted the company's trading results to varying degress. In preparing these financial statements, the directors have considered the potential impact of these matters based on the information available at the date of approval and do not believe they will affect the company's ability to continue trading for the foreseeable future. Accordingly, at the date of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements. The directors have therefore prepared the financial statements on a going concern basis.

(c) Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. The company recognises income from property development at the point of completion of the contract of sale. Income from rents receivable is recognised in accordance with the agreed terms of the relevant lease agreements.

(d) Current and deferred 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 be paid or recovered 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.

(e) Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

(f) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

(g) 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	-	10% reducing balance

(h) Stocks

Stock of properties for resale is valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes direct expenditure incurred on acquiring and placing properties in an appropriate condition for sale.

(i) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 3 ).

5. Tangible assets

	Investment property	Plant and machinery	Total
	£	£	£
Cost
At 1 January 2025	687,027	31,824	718,851
Disposals	( 85,000)	–	( 85,000)
	----------	--------	----------
At 31 December 2025	602,027	31,824	633,851
	----------	--------	----------
Depreciation
At 1 January 2025	–	28,074	28,074
Charge for the year	–	376	376
	----------	--------	----------
At 31 December 2025	–	28,450	28,450
	----------	--------	----------
Carrying amount
At 31 December 2025	602,027	3,374	605,401
	----------	--------	----------
At 31 December 2024	687,027	3,750	690,777
	----------	--------	----------

Tangible assets held at valuation

The investment properties were valued in December 2025 by the directors who have experience in the location and category of the investment properties being valued.

6. Debtors

	2025	2024
	£	£
Trade debtors	31,880	34,372
Other debtors	179	1,915
	--------	--------
	32,059	36,287
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	27,609	61,151
Trade creditors	181	4,897
Director loan accounts	567,292	568,824
Other creditors	496,030	531,188
	-------------	-------------
	1,091,112	1,166,060
	-------------	-------------

The bank loans are secured by a fixed charge over the associated asset and a fixed and floating charge over the company.

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

	2025	2024
	£	£
Bank loans and overdrafts	164,151	183,284
	----------	----------

The bank loans are secured by a fixed charge over the associated asset and a fixed and floating charge over the company.

9. Related party transactions

During the year the directors made available interest free loans to the company which are repayable on demand . As at 31 December 2025 the total balance owed to the directors was £ 567,292 (2024: £ 568,824 ).