Companies House iXbrl

PRIMO IT LTD - Company Information

Print Friendly Version

Registered number: 09050384

Primo It Ltd

Unaudited Financial Statements

for the period ended 31 May 2020

Statement of Financial Position

as at 31 May 2020

2020

Period ended
Mar 2020

Called up share capital not paid

Fixed assets

1,628

Current assets

17,692

21,084

Prepayments and accrued income

Creditors: amounts falling due within one year

( 10,982 )

( 15,161 )

Net current assets (liabilities)

6,710

5,923

Total assets less current liabilities

6,710

7,551

Creditors: amounts falling due after more than one year

Provisions for liabilities

Accruals and deferred income

( 480 )

Net assets

6,230

7,071

Capital and reserves

6,230

7,071

xbrli:pure 09050384 2020-04-01 2020-05-31 09050384 2019-04-01 2020-03-31 09050384 2020-05-31 09050384 2020-03-31 09050384 2020-04-01 09050384 uk-frs102:WithinOneYear 2020-05-31 09050384 uk-frs102:AfterOneYear 2020-05-31 09050384 uk-frs102:WithinOneYear 2020-03-31 09050384 uk-frs102:AfterOneYear 2020-03-31 09050384 uk-bus:AuditExempt-NoAccountantsReport 2020-04-01 2020-05-31 09050384 uk-bus:AbbreviatedAccounts 2020-04-01 2020-05-31 09050384 uk-bus:Director1 1 2020-04-01 2020-05-31 09050384 uk-bus:Director2 2 2020-04-01 2020-05-31 09050384 uk-bus:Director1 2020-04-01 2020-05-31 09050384 uk-bus:Director2 2020-04-01 2020-05-31 09050384 uk-bus:Director1 1 2020-04-01 09050384 uk-bus:Director2 2 2020-04-01 09050384 uk-bus:Director1 1 2020-05-31 09050384 uk-bus:Director2 2 2020-05-31 09050384 uk-bus:Micro-entities 2020-04-01 2020-05-31 09050384 uk-bus:PrivateLimitedCompanyLtd 2020-04-01 2020-05-31 iso4217:GBP 09050384 countries:EnglandWales 2020-04-01 2020-05-31 09050384 uk-bus:RegisteredOffice 2020-04-01 2020-05-31

Footnotes to the Statement of Financial Position

1. Arrangements not included in Statement of Financial Position

The company has not entered into any arrangements not shown on the Statement of Financial Position.

2. Average number of employees

The average number of employees in the period was 2.

3. Directors’ benefits: advances, credit and guarantees

Gautam Narain

Included in debtors is an amount payable to the company by one of its directors. The amount is an advance of Â£1,134 made to Gautam Narain, a director of the company, on 01/04/2020.

During the accounting period the maximum amount payable by Gautam Narain was Â£2,706

The following conditions are attached to the amount payable by Gautam Narain:

There is no interest due to be paid on any outstanding amount
No fixed date has been set for the amount to be repaid to the company.

Opening balance 01/04/2020	Additional advance	Amount repaid	Amount written off	Amounts waived	Interest payable	Closing balance 31/05/2020
£	£	£	£	£	£	£
( 1,987 )	( 1,134 ) ( 1,134 )	1,987 1,987	0	0	0	( 1,134 )

Shubhra Narain

Included in debtors is an amount payable to the company by one of its directors. The amount is an advance of Â£1,135 made to Shubhra Narain, a director of the company, on 29/05/2020.

During the accounting period the maximum amount payable by Shubhra Narain was Â£1,135

The following conditions are attached to the amount payable by Shubhra Narain:

There is no interest due to be paid on any outstanding amount
No fixed date has been set for the amount to be repaid to the company.

Opening balance 01/04/2020	Additional advance	Amount repaid	Amount written off	Amounts waived	Interest payable	Closing balance 31/05/2020
£	£	£	£	£	£	£
3,189	( 4,324 ) ( 4,324 )	0 0	0	0	0	( 1,135 )

4. Guarantees, contingencies and other financial commitments

There are no guarantees, contingencies or other commitments not included in the financial statements.

5. Going Concern

The company ceased to trade during the period and the accounts have been prepared on a break-up basis.

Statutory Statements

In accordance with section 414(3) of the Companies Act 2006, these accounts have been prepared in accordance with the FRS 105: The Financial Reporting Standard applicable to the Micro-entities Regime for periods commencing on or after 1 January 2016. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

For the period ending 31/05/2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of Companies Act 2006 with respect to accounting records and the preparation of accounts