Primatel Limited
Primatel Limited
Registered number: 09401279
Unaudited ABRIDGED Financial Statements
For The Year Ended
31 January 2020
Primatel Limited
Unaudited Financial Statements
For The Year Ended
31 January 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Balance Sheet | 1—2 |
| Notes to the Abridged Financial Statements | 3—5 |
Primatel Limited
Abridged Balance Sheet
As at
31 January 2020
Abridged Balance Sheet
Registered number:
09401279
For the year ending 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
|
|
||
| Investments | 4 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Debtors |
|
|
|||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year |
( |
( |
|||
| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
( |
|||
| NET ASSETS/(LIABILITIES) |
|
( |
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
|
|
||
| Share premium account |
|
|
|||
| Profit and Loss Account |
( |
( |
|||
| SHAREHOLDERS' FUNDS | 20,234 | (132,052) | |||
Page 1
Primatel Limited
Abridged Balance Sheet (continued)
As at
31 January 2020
Director's responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
-
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 January 2020 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Primatel Limited
Notes to the Abridged Financial Statements
For The Year Ended
31 January 2020
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2019: 2)
3.
Intangible Assets
| Total | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at
|
|
||
| As at
|
|
||
| Amortisation | |||
| As at
|
|
||
| Provided during the period |
|
||
| As at
|
|
||
| Net Book Value | |||
| As at
|
|
||
| As at
|
|
||
Page 3
Primatel Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended
31 January 2020
4.
Investments
| Total | |
|---|---|
| £ | |
| Cost | |
| As at
|
222,633 |
| As at
|
222,633 |
| Provision | |
| As at
|
- |
| As at
|
- |
| Net Book Value | |
| As at
|
222,633 |
| As at
|
222,633 |
The company holds 100% of the share capital (Ordinary) of Primatel Products Limited, a company registered and incorporated in England and Wales, which supplies credit card machine rolls, related accessories and till rolls.
The aggregate amount of capital and reserves and the results of these undertakings for the relevant financial year were as follows;
Profit and Loss for year £23,872
Capital and Reserves; -£291,528
The company holds 100% of the share capital (Ordinary) of Till Roll Giant Limited, a company registered and incorporated in England and Wales, which is dormant company.
The company holds 100% of the share capital (Ordinary) of Till Roll Superstore Limited, a company registered and incorporated in England and Wales, which is dormant company.
The company sold 100% of the share capital (Ordinary) of Instantt Limited, a company registered and incorporated in England and Wales on 29th November 2019to the Director Mr P Holmes for nominal value.
Page 4
Primatel Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended
31 January 2020
6.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
|
Amounts advanced | Amounts repaid | Amounts written off | As at
|
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Peter Galliflent-Holmes |
|
|
|
- |
|
The above loan is unsecured, interest free and repayable on demand.
7.
Related Party Transactions
Primatel Products Ltd
100% Subsidiary
Sales made of £NIL (2019 : £320,000)., Purchases made of £895,954 (2019: £874,957),Amounts owed at the end of the year £53,457 (2018: £122,757)
Instantt Ltd
100% Subsdiary until 29 November 2019
Amounts owed at the end of the year £NIL (2019: £73,839)
8.
General Information
Primatel Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
09401279
. The registered office is Dorset House, 297 Kingston Road, Leatherhead, Surrey, KT22 7PL.
Page 5