Prime Choice Limited - Accounts to registrar (filleted) - small 18.2
Prime Choice Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
| FOR |
| PRIME CHOICE LIMITED |
| PRIME CHOICE LIMITED (REGISTERED NUMBER: 02714310) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 SEPTEMBER 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| PRIME CHOICE LIMITED |
| COMPANY INFORMATION |
| for the year ended 30 SEPTEMBER 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANT: |
| 155 Wellingborough Road |
| Rushden |
| Northamptonshire |
| NN10 9TB |
| PRIME CHOICE LIMITED (REGISTERED NUMBER: 02714310) |
| STATEMENT OF FINANCIAL POSITION |
| 30 SEPTEMBER 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 350,197 | 304,402 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| PRIME CHOICE LIMITED (REGISTERED NUMBER: 02714310) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 SEPTEMBER 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
| PRIME CHOICE LIMITED (REGISTERED NUMBER: 02714310) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 SEPTEMBER 2020 |
| 1. | STATUTORY INFORMATION |
| Prime Choice Limited is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| The company`s turnover represents the value, excluding value added tax, of goods and services supplied to customers |
| during the year. |
| Goodwill |
| Goodwill is now fully amortised. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under |
| hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are |
| depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the |
| future payments is treated as a liability. |
| 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. |
| Government grants and loans |
| During the year, Prime Choice Limited were in receipt of the the local rates government grants and the job retention |
| scheme for two employees. They also took out a government Covid-19 Bounce Back Loan to the value of £50,000, with |
| interest being charged at 2.5%. For the first 12 months of the loan, the UK Government will pay interest due. This is |
| known as the Business Interruption Payment. |
| Starting 13 months after the date of first drawdown, Prime Choice Limited will pay 60 monthly instalments comprising of |
| capital and interest. |
| Covid-19 |
| The accounting period was affected by the Coronavirus pandemic, which has impacted businesses worldwide. At the date |
| of signing the company had not seen any negative effects as a result of the pandemic, and all rent due has been paid in full. |
| The virus continues to have a major impact on UK society but the directors are happy that the accounts can be prepared |
| on a going concern basis. |
| PRIME CHOICE LIMITED (REGISTERED NUMBER: 02714310) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 SEPTEMBER 2020 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 October 2019 |
| and 30 September 2020 |
| AMORTISATION |
| At 1 October 2019 |
| and 30 September 2020 |
| NET BOOK VALUE |
| At 30 September 2020 |
| At 30 September 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 September 2020 |
| DEPRECIATION |
| At 1 October 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 September 2020 |
| NET BOOK VALUE |
| At 30 September 2020 |
| At 30 September 2019 |
| The net book value of tangible fixed assets includes £ 7,765 (2019 - £ 13,616 ) in respect of assets held under hire |
| purchase contracts. |
| PRIME CHOICE LIMITED (REGISTERED NUMBER: 02714310) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 SEPTEMBER 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 9) |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2020 | 2019 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 2020 | 2019 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| PRIME CHOICE LIMITED (REGISTERED NUMBER: 02714310) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 SEPTEMBER 2020 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts | 15,653 | 11,222 |
| The hire purchase debt is secured against the vehicles to which it relates. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| "A" | £1 | 3,400 | 3,400 |
| "B" | £1 | 600 | 600 |
| 4,000 | 4,000 |