Primus Holdings Limited 31/12/2022 iXBRL

PRIMUS HOLDINGS LIMITED - Company Information

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Company registration number: 09433310

Primus Holdings Limited

Unaudited filleted financial statements

31 December 2022

Primus Holdings Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Primus Holdings Limited

Directors and other information


	Directors	Mr M J E Tidd
		Mr N G Sammes


	Company number	09433310


	Registered office	Vaughan Chambers
		Vaughan Road
		Harpenden
		Hertfordshire
		AL5 4EE


	Accountants	Hicks and Company
		Chartered Accountants
		Vaughan Chambers
		Vaughan Road
		Harpenden
		Hertfordshire
		AL5 4EE

Primus Holdings Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Primus Holdings Limited

Year ended 31 December 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Primus Holdings Limited for the year ended 31 December 2022 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Primus Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 30 October 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Primus Holdings Limited and state those matters that we have agreed to state to the board of directors of Primus Holdings Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Primus Holdings Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Primus Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Primus Holdings Limited. You consider that Primus Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Primus Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hicks and Company

Chartered Accountants

Vaughan Chambers

Vaughan Road

Harpenden

Hertfordshire

AL5 4EE

28 September 2023

Primus Holdings Limited

Statement of financial position

31 December 2022

		2022		2021
	Note	£	£	£	£

Fixed assets
Investments	5	24,379		24,379
		_______		_______
			24,379		24,379

Current assets
Debtors	6	184,991		184,991
		_______		_______
		184,991		184,991
Creditors: amounts falling due
within one year	7	( 25,000)		( 25,000)
		_______		_______
Net current assets			159,991		159,991
			_______		_______
Total assets less current liabilities			184,370		184,370

			_______		_______
Net assets			184,370		184,370
			_______		_______

Capital and reserves
Called up share capital			24,375		24,375
Profit and loss account			159,995		159,995
			_______		_______
Shareholders funds			184,370		184,370
			_______		_______

For the year ending 31 December 2022 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.

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 statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 28 September 2023 , and are signed on behalf of the board by:

Mr M J E Tidd

Director

Company registration number: 09433310

Primus Holdings Limited

Notes to the financial statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, Hertfordshire, AL5 4EE.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 pay or recover 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.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).

5. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 January 2022 and 31 December 2022	24,379	24,379
	_______	_______
Impairment
At 1 January 2022 and 31 December 2022	-	-
	_______	_______
Carrying amount
At 31 December 2022	24,379	24,379
	_______	_______
At 31 December 2021	24,379	24,379
	_______	_______

6. Debtors

	2022	2021
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	184,991	184,991
	_______	_______

The intercompany balance of £184,991 is due from Primus Build Ltd which entered a company voluntary arrangement ("CVA") on 27 July 2017.

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	25,000	25,000
	_______	_______

8. Related party transactions

Mr M Tidd and Mr N Sammes are both directors in Primus Interiors Ltd. As at 31 December 2022 the balance due from Primus Interiors Ltd was £25,000 (2021 - £25,000)