Primis Consult Ltd - Limited company accounts 23.2

REGISTERED NUMBER: 13235262 (England and Wales)

Primis Consult Ltd

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31st March 2023

Page

Company Information

1

Report of the Directors

2

Statement of Income and Retained Earnings

3

Statement of Financial Position

4

Notes to the Financial Statements

6

Directors:

Mr B P Broughton

Mr S J Wynne

Ms H R Rawlinson

Mr J E Burley

Registered office:

20 St Dunstan's Hill

London

EC3R 8HL

Registered number:

13235262 (England and Wales)

Accountants:

Wilson Stevens

Accountants

4th Floor

100 Fenchurch Street

London

EC3M 5JD

The directors present their report with the financial statements of the company for the year ended 31st March 2023.

Directors

Mr B P Broughton has held office during the whole of the period from 1st April 2022 to the date of this report.

Other changes in directors holding office are as follows:

Mr S J Wynne - appointed 1st April 2022

Ms H R Rawlinson - appointed 1st October 2022

Mr J E Burley - appointed 1st October 2022

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

Mr B P Broughton - Director

4th December 2023

Turnover

4,396,885

1,503,043

Cost of sales

1,952,455

563,237

Gross profit

2,444,430

939,806

Administrative expenses

2,415,032

782,742

Operating profit

4

29,398

157,064

Interest payable and similar expenses

478

-

Profit before taxation

28,920

157,064

Tax on profit

16,127

37,873

Profit for the financial year

12,793

119,191

Retained earnings at beginning of year

119,191

-

Retained earnings at end of year

131,984

119,191

Fixed assets

Tangible assets

5

12,037

9,369

Investments

6

7

-

12,044

9,369

Current assets

Debtors

7

526,614

400,997

Cash at bank

90,990

125,791

617,604

526,788

Creditors

Amounts falling due within one year

8

361,326

315,181

Net current assets

256,278

211,607

Total assets less current liabilities

268,322

220,976

Creditors

Amounts falling due after more than one year

9

(33,333

)

-

Provisions for liabilities

(3,009

)

(1,780

)

Net assets

231,980

219,196

Capital and reserves

Called up share capital

1

10

Share premium

99,995

99,995

Retained earnings

131,984

119,191

231,980

219,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 4th December 2023 and were signed on its behalf by:

Mr B P Broughton - Director

1.	Statutory information

Primis Consult Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

4 years straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	Employees and directors

The average number of employees during the year was 37 (2022 - 8 ) .

4.	Operating profit

The operating profit is stated after charging:

Period

1/3/21

Year Ended

to

31/3/23

31/3/22

£

£

Depreciation - owned assets

5,053

3,123

Formation costs

-

170

5.	Tangible fixed assets

Computer

equipment

£

Cost

At 1st April 2022

12,492

Additions

7,721

At 31st March 2023

20,213

Depreciation

At 1st April 2022

3,123

Charge for year

5,053

At 31st March 2023

8,176

Net book value

At 31st March 2023

12,037

At 31st March 2022

9,369

6.	Fixed asset investments

Shares in

group

undertakings

£

Cost

Additions

7

At 31st March 2023

7

Net book value

At 31st March 2023

7

7.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

217,655

305,249

Amounts owed by group undertakings

122,191

-

Other debtors

186,768

95,748

526,614

400,997

8.

Creditors: amounts falling due within one year

2023

2022

£

£

Trade creditors

83,024

93,838

Taxation and social security

111,536

88,623

Other creditors

166,766

132,720

361,326

315,181

9.

Creditors: amounts falling due after more than one year

2023

2022

£

£

Other creditors

33,333

-

10.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the year ended 31st March 2023 and the period ended 31st March 2022:

2023

2022

£

£

Mr B P Broughton

Balance outstanding at start of year

6,060

-

Amounts advanced

3,293

57,109

Amounts repaid

-

(51,049

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,353

6,060