Primera Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03708136 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2016 TO 30 JUNE 2017

FOR

PRIMERA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Falkingham

P Ross

M Izod

J McDougall

REGISTERED OFFICE:

Unit 8

Bankfield House

Bristol Avenue

Blackpool

Lancashire

FY2 OJF

REGISTERED NUMBER:

03708136 (England and Wales)

ACCOUNTANTS:

John M Taylor & Co

Chartered Accountants

9 Glasgow Road

PAISLEY

Renfrewshire

PA1 3QS

FIXED ASSETS

Tangible assets

4

123,721

152,830

CURRENT ASSETS

Stocks

268,302

308,825

Debtors

5

545,737

233,166

Cash at bank and in hand

330,153

477,077

1,144,192

1,019,068

CREDITORS

Amounts falling due within one year

6

279,238

240,409

NET CURRENT ASSETS

864,954

778,659

TOTAL ASSETS LESS CURRENT LIABILITIES

988,675

931,489

PROVISIONS FOR LIABILITIES

7

21,577

25,976

NET ASSETS

967,098

905,513

CAPITAL AND RESERVES

Called up share capital

8

1,222

1,222

Retained earnings

9

965,876

904,291

SHAREHOLDERS' FUNDS

967,098

905,513

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2017 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 August 2017 and were signed on its behalf by:

M Izod - Director

P Ross - Director

1.	STATUTORY INFORMATION

Primera Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

These financial statements for the period ended 30 June 2017 are the first financial statements that comply with

FRS 102 Section 1A 'Small Entities. The date of transition to FRS 102 Section 1A is 1 April 2015.

The transition to FRS 102 Section 1A 'Small Entities' has not resulted in any changes in accounting policies or

impact opening equity or profit.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption

The company has taken advantage of exemption, under the terms of Section 1A 'Small Entities' of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to

disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and assumptions

that affect the application of accounting policies and reported amounts of assets, liabilities, income and

expenses.The estimates and underlying assumptions are based on historical experience and other factors that are

considered to be relevant. Actual results may differ from these estimates.

The estimates and assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised in the

period in which the estimate is revised and in any future periods affected.

The directors are of the opinion there are no matters of significant judgement and estimation which are material

to the financial statements.

Turnover

Turnover represents the total invoice value, less credit notes, excluding value added tax of sales made during the

period.

Revenue is recognised when goods or services are received by the customer and the risks and rewards of

ownership have been passed to them. Revenue is measured at the fair value of consideration received or

receivable and represents amounts receivable for goods and services provided in the normal course of business,

net of discounts and value added tax.

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.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and

accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the

recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively

enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the

financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying

amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is

no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the

liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or

substantively enacted by the end of the reporting period.

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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Financial instruments

Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when

the company becomes a party to the contractual provisions of the instrument and are classified in accordance

with their underlying economic reality.

Dividends paid

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised

when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which

the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in

equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 10 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

162,034

69,827

43,480

40,002

315,343

Additions

-

194

23,505

1,125

24,824

Disposals

-

-

(43,480

)

-

(43,480

)

At 30 June 2017

162,034

70,021

23,505

41,127

296,687

DEPRECIATION

At 1 April 2016

51,890

51,185

28,346

31,092

162,513

Charge for period

20,243

4,646

9,049

7,311

41,249

Eliminated on disposal

-

-

(30,796

)

-

(30,796

)

At 30 June 2017

72,133

55,831

6,599

38,403

172,966

NET BOOK VALUE

At 30 June 2017

89,901

14,190

16,906

2,724

123,721

At 31 March 2016

110,144

18,642

15,134

8,910

152,830

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

31.3.16

£

£

Trade debtors

352,059

213,577

Amounts owed by group undertakings

186,507

2

Prepayments and accrued income

7,171

19,587

545,737

233,166

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

31.3.16

£

£

Trade creditors

107,889

20,049

Corporation Tax

130,918

117,809

Social security and other taxes

5,986

6,860

VAT

18,850

54,466

Other creditors

972

1,274

Accrued expenses

14,623

39,951

279,238

240,409

7.	PROVISIONS FOR LIABILITIES

30.6.17

31.3.16

£

£

Deferred tax

21,577

25,976

Deferred tax

£

Balance at 1 April 2016

25,976

Provided during period

(4,399

)

Balance at 30 June 2017

21,577

This is in respect of accelerated capital allowances.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.17

31.3.16

value:

£

£

1,222

Ordinary

£1

1,222

1,222

9.

RESERVES

Retained

earnings

£

At 1 April 2016

904,291

Profit for the period

564,285

Dividends

(502,700

)

At 30 June 2017

965,876

10.	ULTIMATE CONTROLLING PARTY

11.	FIRST YEAR ADOPTION

These are the first statements that comply with FRS 102 Section 1A. The company transitioned to FRS 102

Section 1A on 1 April 2015.

There are no adjustments arising on transition.