Primary Building Solutions Ltd - Accounts to registrar - small 17.2
Primary Building Solutions Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| FOR |
| PRIMARY BUILDING SOLUTIONS LTD |
| PRIMARY BUILDING SOLUTIONS LTD (REGISTERED NUMBER: 07527486) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PRIMARY BUILDING SOLUTIONS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| PRIMARY BUILDING SOLUTIONS LTD (REGISTERED NUMBER: 07527486) |
| BALANCE SHEET |
| 31 MARCH 2017 |
| 31/3/17 | 31/3/16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| PRIMARY BUILDING SOLUTIONS LTD (REGISTERED NUMBER: 07527486) |
| BALANCE SHEET - continued |
| 31 MARCH 2017 |
| 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 its behalf by: |
| PRIMARY BUILDING SOLUTIONS LTD (REGISTERED NUMBER: 07527486) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| Primary Building Solutions Ltd is a |
| 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 are the first financial statements the Company has prepared in accordance with Financial |
| Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of |
| Ireland'' (FRS 102) as applied to smaller entities by the adoption of Section 1A of FRS 102. The |
| financial statements for the year ended 31 March 2016 were prepared in accordance with Financial |
| Reporting Standard for Smaller Entities (effective January 2015) (FRSSE). |
| Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and |
| accounting policy choices differ from the FRSSE. Consequently the directors have amended certain |
| accounting policies to comply with FRS 102. The directors have also taken advantage of certain |
| exemptions from the requirements of FRS 102 permitted by FRS 102 Chapter 35 ''Transition to FRS''. |
| There are no changes in the prior period on transition to FRS 102 as the directors consider them to be |
| immaterial to financial statements. |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Office Equipment | - |
| Motor vehicles | - |
| Computer equipment | - |
| PRIMARY BUILDING SOLUTIONS LTD (REGISTERED NUMBER: 07527486) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| FINANCIAL ASSETS |
| Trade, group and other debtors |
| Trade, group and other debtors (including accrued income) which are receivable within one year and |
| which do not constitute a financing transaction are initially measured at the transaction price and |
| subsequently measured at amortised cost, being the transaction price less any amounts settled and |
| any impairment losses. |
| A provision for impairment of trade debtors is established where there is objective evidence that the |
| amounts due will not be collected according to the original terms of the contract. Impairment losses |
| are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present |
| value of the future cash flows discounted using the original effective interest rate. Subsequent |
| reversals of an impairment loss that objectively relate to an event occurring after the impairment loss |
| was recognised, are recognised immediately in profit or loss. |
| FINANCIAL LIABILITIES |
| Trade, group and other creditors |
| Trade, group and other creditors (including accruals) payable within one year that do not constitute a |
| financing transaction are initially measured at the transaction price and subsequently measured at |
| amortised cost, being transaction price less any amounts settled. |
| Derecognition of financial assets and liabilities |
| A financial asset is only derecognised when the contractual rights to cash flows expire or are settled, or |
| substantially all the risks and rewards of ownership are transferred to another party, or if some |
| significant risks and rewards of ownership are retained but control of the asset has transferred to |
| another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability |
| (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled |
| or expires. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
| 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 balance sheet date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PRIMARY BUILDING SOLUTIONS LTD (REGISTERED NUMBER: 07527486) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Office | Motor | Computer |
| machinery | Equipment | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | 83,333 | 74,330 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Trade creditors |
| Taxation |
| PAYE Payable | 2,119 | - |
| VAT | 2,263 | 18,006 |
| Other creditors |
| Directors' current accounts | 6,020 | 670 |
| Accrued expenses |
| PRIMARY BUILDING SOLUTIONS LTD (REGISTERED NUMBER: 07527486) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 7. | FINANCIAL INSTRUMENTS |
| FINANCIAL ASSETS |
| Trade, group and other debtors |
| Trade, group and other debtors (including accrued income) which are receivable within one year and |
| which do not constitute a financing transaction are initially measured at the transaction price and |
| subsequently measured at amortised cost, being the transaction price less any amounts settled and |
| any impairment losses. |
| A provision for impairment of trade debtors is established where there is objective evidence that the |
| amounts due will not be collected according to the original terms of the contract. Impairment losses |
| are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present |
| value of the future cash flows discounted using the original effective interest rate. Subsequent |
| reversals of an impairment loss that objectively relate to an event occurring after the impairment loss |
| was recognised, are recognised immediately in profit or loss. |
| FINANCIAL LIABILITIES |
| Trade, group and other creditors |
| Trade, group and other creditors (including accruals) payable within one year that do not constitute a |
| financing transaction are initially measured at the transaction price and subsequently measured at |
| amortised cost, being transaction price less any amounts settled. |
| Derecognition of financial assets and liabilities |
| A financial asset is only derecognised when the contractual rights to cash flows expire or are settled, or |
| substantially all the risks and rewards of ownership are transferred to another party, or if some |
| significant risks and rewards of ownership are retained but control of the asset has transferred to |
| another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability |
| (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled |
| or expires. |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2017 and |
| 31 March 2016: |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| PRIMARY BUILDING SOLUTIONS LTD (REGISTERED NUMBER: 07527486) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Outstanding balances are repayable on demand and no interest is charged. |
| 9. | RELATED PARTY DISCLOSURES |
| Mr G Roberts |
| During the year Mr G Roberts received dividends of £30,500. |
| Mr L Bugliarello |
| During the year Mr L Bugliarello received dividends of £30,500. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |