pinacle - Company Accounts (iXBRL 6.0.16)

PRIME DEVELOPERS LTD

FILLETED FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2017

COMPANY REGISTRATION NUMBER - 9317929

	1.
PRIME DEVELOPERS LTD
COMPANY NUMBER - 9317929
BALANCE SHEET AS AT 30 NOVEMBER 2017

			2017		2016
			----		----

	Notes	£	£	£	£
CURRENT ASSETS
Stocks		158,436		1,507,230
Debtors	4	1,788,491		12,725
Cash at bank and in hand		192,427		80,958
		2,139,354		1,600,913
CURRENT LIABILITIES
CREDITORS - Amounts
falling due within one year	5	1,784,268		1,566,347
NET CURRENT ASSETS			355,086		34,566
TOTAL ASSETS LESS CURRENT LIABILITIES			355,086		34,566
CAPITAL AND RESERVES
Called up share capital	6		2		2
Profit and Loss account			355,084		34,564
SHAREHOLDERS' FUNDS			355,086		34,566

These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies. In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.

For the financial year ended 30 November 2017, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The members have not required the company to obtain an audit.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Approved by the board of directors on21 September 2018
and signed on their behalf by:
M Ajmal
The notes on pages 2 to 3 form an integral part of these accounts.

	2.
PRIME DEVELOPERS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2017
1. COMPANY INFORMATION

Prime Developers Ltd is a Private Company, limited by shares, domiciled in England and Wales, registration number 9317929.

The company's registered office is Unit 2 Brook House, Demmings Road, Cheadle SK8 2PE.

2. ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

This is the first year in which the financial statements have been prepared under FRS102. Details of the transition to FRS 102 are disclosed in note 7.

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

REVENUE RECOGNITION

Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

TANGIBLE FIXED ASSETS AND DEPRECIATION

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:

FINANCIAL INSTRUMENTS

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES

The average number of persons employed by the company (including directors) during the year was 2 (2016 - 2).

	2017		2016
	----		----
	£		£
4. DEBTORS
Due within one year:
Trade debtors	-		142
Other debtors	1,788,491		12,583
	1,788,491		12,725

	3.
PRIME DEVELOPERS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2017

	2017		2016
	----		----
	£		£
5. CREDITORS
Amounts falling due within one year:
Trade creditors	538		47,861
Taxation and social security	64,250		6
Other creditors	1,719,480		1,518,480
	1,784,268		1,566,347

6. CALLED UP SHARE CAPITAL

There was no change in share capital during the year.

Allotted, called up and fully paid
shares of £1 eachOrdinary	2		2

7. IMPACT OF FIRST YEAR ADOPTION OF FRS102

The accounting policies applied under the company's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or the profit or loss.