Primera Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03708136 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018

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

123,721

Tangible assets

5

99,918

CURRENT ASSETS

268,302

Stocks

235,565

545,737

Debtors

6

350,607

330,153

Cash at bank and in hand

668,469

1,144,192

1,254,641

CREDITORS

279,238

Amounts falling due within one year

7

179,980

864,954

NET CURRENT ASSETS

1,074,661

988,675

TOTAL ASSETS LESS CURRENT LIABILITIES

1,174,579

21,577

PROVISIONS FOR LIABILITIES

8

18,540

967,098

NET ASSETS

1,156,039

CAPITAL AND RESERVES

1,222

Called up share capital

9

1,222

965,876

Retained earnings

1,154,817

967,098

SHAREHOLDERS' FUNDS

1,156,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 7 November 2018 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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.

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.

When stocks are sold, the carrying amount of these stocks is recognised as an expense in the period in which the

related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of

stocks are recognised as an expenses in the period in which the write-down or loss occurs. The amount of any

reversal of any write-down of stocks is recognised as a reduction on the amount of stocks recognised as an

expense in the period in which the reversal occurs.

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.

Research and development

Expenditure on research and development is charged to the profit & loss account in the year in which it is

incurred, with the exception of expenditure on the development of new products where the outcome of these is

assessed as being reasonably certain as regards visibility and technical feasibility. In such cases expenditure will

be capitalised and amortised over a period of 10 years,commencing in the year sales of the product are first

made.

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.

Cash & cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with

banks.

Dividends

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 10 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

Totals

machinery

fittings

vehicles

equipment

£

£

£

£

£

COST

At 1 July 2017

296,687

162,034

70,021

23,505

41,127

Additions

2,399

-

-

-

2,399

At 30 June 2018

299,086

162,034

70,021

23,505

43,526

DEPRECIATION

At 1 July 2017

172,966

72,133

55,831

6,599

38,403

Charge for year

26,202

16,204

3,659

4,226

2,113

At 30 June 2018

199,168

88,337

59,490

10,825

40,516

NET BOOK VALUE

At 30 June 2018

99,918

73,697

10,531

12,680

3,010

At 30 June 2017

123,721

89,901

14,190

16,906

2,724

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

330,352

352,059

Amounts owed by group undertakings

401

186,507

Prepayments and accrued income

19,854

7,171

350,607

545,737

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

36,788

107,888

Corporation Tax

65,090

130,918

Social security and other taxes

6,196

5,987

VAT

50,914

18,850

Other creditors

3,538

972

Accrued expenses

17,454

14,623

179,980

279,238

8.	PROVISIONS FOR LIABILITIES

30.6.18

30.6.17

£

£

Deferred tax

18,540

21,577

Deferred

tax

£

Balance at 1 July 2017

21,577

Provided during year

(3,037

)

Balance at 30 June 2018

18,540

This is in respect of accelerated capital allowances.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.18

30.6.17

value:

£

£

1,222

Ordinary

£1

1,222

1,222

10.	ULTIMATE CONTROLLING PARTY