Prime Contractors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07161479 (England and Wales)

Financial Statements for the Year Ended 31 March 2018

for

Prime Contractors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Divani

REGISTERED OFFICE:

Suite 109 Raydean House

15 Western Parade

Barnet

Hertfordshire

EN5 1AH

REGISTERED NUMBER:

07161479 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,405

1,713

CURRENT ASSETS

Stocks

6,575

-

Debtors

5

28,606

48,473

Cash at bank

14

2,757

35,195

51,230

CREDITORS

Amounts falling due within one year

6

16,539

23,623

NET CURRENT ASSETS

18,656

27,607

TOTAL ASSETS LESS CURRENT LIABILITIES

20,061

29,320

CREDITORS

Amounts falling due after more than one year

7

20,000

20,000

NET ASSETS

61

9,320

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

51

9,310

SHAREHOLDERS' FUNDS

61

9,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 18 December 2018 and were signed by:

M Divani - Director

1.	STATUTORY INFORMATION

Prime Contractors 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.

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.

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 each asset over its estimated useful life.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

and 31 March 2018

3,888

DEPRECIATION

At 1 April 2017

2,175

Charge for year

308

At 31 March 2018

2,483

NET BOOK VALUE

At 31 March 2018

1,405

At 31 March 2017

1,713

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

17,304

29,560

Other debtors

11,302

18,913

28,606

48,473

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

15

-

Trade creditors

75

118

Taxation and social security

2,284

19,249

Other creditors

14,165

4,256

16,539

23,623

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Other creditors

20,000

20,000