Primary Supplies Limited - Accounts to registrar (filleted) - small 23.1.2

Primary Supplies Limited - Accounts to registrar (filleted) - small 23.1.2


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REGISTERED NUMBER: 12922315 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 October 2022

for

Primary Supplies Limited

Primary Supplies Limited (Registered number: 12922315)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Primary Supplies Limited

Company Information
for the Year Ended 31 October 2022







DIRECTORS: M F Haworth
Mrs J Haworth





REGISTERED OFFICE: 40 The Rydings
Langho
Blackburn
Lancashire
BB6 8BQ





REGISTERED NUMBER: 12922315 (England and Wales)





ACCOUNTANTS: Egan Roberts Limited
Accountants
Suite 46
Manor Court
Salesbury Hall Road
Ribchester
Lancashire
PR3 3XR

Primary Supplies Limited (Registered number: 12922315)

Balance Sheet
31 October 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,073 1,012

CURRENT ASSETS
Stocks 2,882 2,304
Debtors 5 5,450 2,928
Cash at bank 4,886 5,740
13,218 10,972
CREDITORS
Amounts falling due within one year 6 16,483 11,918
NET CURRENT LIABILITIES (3,265 ) (946 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,808

66

CREDITORS
Amounts falling due after more than one
year

7

10,865

-
NET ASSETS 1,943 66

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 9 1,933 56
SHAREHOLDERS' FUNDS 1,943 66

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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.

Primary Supplies Limited (Registered number: 12922315)

Balance Sheet - continued
31 October 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 13 June 2023 and were signed on its behalf by:





M F Haworth - Director


Primary Supplies Limited (Registered number: 12922315)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

Primary Supplies 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 (2021 - 2 ) .

Primary Supplies Limited (Registered number: 12922315)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2021 580 - 724 1,304
Additions - 15,995 316 16,311
At 31 October 2022 580 15,995 1,040 17,615
DEPRECIATION
At 1 November 2021 116 - 176 292
Charge for year 93 1,000 157 1,250
At 31 October 2022 209 1,000 333 1,542
NET BOOK VALUE
At 31 October 2022 371 14,995 707 16,073
At 31 October 2021 464 - 548 1,012

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 3,725 2,927
Other debtors - 1
VAT 1,725 -
5,450 2,928

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 3,662 420
Hire purchase contracts 4,734 -
Trade creditors 3,287 4,113
Tax 2,676 1,571
VAT - 2,101
Directors' current accounts 1,279 2,958
Accrued expenses 845 755
16,483 11,918

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Hire purchase contracts 10,865 -

Primary Supplies Limited (Registered number: 12922315)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,000 Ordinary 0.01 10 10

9. RESERVES
Retained
earnings
£   

At 1 November 2021 56
Profit for the year 25,877
Dividends (24,000 )
At 31 October 2022 1,933