Primate Incorporated Limited - Accounts to registrar (filleted) - small 18.2

Primate Incorporated Limited - Accounts to registrar (filleted) - small 18.2


IRIS Accounts Productionv18.3.1.65SC390484Board of DirectorsBoard of Directors1.4.1731.3.1831.3.18falsetruefalsefalsetruefalseOrdinary1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3904842017-03-31SC3904842018-03-31SC3904842017-04-012018-03-31SC3904842016-03-31SC3904842016-04-012017-03-31SC3904842017-03-31SC390484ns15:Scotland2017-04-012018-03-31SC390484ns14:PoundSterling2017-04-012018-03-31SC390484ns10:Director12017-04-012018-03-31SC390484ns10:Director22017-04-012018-03-31SC390484ns10:PrivateLimitedCompanyLtd2017-04-012018-03-31SC390484ns10:SmallEntities2017-04-012018-03-31SC390484ns10:AuditExempt-NoAccountantsReport2017-04-012018-03-31SC390484ns10:SmallCompaniesRegimeForDirectorsReport2017-04-012018-03-31SC390484ns10:SmallCompaniesRegimeForAccounts2017-04-012018-03-31SC390484ns10:FullAccounts2017-04-012018-03-31SC390484ns10:OrdinaryShareClass12017-04-012018-03-31SC390484ns10:RegisteredOffice2017-04-012018-03-31SC390484ns5:CurrentFinancialInstruments2018-03-31SC390484ns5:CurrentFinancialInstruments2017-03-31SC390484ns5:ShareCapital2018-03-31SC390484ns5:ShareCapital2017-03-31SC390484ns5:RetainedEarningsAccumulatedLosses2018-03-31SC390484ns5:RetainedEarningsAccumulatedLosses2017-03-31SC390484ns5:LeaseholdImprovements2017-03-31SC390484ns5:FurnitureFittings2017-03-31SC390484ns5:ComputerEquipment2017-03-31SC390484ns5:LeaseholdImprovements2017-04-012018-03-31SC390484ns5:FurnitureFittings2017-04-012018-03-31SC390484ns5:ComputerEquipment2017-04-012018-03-31SC390484ns5:LeaseholdImprovements2018-03-31SC390484ns5:FurnitureFittings2018-03-31SC390484ns5:ComputerEquipment2018-03-31SC390484ns5:LeaseholdImprovements2017-03-31SC390484ns5:FurnitureFittings2017-03-31SC390484ns5:ComputerEquipment2017-03-31SC390484ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-03-31SC390484ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-03-31SC390484ns5:DeferredTaxation2017-03-31SC390484ns5:DeferredTaxation2017-04-012018-03-31SC390484ns5:DeferredTaxation2018-03-31SC390484ns10:OrdinaryShareClass12018-03-31


REGISTERED NUMBER: SC390484(Scotland)













Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Primate Incorporated Limited

Primate Incorporated Limited (Registered number: SC390484)






Contents of the Financial Statements
for the Year Ended 31 March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Primate Incorporated Limited

Company Information
for the Year Ended 31 March 2018







DIRECTORS: B A Oleszczyk
G F McLachlan





REGISTERED OFFICE: 6 Logie Mill
Beaverbank Business Park
Edinburgh
Lothian
EH7 4HG





REGISTERED NUMBER: SC390484(Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Primate Incorporated Limited (Registered number: SC390484)

Balance Sheet
31 March 2018

31.3.18 31.3.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,007 6,854

CURRENT ASSETS
Debtors 5 46,548 69,809
Cash at bank 55,288 74,240
101,836 144,049
CREDITORS
Amounts falling due within one year 6 98,947 119,117
NET CURRENT ASSETS 2,889 24,932
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,896

31,786

PROVISIONS FOR LIABILITIES 7 851 1,371
NET ASSETS 7,045 30,415

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 7,042 30,412
SHAREHOLDERS' FUNDS 7,045 30,415

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 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.

Primate Incorporated Limited (Registered number: SC390484)

Balance Sheet - continued
31 March 2018


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 30 November 2018and were signed on its behalf
by:




G F McLachlan- Director



B A Oleszczyk- Director


Primate Incorporated Limited (Registered number: SC390484)

Notes to the Financial Statements
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

Primate Incorporated Limited is a private company, limited by shares, registered in Scotland. 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are
considered to have been transferred to the buyer. Turnover from the supply of services represents the value of
services provided under contracts to the extent that there is a right to consideration and is recorded at the fair
value of the consideration received or receivable. Where a contract has only been partially completed at the
balance sheet date turnover represents the fair value of the service provided to date based on the stage of
completion of the contract activity at the balance sheet date.

Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is
provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of
each asset on a straight-line basis over its expected useful life, as follows:


Investment property-33% on cost
Fixtures and fittings-33% on cost
Computer equipment-33% on cost


Residual value represents the estimated amount which would currently be obtained from disposal of an asset,
after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at
the end of its useful life.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured
at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Profit and Loss,
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.


Primate Incorporated Limited (Registered number: SC390484)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

2. ACCOUNTING POLICIES - continued
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.

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.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a
small company.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past
event, it is probable that the company will be required to settle that obligation and a reliable estimate can be
made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present
obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2017 1,600 5,110 23,559 30,269
Additions - 316 2,566 2,882
At 31 March 2018 1,600 5,426 26,125 33,151
DEPRECIATION
At 1 April 2017 528 4,305 18,582 23,415
Charge for year 528 505 3,696 4,729
At 31 March 2018 1,056 4,810 22,278 28,144
NET BOOK VALUE
At 31 March 2018 544 616 3,847 5,007
At 31 March 2017 1,072 805 4,977 6,854

Primate Incorporated Limited (Registered number: SC390484)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 34,787 57,756
Amounts recoverable on contract 10,000 10,000
Other debtors 1,761 2,053
46,548 69,809

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade creditors 9,152 5,095
Taxation and social security 26,448 28,921
Other creditors 63,347 85,101
98,947 119,117

7. PROVISIONS FOR LIABILITIES
31.3.18 31.3.17
£    £   
Deferred tax 851 1,371

Deferred
tax
£   
Balance at 1 April 2017 1,371
Provided during year (520 )
Balance at 31 March 2018 851

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.18 31.3.17
value: £    £   
3 Ordinary £1 3 3

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company owed the directors £29,978 as at 31 March 2018 (2017: £45,205).

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £73,020 (2017 - £95,130) were paid to the directors .

Primate Incorporated Limited (Registered number: SC390484)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

10. RELATED PARTY DISCLOSURES - continued

Transactions with related parties during the year and balances outstanding at the year end were as follows:







Transaction
type


Transactions in the year
ended
Balance
receivable/
(payable) to
related party at



Balance
receivable/
(payable) to
related party at
31.3.18 31.3.18 31.3.17
£ £ £


Sprintr Limited
Accountancy
Fees

575 (2017: nil)

575


nil

Subcontractor
Costs

650 (2017: nil)

650


nil

A director of Primate Incorporated Limited is a director of Sprintr Limited.

11. ULTIMATE CONTROLLING PARTY

There is no overall controlling interest.