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REGISTERED NUMBER: 08134306 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Basic Premier Limited

Basic Premier Limited (Registered number: 08134306)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Basic Premier Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mrs R Cheema
A Cheema
A Cheema





REGISTERED OFFICE: 3 - 5 College Street
Nottingham
Nottinghamshire
NG1 5AQ





REGISTERED NUMBER: 08134306 (England and Wales)

Basic Premier Limited (Registered number: 08134306)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 245,155 159,192

CURRENT ASSETS
Stocks 40,000 24,025
Debtors 5 631,321 570,305
Cash at bank 440,943 865,028
1,112,264 1,459,358
CREDITORS
Amounts falling due within one year 6 530,787 779,982
NET CURRENT ASSETS 581,477 679,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

826,632

838,568

CREDITORS
Amounts falling due after more than one
year

7

-

(45,789

)

PROVISIONS FOR LIABILITIES (33,642 ) (30,247 )
NET ASSETS 792,990 762,532

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 792,790 762,332
SHAREHOLDERS' FUNDS 792,990 762,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Basic Premier Limited (Registered number: 08134306)

Balance Sheet - continued
31 December 2021


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 August 2022 and were signed on its behalf by:





A Cheema - Director


Basic Premier Limited (Registered number: 08134306)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Basic Premier 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.
Long leasehold - 10% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Basic Premier Limited (Registered number: 08134306)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2020 - 38 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2021 107,621 231,523 24,818
Additions 69,467 25,550 34,167
Disposals - - -
At 31 December 2021 177,088 257,073 58,985
DEPRECIATION
At 1 January 2021 66,293 123,437 24,344
Charge for year 17,709 24,370 2,849
Eliminated on disposal - - -
At 31 December 2021 84,002 147,807 27,193
NET BOOK VALUE
At 31 December 2021 93,086 109,266 31,792
At 31 December 2020 41,328 108,086 474

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2021 40,560 30,022 434,544
Additions - 9,310 138,494
Disposals (22,560 ) - (22,560 )
At 31 December 2021 18,000 39,332 550,478
DEPRECIATION
At 1 January 2021 40,560 20,718 275,352
Charge for year - 7,603 52,531
Eliminated on disposal (22,560 ) - (22,560 )
At 31 December 2021 18,000 28,321 305,323
NET BOOK VALUE
At 31 December 2021 - 11,011 245,155
At 31 December 2020 - 9,304 159,192

Basic Premier Limited (Registered number: 08134306)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 251,857 387,736
Other debtors 352,975 143,451
Directors' current accounts - 26,085
Prepayments and accrued income 26,489 13,033
631,321 570,305

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts - 5,517
Hire purchase contracts 1,306 13,267
Trade creditors 174,499 218,795
Taxation and social security 143,211 313,257
Other creditors 211,771 229,146
530,787 779,982

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans - 44,483
Hire purchase contracts - 1,306
- 45,789

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 4,409

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 1,306 14,573

The hire purchase contract liabilities are secured against fixed assets of the company.

Basic Premier Limited (Registered number: 08134306)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

9. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 A Ordinary £1 100 100
100 B Ordinary £1 100 100
200 200