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REGISTERED NUMBER: 02597062















Unaudited Financial Statements for the Year Ended 30 April 2022

for

Premson Limited

Premson Limited (Registered number: 02597062)






Contents of the Financial Statements
for the Year Ended 30 April 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Premson Limited

Company Information
for the Year Ended 30 April 2022







DIRECTORS: L K Patel
N K Patel
Mrs S L Patel
Mrs M N Patel





SECRETARY: L K Patel





REGISTERED OFFICE: 30 Alexander Avenue
Willesden
London
NW10 3QS





REGISTERED NUMBER: 02597062





ACCOUNTANTS: Kallis LLP
Chartered Certified Accountant
22 Westward Way
Harrow
Middlesex
HA3 0SE

Premson Limited (Registered number: 02597062)

Balance Sheet
30 April 2022

30.4.22 30.4.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 62,068 115,970
62,068 115,970

CURRENT ASSETS
Stocks 76,012 73,766
Debtors 6 189,042 177,879
Cash at bank and in hand 251,855 235,321
516,909 486,966
CREDITORS
Amounts falling due within one year 7 353,011 303,011
NET CURRENT ASSETS 163,898 183,955
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,966

299,925

CREDITORS
Amounts falling due after more than one
year

8

32,500

81,196
NET ASSETS 193,466 218,729

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 193,266 218,529
SHAREHOLDERS' FUNDS 193,466 218,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Premson Limited (Registered number: 02597062)

Balance Sheet - continued
30 April 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 25 August 2022 and were signed on its behalf by:





L K Patel - Director


Premson Limited (Registered number: 02597062)

Notes to the Financial Statements
for the Year Ended 30 April 2022

1. STATUTORY INFORMATION

Premson Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business..
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised 10% on a straight line basis over its useful life.

Tangible fixed assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluationless any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated life

Leasehold improvement - 5% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the 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.

Premson Limited (Registered number: 02597062)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2021 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2021
and 30 April 2022 255,000
AMORTISATION
At 1 May 2021
and 30 April 2022 255,000
NET BOOK VALUE
At 30 April 2022 -
At 30 April 2021 -

Premson Limited (Registered number: 02597062)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Motor
improvement fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2021 60,862 136,369 120,530 317,761
Additions - 1,357 - 1,357
Disposals - - (111,480 ) (111,480 )
At 30 April 2022 60,862 137,726 9,050 207,638
DEPRECIATION
At 1 May 2021 30,909 104,170 66,712 201,791
Charge for year 1,498 5,033 1,697 8,228
Eliminated on disposal - - (64,449 ) (64,449 )
At 30 April 2022 32,407 109,203 3,960 145,570
NET BOOK VALUE
At 30 April 2022 28,455 28,523 5,090 62,068
At 30 April 2021 29,953 32,199 53,818 115,970

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2021 111,480
Disposals (111,480 )
At 30 April 2022 -
DEPRECIATION
At 1 May 2021 64,449
Eliminated on disposal (64,449 )
At 30 April 2022 -
NET BOOK VALUE
At 30 April 2022 -
At 30 April 2021 47,031

Premson Limited (Registered number: 02597062)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.22 30.4.21
£    £   
Trade debtors 143,761 129,179
Directors' current accounts - 7,378
VAT 38,407 34,379
Prepayments 6,874 6,943
189,042 177,879

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.22 30.4.21
£    £   
Bank loans and overdrafts 10,077 7,500
Hire purchase contracts - 15,976
Trade creditors 290,716 214,030
Tax 41,677 52,516
Social security and other taxes 3,438 6,650
Directors' current accounts 1,000 -
Accrued expenses 6,103 6,339
353,011 303,011

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.22 30.4.21
£    £   
Bank loans 10,000 10,000
Bank loans - 2-5 years 22,500 32,500
Hire purchase contracts - 38,696
32,500 81,196

9. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 30.4.22 30.4.21
value: £    £   
100 Ordinary shares £1 100 100
100 Ordinary shares "B" £1 100 100
200 200