Company Registration No. 11503484 (England and Wales)
Premier Resin Driveways Ltd
Unaudited accounts
for the year ended 31 August 2023
Premier Resin Driveways Ltd
Unaudited accounts
Contents
Premier Resin Driveways Ltd
Company Information
for the year ended 31 August 2023
Directors
Mr T Williamson
Mrs V Williamson
Company Number
11503484 (England and Wales)
Registered Office
21 Woodland Drive
Kirk Ella
East Yorkshire
HU10 7HG
England
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
Premier Resin Driveways Ltd
Statement of financial position
as at 31 August 2023
Tangible assets
5,310
7,430
Cash at bank and in hand
17,641
506
Creditors: amounts falling due within one year
(21,013)
(8,646)
Net current liabilities
(3,372)
(3,015)
Called up share capital
100
100
Profit and loss account
1,838
4,315
Shareholders' funds
1,938
4,415
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by
Mr T Williamson
Director
Company Registration No. 11503484
Premier Resin Driveways Ltd
Notes to the Accounts
for the year ended 31 August 2023
Premier Resin Driveways Ltd is a private company, limited by shares, registered in England and Wales, registration number 11503484. The registered office is 21 Woodland Drive, Kirk Ella, East Yorkshire , HU10 7HG, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% cost
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Premier Resin Driveways Ltd
Notes to the Accounts
for the year ended 31 August 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 September 2022
8,225
7,998
16,223
At 31 August 2023
8,225
7,998
16,223
At 1 September 2022
3,865
4,928
8,793
Charge for the year
1,506
614
2,120
At 31 August 2023
5,371
5,542
10,913
At 31 August 2023
2,854
2,456
5,310
At 31 August 2022
4,360
3,070
7,430
Amounts falling due within one year
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Creditors: amounts falling due within one year
2023
2022
Taxes and social security
1,265
-
Other creditors
5,176
8,157
Loans from directors
118
441
Premier Resin Driveways Ltd
Notes to the Accounts
for the year ended 31 August 2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Average number of employees
During the year the average number of employees was 3 (2022: 2).