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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
Page
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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
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Premier Resin Driveways Ltd Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,310 
7,430 
Current assets
Debtors
- 
5,125 
Cash at bank and in hand
17,641 
506 
17,641 
5,631 
Creditors: amounts falling due within one year
(21,013)
(8,646)
Net current liabilities
(3,372)
(3,015)
Net assets
1,938 
4,415 
Capital and reserves
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
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Premier Resin Driveways Ltd Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
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.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Motor vehicles
20% cost
Turnover
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
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 taxation
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.
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Premier Resin Driveways Ltd Notes to the Accounts for the year ended 31 August 2023
Leased assets
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.
Pension costs
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.
4
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 
Depreciation
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 
Net book value
At 31 August 2023
2,854 
2,456 
5,310 
At 31 August 2022
4,360 
3,070 
7,430 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
37 
Other debtors
- 
5,088 
- 
5,125 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,272 
- 
Trade creditors
11,182 
48 
Taxes and social security
1,265 
- 
Other creditors
5,176 
8,157 
Loans from directors
118 
441 
21,013 
8,646 
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Premier Resin Driveways Ltd Notes to the Accounts for the year ended 31 August 2023
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 3 (2022: 2).
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