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REGISTERED NUMBER: SC355936 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

PREMIER LABELS LIMITED

PREMIER LABELS LIMITED (REGISTERED NUMBER: SC355936)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIER LABELS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: G Forward
G Kerr





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC355936 (Scotland)





ACCOUNTANTS: Cornerstone Accountants
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

PREMIER LABELS LIMITED (REGISTERED NUMBER: SC355936)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 42,852 57,482
42,852 57,482

CURRENT ASSETS
Stocks 3,956 3,691
Debtors 6 90,262 87,342
Cash at bank and in hand 162,202 147,318
256,420 238,351
CREDITORS
Amounts falling due within one year 7 114,495 120,696
NET CURRENT ASSETS 141,925 117,655
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,777

175,137

CREDITORS
Amounts falling due after more than one
year

8

-

(5,500

)

PROVISIONS FOR LIABILITIES (10,713 ) (10,922 )
NET ASSETS 174,064 158,715

CAPITAL AND RESERVES
Called up share capital 106 106
Retained earnings 173,958 158,609
SHAREHOLDERS' FUNDS 174,064 158,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

PREMIER LABELS LIMITED (REGISTERED NUMBER: SC355936)

BALANCE SHEET - continued
30 APRIL 2023


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 5 October 2023 and were signed on its behalf by:




G Forward - Director



G Kerr - Director


PREMIER LABELS LIMITED (REGISTERED NUMBER: SC355936)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Premier Labels 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 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 represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on despatch of goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on a reducing balance basis
Fixtures and fittings - 25% on a reducing balance basis
Computer equipment - 33% on a straight line basis

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 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.

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.

PREMIER LABELS LIMITED (REGISTERED NUMBER: SC355936)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 119,120
AMORTISATION
At 1 May 2022
and 30 April 2023 119,120
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2022 293,537 5,417 24,356 323,310
Additions - 1,576 1,190 2,766
Disposals (2,500 ) - - (2,500 )
At 30 April 2023 291,037 6,993 25,546 323,576
DEPRECIATION
At 1 May 2022 240,938 3,266 21,624 265,828
Charge for year 12,681 932 1,908 15,521
Eliminated on disposal (625 ) - - (625 )
At 30 April 2023 252,994 4,198 23,532 280,724
NET BOOK VALUE
At 30 April 2023 38,043 2,795 2,014 42,852
At 30 April 2022 52,599 2,151 2,732 57,482

The net book value of the company's fixed assets includes £26,281 (2022: £35,041) in respect of assets held under finance leases or hire purchase contracts. Depreciation charged on these assets during the year amounted to £8,760 (2022: £11,680).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 85,662 82,742
Other debtors 4,600 4,600
90,262 87,342

PREMIER LABELS LIMITED (REGISTERED NUMBER: SC355936)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 5,500 22,000
Trade creditors 47,756 41,579
Taxation and social security 51,263 45,656
Other creditors 9,976 11,461
114,495 120,696

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) - 5,500

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 5,500 22,000
Between one and five years - 5,500
5,500 27,500

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 35,844
Between one and five years - 74,676
- 110,520

10. RELATED PARTY DISCLOSURES

At 30 April 2023, the company was owed by Premier Labels (Holdings) Ltd £4,600 (2022: £4,600), in respect of loans advanced.

11. ULTIMATE PARENT COMPANY

Premier Labels (Holdings) Ltd is regarded by the directors as being the company's ultimate parent company.