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REGISTERED NUMBER: SC290534 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Premier One Stop Shop Limited

Premier One Stop Shop Limited (Registered number: SC290534)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Premier One Stop Shop Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: H Latif





REGISTERED OFFICE: 307 Wellesley Road
Leven
Fife
KY8 3BT





REGISTERED NUMBER: SC290534 (Scotland)





ACCOUNTANTS: akb Chartered Accountants
86 Albert Road
Glasgow
Lanarkshire
G42 8DR

Premier One Stop Shop Limited (Registered number: SC290534)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 74,177 93,092
74,177 93,092

CURRENT ASSETS
Stocks 59,239 64,551
Cash at bank and in hand 200,374 130,569
259,613 195,120
CREDITORS
Amounts falling due within one year 6 119,232 111,608
NET CURRENT ASSETS 140,381 83,512
TOTAL ASSETS LESS CURRENT
LIABILITIES

214,558

176,604

PROVISIONS FOR LIABILITIES 13,895 17,444
NET ASSETS 200,663 159,160

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 200,661 159,158
SHAREHOLDERS' FUNDS 200,663 159,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 One Stop Shop Limited (Registered number: SC290534)

Balance Sheet - continued
31 March 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 director and authorised for issue on 14 August 2023 and were signed by:





H Latif - Director


Premier One Stop Shop Limited (Registered number: SC290534)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Premier One Stop Shop 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

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.
Motor vehicles - 25% on reducing balance

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.

Premier One Stop Shop Limited (Registered number: SC290534)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 50,000
AMORTISATION
At 1 April 2022
and 31 March 2023 50,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 133,463 34,610 168,073
DEPRECIATION
At 1 April 2022 46,285 28,696 74,981
Charge for year 17,436 1,479 18,915
At 31 March 2023 63,721 30,175 93,896
NET BOOK VALUE
At 31 March 2023 69,742 4,435 74,177
At 31 March 2022 87,178 5,914 93,092

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank Loan 67,169 83,507
Trade creditors 2,083 4,267
Tax 19,384 13,725
Social security and other taxes 245 275
VAT 7,254 8,833
Directors' current accounts 22,397 137
Accrued expenses 700 864
119,232 111,608

Premier One Stop Shop Limited (Registered number: SC290534)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H Latif.

Mr Latif and his wife Mrs Latif own 50% each of the shares of the company, and Mr Latif is the sole director of the company.