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REGISTERED NUMBER: 12460333 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Premier Plant and Tool Hire Ltd

Premier Plant and Tool Hire Ltd (Registered number: 12460333)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Premier Plant and Tool Hire Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: N P E Heaton
R Hughes





REGISTERED OFFICE: Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW





BUSINESS ADDRESS: 11 Wilson Road
South Wigston
Leicester
Leicestershire
LE18 4TP





REGISTERED NUMBER: 12460333 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Premier Plant and Tool Hire Ltd (Registered number: 12460333)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,847,836 1,601,908

CURRENT ASSETS
Stocks 25,860 10,000
Debtors 5 964,709 544,959
Cash at bank 155,983 10,361
1,146,552 565,320
CREDITORS
Amounts falling due within one year 6 (1,272,466 ) (768,496 )
NET CURRENT LIABILITIES (125,914 ) (203,176 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,721,922

1,398,732

CREDITORS
Amounts falling due after more than one
year

7

(2,137,135

)

(1,093,341

)

PROVISIONS FOR LIABILITIES (164,149 ) (24,539 )
NET ASSETS 420,638 280,852

CAPITAL AND RESERVES
Called up share capital 100 2
Retained earnings 420,538 280,850
420,638 280,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Plant and Tool Hire Ltd (Registered number: 12460333)

Balance Sheet - continued
28 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2023 and were signed on its behalf by:





R Hughes - Director


Premier Plant and Tool Hire Ltd (Registered number: 12460333)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Premier Plant and Tool Hire Ltd is a private company, limited by shares , registered in England and Wales. 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.

The financial statements have been prepared on a going concern basis, assuming the company will
continue to trade. This assumption depends on the ability of the directors to maintain the necessary
financial support.

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

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 - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell on a first in first out basis 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 Statement of Income and Retained Earnings, 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 Plant and Tool Hire Ltd (Registered number: 12460333)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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 shorter.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 1,866,399 43,880 70,547 2,837 1,983,663
Additions 1,536,116 7,173 169,950 - 1,713,239
Disposals (58,520 ) - (4,010 ) - (62,530 )
At 28 February 2023 3,343,995 51,053 236,487 2,837 3,634,372
DEPRECIATION
At 1 March 2022 356,797 9,247 15,087 624 381,755
Charge for year 390,213 9,126 21,353 936 421,628
Eliminated on disposal (16,277 ) - (570 ) - (16,847 )
At 28 February 2023 730,733 18,373 35,870 1,560 786,536
NET BOOK VALUE
At 28 February 2023 2,613,262 32,680 200,617 1,277 2,847,836
At 28 February 2022 1,509,602 34,633 55,460 2,213 1,601,908

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 564,487 536,045
Other debtors 400,222 8,914
964,709 544,959

Other debtors includes prepayments and accrued income of £10,952 (2022: £8,914).

Premier Plant and Tool Hire Ltd (Registered number: 12460333)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Hire purchase contracts 671,445 316,343
Trade creditors 440,780 322,817
Taxation and social security 5,536 33,802
Other creditors 154,705 95,534
1,272,466 768,496

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Hire purchase contracts 1,929,253 981,849
Other creditors 207,882 111,492
2,137,135 1,093,341

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Hire purchase contracts 2,600,698 1,298,192

Hire purchase creditors are secured against the individual assets being so acquired.