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REGISTERED NUMBER: 06850491 (England and Wales)















PREMIER ACCESS SOLUTIONS LTD

Unaudited Financial Statements for the Year Ended 31 August 2023






PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIER ACCESS SOLUTIONS LTD

Company Information
for the Year Ended 31 August 2023







DIRECTOR: A M Broadhurst





REGISTERED OFFICE: 4/5 Middlemore Road
Smethwick
Birmingham
West Midlands
B21 0BZ





REGISTERED NUMBER: 06850491 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,688,623 2,311,353
Investment property 5 825,446 825,446
3,514,069 3,136,799

CURRENT ASSETS
Stocks 1,367,688 1,458,924
Debtors 6 3,951,335 4,891,996
Investments 7 475,000 -
Cash at bank - 1,359
5,794,023 6,352,279
CREDITORS
Amounts falling due within one year 8 5,104,719 6,137,877
NET CURRENT ASSETS 689,304 214,402
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,203,373

3,351,201

CREDITORS
Amounts falling due after more than one
year

9

(614,148

)

(532,140

)

PROVISIONS FOR LIABILITIES (248,773 ) (149,539 )
NET ASSETS 3,340,452 2,669,522

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 3,340,442 2,669,512
SHAREHOLDERS' FUNDS 3,340,452 2,669,522

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

Balance Sheet - continued
31 August 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 26 October 2023 and were signed by:





A M Broadhurst - Director


PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

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

1. STATUTORY INFORMATION

Premier Access Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Short leasehold - 20% on cost
Plant and machinery - at various rates on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

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

2. ACCOUNTING POLICIES - continued
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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2022 - 48 ) .

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 September 2022 1,055,386 300,602 2,947,546
Additions 192,799 - 471,431
At 31 August 2023 1,248,185 300,602 3,418,977
DEPRECIATION
At 1 September 2022 - 224,861 1,813,722
Charge for year - 19,107 257,102
At 31 August 2023 - 243,968 2,070,824
NET BOOK VALUE
At 31 August 2023 1,248,185 56,634 1,348,153
At 31 August 2022 1,055,386 75,741 1,133,824

PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 September 2022 103,676 60,401 4,467,611
Additions 2,654 - 666,884
At 31 August 2023 106,330 60,401 5,134,495
DEPRECIATION
At 1 September 2022 76,233 41,442 2,156,258
Charge for year 8,665 4,740 289,614
At 31 August 2023 84,898 46,182 2,445,872
NET BOOK VALUE
At 31 August 2023 21,432 14,219 2,688,623
At 31 August 2022 27,443 18,959 2,311,353

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 825,446
NET BOOK VALUE
At 31 August 2023 825,446
At 31 August 2022 825,446

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,630,090 3,723,689
Other debtors 1,283,688 756,475
Deposit on plant & machinery - 335,000
Prepayments 37,557 76,832
3,951,335 4,891,996

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Other 475,000 -

PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 21,433 16,381
Hire purchase contracts 167,000 -
Trade creditors 2,584,509 2,915,079
Social security and other taxes 206,478 487,588
Other creditors 1,113,733 1,292,940
Invoice finance 941,221 1,364,310
Accrued expenses 70,345 61,579
5,104,719 6,137,877

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 525,232 532,140
Hire purchase contracts 88,916 -
614,148 532,140

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 472,232 457,796

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 10,621 -
Bank loans 10,812 16,381
21,433 16,381

Amounts falling due between one and two years:
Bank loans - 1-2 years 11,710 17,219

Amounts falling due between two and five years:
Bank loans - 2-5 years 41,290 57,125

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 472,232 457,796

PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 10,621 -
Bank loans 536,044 548,521
Hire purchase contracts 255,916 -
Invoice finance 941,221 1,364,310
1,743,802 1,912,831

The hire purchase liability is secured on the asset to which the borrowing relates.

The bank loan is secured against the property to which it relates. The bank overdraft is secured by a debenture over the company's assets.

The invoice finance liability is secured against the trade debts of the company.

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
A M Broadhurst
Balance outstanding at start of year - 336,327
Amounts repaid - (336,327 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -