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REGISTERED NUMBER: 07359028 (England and Wales)















Audited Financial Statements for the Year Ended 30 November 2022

for

Premier Communications Ltd

Premier Communications Ltd (Registered number: 07359028)






Contents of the Financial Statements
for the Year Ended 30 November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Premier Communications Ltd

Company Information
for the Year Ended 30 November 2022







DIRECTORS: M Family
N Missaghi



REGISTERED OFFICE: 6 Sheep Street
Skipton
North Yorkshire
BD23 1JH



REGISTERED NUMBER: 07359028 (England and Wales)



SENIOR STATUTORY AUDITOR: Andrew Wilkinson FCA



AUDITORS: Malcolm Jones & Co Limited
Statutory Auditors
Accountants and Business Advisers
West Hill House
Allerton Hill
Chapel Allerton
Leeds
West Yorkshire
LS7 3QB

Premier Communications Ltd (Registered number: 07359028)

Balance Sheet
30 November 2022

30.11.22 30.11.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 49,798 23,697
Tangible assets 5 73,850 68,318
123,648 92,015

CURRENT ASSETS
Stocks 173,684 198,827
Debtors 6 502,882 447,667
Cash at bank and in hand 884,044 988,376
1,560,610 1,634,870
CREDITORS
Amounts falling due within one year 7 1,004,542 1,104,445
NET CURRENT ASSETS 556,068 530,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

679,716

622,440

PROVISIONS FOR LIABILITIES 13,859 8,471
NET ASSETS 665,857 613,969

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 665,856 613,968
SHAREHOLDERS' FUNDS 665,857 613,969

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 7 November 2023 and were signed on its behalf by:





M Family - Director


Premier Communications Ltd (Registered number: 07359028)

Notes to the Financial Statements
for the Year Ended 30 November 2022

1. STATUTORY INFORMATION

Premier Communications 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Turnover includes revenue earned from the sale of goods and from the rendering of services. It is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually the point that the customer has signed for the delivery of the 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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on cost
Plant and machinery etc - 25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, including trade receivables, cash and bank balances, are initially recognised at transaction price and are subsequently assessed for indicators of impairment at each reporting end date. If an asset is impaired, the impairment loss, which is the difference between the carrying amount and the net present value of the estimated discounted cash flows, is recognised in the profit and loss account.

Basic financial liabilities, including trade payables, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method. Where these have been acquired in the ordinary course of business from suppliers and where payment is due within one year, then they are classified as current liabilities.

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 Communications Ltd (Registered number: 07359028)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

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.

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 51 (2021 - 46 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2021 73,437
Additions 44,281
At 30 November 2022 117,718
AMORTISATION
At 1 December 2021 49,740
Charge for year 18,180
At 30 November 2022 67,920
NET BOOK VALUE
At 30 November 2022 49,798
At 30 November 2021 23,697

Premier Communications Ltd (Registered number: 07359028)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2021 545,473 54,861 600,334
Additions - 41,699 41,699
At 30 November 2022 545,473 96,560 642,033
DEPRECIATION
At 1 December 2021 493,868 38,148 532,016
Charge for year 21,450 14,717 36,167
At 30 November 2022 515,318 52,865 568,183
NET BOOK VALUE
At 30 November 2022 30,155 43,695 73,850
At 30 November 2021 51,605 16,713 68,318

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Trade debtors 394,446 342,409
Other debtors 108,436 105,258
502,882 447,667

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Trade creditors 486,375 544,568
Taxation and social security 452,042 322,487
Other creditors 66,125 237,390
1,004,542 1,104,445

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Wilkinson FCA (Senior Statutory Auditor)
for and on behalf of Malcolm Jones & Co Limited

9. RELATED PARTY DISCLOSURES

Disclosure re parent undertaking:

Dividends paid to parent undertaking £500,000 (2021 - £1,000,000)

Balances with parent undertaking: Creditors - £22,322 (2021 - £207,172).

Premier Communications Ltd (Registered number: 07359028)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

10. ULTIMATE CONTROLLING PARTY

The controlling party is Family Connect Limited.

The ultimate controlling party is Family Connect (Holdings) Limited.

The group prepares consolidated financial statements into which these accounts are consolidated. Those financial statements may be obtained from West Hill House, Allerton Hill, Chapel Allerton, Leeds, LS7 3QB.