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Registered Number: 03917164
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 March 2023

for

PREMM DESIGN LIMITED

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Premm Design Limited for the year ended 31 March 2023 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of Premm Design Limited, as a body, in accordance with the terms of our engagement letter dated 06/05/2016. Our work has been undertaken solely to prepare for your approval the financial statements of Premm Design Limited and state those matters that we have agreed to state to the Board of Directors of Premm Design Limited, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Premm Design Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Premm Design Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Premm Design Limited. You consider that Premm Design Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Premm Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.



....................................................
KWSR & CO LTD


09 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 11,850    14,220 
Tangible fixed assets 4 676,976    676,497 
Investments 5 174,508    184,372 
863,334    875,089 
Current assets      
Debtors: amounts falling due within one year 158,196    99,797 
Cash at bank and in hand 360,521    297,716 
518,717    397,513 
Creditors: amount falling due within one year (217,872)   (133,422)
Net current assets 300,845    264,091 
 
Total assets less current liabilities 1,164,179    1,139,180 
Provisions for liabilities 259    259 
Net assets 1,164,438    1,139,439 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 1,164,338    1,139,339 
Shareholder's funds 1,164,438    1,139,439 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 09 October 2023 and were signed on its behalf by:


-------------------------------
Wendy Elizabeth Premm Jones
Director
-------------------------------
Martin John Premm Jones
Director
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General Information
Premm Design Limited is a private company, limited by shares, registered in England and Wales, registration number 03917164, registration address 43 Douglas Road, Surbiton, Surrey, KT6 7RZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Trade Mark
Trade Mark is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Trade Mark of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 10 (2022 : 10).
3.

Intangible fixed assets

Cost Trade Mark   Total
  £   £
At 01 April 2022 23,700    23,700 
Additions  
Disposals  
At 31 March 2023 23,700    23,700 
Amortisation
At 01 April 2022 9,480    9,480 
Charge for year 2,370    2,370 
On disposals  
At 31 March 2023 11,850    11,850 
Net book values
At 31 March 2023 11,850    11,850 
At 31 March 2022 14,220    14,220 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Land and Buildings   Total
  £   £   £   £
At 01 April 2022 37,356    60,644    674,436    772,436 
Additions   1,763      1,763 
Disposals      
At 31 March 2023 37,356    62,407    674,436    774,199 
Depreciation
At 01 April 2022 37,182    58,757      95,939 
Charge for year 44    1,240      1,284 
On disposals      
At 31 March 2023 37,226    59,997      97,223 
Net book values
Closing balance as at 31 March 2023 130    2,410    674,436    676,976 
Opening balance as at 01 April 2022 174    1,887    674,436    676,497 

The net book value of Land and Buildings includes £ 674,436 (2022 £674,436) in respect of assets leased under finance leases or hire purchase contracts.

5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2022 174,508    174,508 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2023 174,508    174,508 

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100 B Ordinary shares of £1.00 each 100    100 
200    200 

3