IRIS Accounts Production v23.3.1.45 05682175 Board of Directors Board of Directors Board of Directors Board of Directors 6.4.22 5.4.23 5.4.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh056821752022-04-05056821752023-04-05056821752022-04-062023-04-05056821752021-04-05056821752021-04-062022-04-05056821752022-04-0505682175ns10:Originalns15:EnglandWales2022-04-062023-04-0505682175ns14:PoundSterlingns10:Original2022-04-062023-04-0505682175ns10:Originalns10:Director12022-04-062023-04-0505682175ns10:Original2022-04-062023-04-0505682175ns10:Originalns10:Director22022-04-062023-04-0505682175ns10:Originalns10:Director32022-04-062023-04-0505682175ns10:Originalns10:Director42022-04-062023-04-0505682175ns10:Original2023-04-0505682175ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-062023-04-0505682175ns10:Originalns10:SmallEntities2022-04-062023-04-0505682175ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-062023-04-0505682175ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-062023-04-0505682175ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-062023-04-0505682175ns10:Originalns10:FullAccounts2022-04-062023-04-0505682175ns10:Originalns10:RegisteredOffice2022-04-062023-04-0505682175ns10:Original2022-04-0505682175ns10:Originalns5:CurrentFinancialInstruments2023-04-0505682175ns10:Originalns5:CurrentFinancialInstruments2022-04-0505682175ns10:Originalns5:Non-currentFinancialInstruments2023-04-0505682175ns10:Originalns5:Non-currentFinancialInstruments2022-04-0505682175ns5:ShareCapitalns10:Original2023-04-0505682175ns5:ShareCapitalns10:Original2022-04-0505682175ns10:Originalns5:SharePremium2023-04-0505682175ns10:Originalns5:SharePremium2022-04-0505682175ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-04-0505682175ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-0505682175ns10:Originalns5:LandBuildings2022-04-062023-04-0505682175ns10:Originalns5:PlantMachinery2022-04-062023-04-0505682175ns10:Original2021-04-062022-04-0505682175ns10:Originalns5:LandBuildings2022-04-0505682175ns10:Originalns5:PlantMachinery2022-04-0505682175ns10:Original2022-04-0505682175ns10:Originalns5:LandBuildings2023-04-0505682175ns10:Originalns5:PlantMachinery2023-04-0505682175ns10:Originalns5:LandBuildings2022-04-0505682175ns10:Originalns5:PlantMachinery2022-04-0505682175ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-04-0505682175ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-04-062023-04-0505682175ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-0505682175ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-04-0505682175ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-0505682175ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-04-0505682175ns10:Original1ns10:Director12022-04-0505682175ns10:Original1ns10:Director12021-04-0505682175ns10:Original1ns10:Director12022-04-062023-04-0505682175ns10:Original1ns10:Director12021-04-062022-04-0505682175ns10:Original1ns10:Director12023-04-0505682175ns10:Original1ns10:Director12022-04-05
REGISTERED NUMBER: 05682175 (England and Wales)










Unaudited Financial Statements for the Year Ended 5 April 2023

for

Premier Timber Systems Ltd

Premier Timber Systems Ltd (Registered number: 05682175)






Contents of the Financial Statements
for the Year Ended 5 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Premier Timber Systems Ltd

Company Information
for the Year Ended 5 April 2023







DIRECTORS: Mr L A Moorwood
Mr E C Robinson
Mr A M Silvester
Mr A T Walker





REGISTERED OFFICE: Units 14,15 & 16
Power Park Industrial Estate
Calder Vale Road
Wakefield
West Yorkshire
WF1 5PE





REGISTERED NUMBER: 05682175 (England and Wales)

Premier Timber Systems Ltd (Registered number: 05682175)

Balance Sheet
5 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 261,122 203,351

CURRENT ASSETS
Stocks 475,000 566,500
Debtors 5 975,644 655,216
Cash at bank 96,365 239,887
1,547,009 1,461,603
CREDITORS
Amounts falling due within one year 6 1,142,954 1,118,715
NET CURRENT ASSETS 404,055 342,888
TOTAL ASSETS LESS CURRENT
LIABILITIES

665,177

546,239

CREDITORS
Amounts falling due after more than one
year

7

(332,601

)

(260,869

)

PROVISIONS FOR LIABILITIES (86,057 ) (60,027 )
NET ASSETS 246,519 225,343

CAPITAL AND RESERVES
Called up share capital 400 400
Share premium 34,959 34,959
Retained earnings 211,160 189,984
SHAREHOLDERS' FUNDS 246,519 225,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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 Timber Systems Ltd (Registered number: 05682175)

Balance Sheet - continued
5 April 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 Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:




Mr L A Moorwood - Director Mr E C Robinson - Director




Mr A T Walker - Director Mr A M Silvester - Director


Premier Timber Systems Ltd (Registered number: 05682175)

Notes to the Financial Statements
for the Year Ended 5 April 2023

1. STATUTORY INFORMATION

Premier Timber Systems 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, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 Timber Systems Ltd (Registered number: 05682175)

Notes to the Financial Statements - continued
for the Year Ended 5 April 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 the shorter.

The interest element of these obligations is charged to 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.

Pension costs and other post-retirement benefits
The company makes payments to employee pension schemes and this complies with auto enrolment legislation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 6 April 2022 12,036 303,621 315,657
Additions 2,459 125,518 127,977
Disposals - (18,968 ) (18,968 )
At 5 April 2023 14,495 410,171 424,666
DEPRECIATION
At 6 April 2022 1,703 110,603 112,306
Charge for year 1,352 62,852 64,204
Eliminated on disposal - (12,966 ) (12,966 )
At 5 April 2023 3,055 160,489 163,544
NET BOOK VALUE
At 5 April 2023 11,440 249,682 261,122
At 5 April 2022 10,333 193,018 203,351

Premier Timber Systems Ltd (Registered number: 05682175)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 6 April 2022 127,940
Additions 100,775
At 5 April 2023 228,715
DEPRECIATION
At 6 April 2022 47,221
Charge for year 38,374
At 5 April 2023 85,595
NET BOOK VALUE
At 5 April 2023 143,120
At 5 April 2022 80,719

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 824,089 456,552
Other debtors 151,555 198,664
975,644 655,216

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,969 20,512
Hire purchase contracts 39,878 19,180
Trade creditors 557,308 773,385
Taxation and social security 465,530 231,477
Other creditors 57,269 74,161
1,142,954 1,118,715

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 43,159 66,988
Hire purchase contracts 89,439 53,878
Other creditors 200,003 140,003
332,601 260,869

Premier Timber Systems Ltd (Registered number: 05682175)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 129,317 73,058

9. OTHER FINANCIAL COMMITMENTS

At 5th April 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £525,041, (2022: £656,301).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 5 April 2023 and 5 April 2022:

2023 2022
£    £   
Mr L A Moorwood
Balance outstanding at start of year - 74,769
Amounts advanced - 266
Amounts repaid - (75,035 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Monies were loaned by the directors to the company on an interest free basis.

The balances owing to them and reflected in other creditors over 1 year:-

Mr E Robinson £150,002, (2022: £90,002).

Mr A Sylvester £50,001, (2022: £50,001).

11. ULTIMATE CONTROLLING PARTY

The company does not have a controlling party.