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REGISTERED NUMBER: 04219374 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

PREMIER FRAMES (LEICESTER) LIMITED

PREMIER FRAMES (LEICESTER) LIMITED (REGISTERED NUMBER: 04219374)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIER FRAMES (LEICESTER) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr DM Ward
Mrs J Ward
Mr JG Ward



SECRETARY: Mrs J Ward



REGISTERED OFFICE: 4-6 Ireton Avenue
Leicester
Leicestershire
LE4 9EU



REGISTERED NUMBER: 04219374 (England and Wales)



BANKERS: National Westminster Bank PLC
1 Granby Street
Leicester
Leicestershire
LE1 9GT

PREMIER FRAMES (LEICESTER) LIMITED (REGISTERED NUMBER: 04219374)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,708 24,666

CURRENT ASSETS
Stocks 5 42,329 29,557
Debtors 6 572,921 345,687
Cash at bank 102,833 210,256
718,083 585,500
CREDITORS
Amounts falling due within one year 7 634,744 456,681
NET CURRENT ASSETS 83,339 128,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,047

153,485

CREDITORS
Amounts falling due after more than one
year

8

(15,898

)

(26,421

)

PROVISIONS FOR LIABILITIES (4,487 ) (4,687 )
NET ASSETS 85,662 122,377

CAPITAL AND RESERVES
Called up share capital 52 52
Capital redemption reserve 52 52
Retained earnings 85,558 122,273
SHAREHOLDERS' FUNDS 85,662 122,377

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 FRAMES (LEICESTER) LIMITED (REGISTERED NUMBER: 04219374)

BALANCE SHEET - continued
30 JUNE 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 12 February 2024 and were signed on its behalf by:





Mr DM Ward - Director


PREMIER FRAMES (LEICESTER) LIMITED (REGISTERED NUMBER: 04219374)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Premier Frames (Leicester) Limited 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.

Turnover
Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice.

The company supplies products to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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 cost
Fixtures and fittings - 33% on cost
Motor Vehicles - 20% on cost

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

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.


PREMIER FRAMES (LEICESTER) LIMITED (REGISTERED NUMBER: 04219374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 9 ) .

PREMIER FRAMES (LEICESTER) LIMITED (REGISTERED NUMBER: 04219374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2022 45,140 23,777 14,392 83,309
Additions 4,000 1,943 - 5,943
At 30 June 2023 49,140 25,720 14,392 89,252
DEPRECIATION
At 1 July 2022 30,604 22,283 5,756 58,643
Charge for year 3,474 1,549 2,878 7,901
At 30 June 2023 34,078 23,832 8,634 66,544
NET BOOK VALUE
At 30 June 2023 15,062 1,888 5,758 22,708
At 30 June 2022 14,536 1,494 8,636 24,666


5. STOCKS
2023 2022
£    £   
Stocks 30,600 24,682
Work-in-progress 11,729 4,875
42,329 29,557

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 469,683 241,727
Amounts owed by group undertakings 101,594 101,594
Prepayments and accrued income 1,644 2,366
572,921 345,687

PREMIER FRAMES (LEICESTER) LIMITED (REGISTERED NUMBER: 04219374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts (see note 9) 2,684 3,625
Trade creditors 458,158 290,386
Taxation 16,873 29,815
Paye/Ni payable 10,833 8,404
VAT 21,486 24,357
Other creditors 29,103 1,213
Directors' loan accounts 5,758 6,554
Accruals and deferred income 81,849 84,327
634,744 456,681

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 8,000 8,000
Bank loans - 2-5 years 7,898 15,702
Hire purchase contracts (see note 9) - 2,719
15,898 26,421

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 2,684 3,625
Between one and five years - 2,719
2,684 6,344

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 5,327

10. RELATED PARTY DISCLOSURES

At the year end, the company owed £5,758 (2022 - £6,554) to the directors of the company.

No interest was charged on the above balances.

PREMIER FRAMES (LEICESTER) LIMITED (REGISTERED NUMBER: 04219374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


11. PARENT UNDERTAKING

The ultimate parent undertaking of the company is Pine Walk Holdings Limited. The registered office and principal place of business of Pine Walk Holdings Limited is 4-6 Ireton Avenue, Leicester, LE4 9EU.

The company is the subsidiary undertaking of a small group and as such is not required by the companies Act 2006 to prepare group accounts.