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REGISTERED NUMBER: 04383598 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

PREMIER CATERING EQUIPMENT LIMITED

PREMIER CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 04383598)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIER CATERING EQUIPMENT LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: Mr M J Burgess
Mr M A Rogers





SECRETARY: Mr M J Burgess





REGISTERED OFFICE: 2 Olds Close
Olds Approach
Tolpits Lane
Watford
Hertfordshire
WD18 9RU





REGISTERED NUMBER: 04383598 (England and Wales)





ACCOUNTANTS: Chartswood Limited
Chartered Certified Accountants
6b Parkway
Porters Wood
St Albans
Hertfordshire
AL3 6PA

PREMIER CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 04383598)

BALANCE SHEET
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 62,084 55,121
62,084 55,121

CURRENT ASSETS
Stocks 6 55,076 71,478
Debtors 7 85,465 140,749
Cash at bank 223,200 256,258
363,741 468,485
CREDITORS
Amounts falling due within one year 8 220,501 295,580
NET CURRENT ASSETS 143,240 172,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,324

228,026

CREDITORS
Amounts falling due after more than one year 9 (22,247 ) (44,906 )

PROVISIONS FOR LIABILITIES 11 (11,880 ) (11,419 )
NET ASSETS 171,197 171,701

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 171,097 171,601
SHAREHOLDERS' FUNDS 171,197 171,701

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 04383598)

BALANCE SHEET - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





Mr M J Burgess - Director


PREMIER CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 04383598)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Premier Catering Equipment 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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts, rebates and value added taxes. Turnover includes revenue earned from the sale of goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

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.

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.
Commercial vehicles - 25% on reducing balance
Furniture and equipment - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

PREMIER CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 04383598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 04383598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 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
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.

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 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 200,000
AMORTISATION
At 1 June 2022
and 31 May 2023 200,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

PREMIER CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 04383598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Furniture
Commercial and Motor Computer
vehicles equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 83,902 47,840 46,890 18,456 197,088
Additions 31,958 - - 2,748 34,706
Transfer to ownership (83,902 ) - - - (83,902 )
Reclassification/transfer 83,902 - - - 83,902
At 31 May 2023 115,860 47,840 46,890 21,204 231,794
DEPRECIATION
At 1 June 2022 59,801 45,310 20,514 16,342 141,967
Charge for year 13,419 632 11,723 1,969 27,743
Transfer to ownership (61,919 ) - - - (61,919 )
Reclassification/transfer 61,919 - - - 61,919
At 31 May 2023 73,220 45,942 32,237 18,311 169,710
NET BOOK VALUE
At 31 May 2023 42,640 1,898 14,653 2,893 62,084
At 31 May 2022 24,101 2,530 26,376 2,114 55,121

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Commercial
vehicles
£   
COST
At 1 June 2022 83,902
Transfer to ownership (83,902 )
At 31 May 2023 -
DEPRECIATION
At 1 June 2022 56,360
Charge for year 5,559
Transfer to ownership (61,919 )
At 31 May 2023 -
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 27,542

PREMIER CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 04383598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

6. STOCKS
31.5.23 31.5.22
£    £   
Stocks 55,076 71,478

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 84,599 135,051
Tax - 4,474
Prepayments 866 1,224
85,465 140,749

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts (see note 10) 8,333 8,333
Hire purchase contracts - 2,930
Trade creditors 87,552 131,956
Taxation 11,722 21,477
Social security and other taxes 2,048 2,009
Value added tax 2,567 3,730
Other creditors 6,590 9,488
Directors' current accounts 96,852 109,820
Accruals 4,837 5,837
220,501 295,580

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans (see note 10) 22,247 31,951
Hire purchase contracts - 12,955
22,247 44,906

10. LOANS

An analysis of the maturity of loans is given below:

31.5.23 31.5.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 8,333 8,333

PREMIER CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 04383598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

10. LOANS - continued
31.5.23 31.5.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 22,247 31,951

11. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax
Accelerated capital allowances 11,880 11,419

Deferred
tax
£   
Balance at 1 June 2022 11,419
Charge to Statement of Income and Retained Earnings during year 461
Balance at 31 May 2023 11,880

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 June 2022 171,601
Profit for the year 64,496
Dividends (65,000 )
At 31 May 2023 171,097