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REGISTERED NUMBER: 02766584















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PREMIER CARPETS AND FLOORING LIMITED

PREMIER CARPETS AND FLOORING LIMITED (REGISTERED NUMBER: 02766584)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIER CARPETS AND FLOORING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: R E Colman
Miss E J Stowe
M F Thompson



REGISTERED OFFICE: Unit 9, Walton Works
Macrome Road
Claregate
Wolverhampton
West Midlands
WV6 9HD



REGISTERED NUMBER: 02766584



ACCOUNTANTS: The Accountancy Domain Limited
152 Codsall Road
Tettenhall
Wolverhampton
West Midlands
WV6 9QQ



BANKERS: HSBC Bank Plc
9 Queen Square
Wolverhampton
Wolverhampton
West Midlands
WV1 1TE

PREMIER CARPETS AND FLOORING LIMITED (REGISTERED NUMBER: 02766584)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 65,329 24,426
Investments 6 197,947 197,947
263,276 222,373

CURRENT ASSETS
Stocks 52,350 50,250
Debtors 7 121,026 513,737
Cash at bank 230,945 44,027
404,321 608,014
CREDITORS
Amounts falling due within one year 8 198,003 202,684
NET CURRENT ASSETS 206,318 405,330
TOTAL ASSETS LESS CURRENT
LIABILITIES

469,594

627,703

CREDITORS
Amounts falling due after more than one
year

9

28,333

38,333
NET ASSETS 441,261 589,370

CAPITAL AND RESERVES
Called up share capital 210 210
Retained earnings 441,051 589,160
SHAREHOLDERS' FUNDS 441,261 589,370

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 CARPETS AND FLOORING LIMITED (REGISTERED NUMBER: 02766584)

BALANCE SHEET - continued
31 MARCH 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 5 January 2024 and were signed on its behalf by:





R E Colman - Director


PREMIER CARPETS AND FLOORING LIMITED (REGISTERED NUMBER: 02766584)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Premier Carpets and Flooring Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance, 20% on reducing balance and 15% 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.

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 CARPETS AND FLOORING LIMITED (REGISTERED NUMBER: 02766584)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 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 NIL (2022 - 7 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 7,000
AMORTISATION
At 1 April 2022
and 31 March 2023 7,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 115,249
Additions 68,739
Disposals (12,780 )
At 31 March 2023 171,208
DEPRECIATION
At 1 April 2022 90,823
Charge for year 20,647
Eliminated on disposal (5,591 )
At 31 March 2023 105,879
NET BOOK VALUE
At 31 March 2023 65,329
At 31 March 2022 24,426

PREMIER CARPETS AND FLOORING LIMITED (REGISTERED NUMBER: 02766584)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 197,947
NET BOOK VALUE
At 31 March 2023 197,947
At 31 March 2022 197,947

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 62,126 100,455
Other debtors 58,900 413,282
121,026 513,737

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 5,833 5,833
Trade creditors 118,031 130,643
Taxation and social security 13,891 10,208
Other creditors 60,248 56,000
198,003 202,684

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 28,333 38,333

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
R E Colman
Balance outstanding at start of year 349,370 439,300
Amounts advanced 250,000 352,070
Amounts repaid (618,618 ) (442,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (19,248 ) 349,370