Company registration number 06638981 (England and Wales)
PREMIER SURFACING CONTRACTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
PREMIER SURFACING CONTRACTORS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PREMIER SURFACING CONTRACTORS LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
10,000
Tangible assets
4
699,268
557,688
699,268
567,688
Current assets
Stocks
10,000
20,000
Debtors
5
771,436
726,225
Cash at bank and in hand
738,341
587,801
1,519,777
1,334,026
Creditors: amounts falling due within one year
6
(594,817)
(632,317)
Net current assets
924,960
701,709
Total assets less current liabilities
1,624,228
1,269,397
Creditors: amounts falling due after more than one year
7
(160,536)
(117,582)
Provisions for liabilities
(139,123)
(105,734)
Net assets
1,324,569
1,046,081
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,324,469
1,045,981
Total equity
1,324,569
1,046,081

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

PREMIER SURFACING CONTRACTORS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023
31 October 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 March 2024 and are signed on its behalf by:
Mr A Barrett
Mr S J Dourish
Director
Director
Company registration number 06638981 (England and Wales)
PREMIER SURFACING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
1
Accounting policies
Company information

Premier Surfacing Contractors Limited is a private company limited by shares incorporated in England and Wales. The registered office is Plot 20 Ollerton Business Park, Ollerton, Childs Ercall, Market Drayton, Shropshire, TF9 2DB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of fifteen years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
2% on cost
Plant and equipment
15% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

PREMIER SURFACING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
15
15
3
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
150,000
Amortisation and impairment
At 1 November 2022
140,000
Amortisation charged for the year
10,000
At 31 October 2023
150,000
Carrying amount
At 31 October 2023
-
0
At 31 October 2022
10,000
PREMIER SURFACING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 5 -
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2022
4,500
846,472
295,525
1,146,497
Additions
-
0
202,550
67,475
270,025
Disposals
-
0
(91,476)
-
0
(91,476)
At 31 October 2023
4,500
957,546
363,000
1,325,046
Depreciation and impairment
At 1 November 2022
3,305
443,678
141,826
588,809
Depreciation charged in the year
90
73,460
30,432
103,982
Revaluation
-
0
(67,013)
-
0
(67,013)
At 31 October 2023
3,395
450,125
172,258
625,778
Carrying amount
At 31 October 2023
1,105
507,421
190,742
699,268
At 31 October 2022
1,195
402,794
153,699
557,688
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
666,734
711,358
Other debtors
104,702
14,867
771,436
726,225
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
255,384
248,057
Taxation and social security
99,114
82,002
Other creditors
240,319
302,258
594,817
632,317
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
160,536
117,582
PREMIER SURFACING CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
7
Creditors: amounts falling due after more than one year
(Continued)
- 6 -

Creditors includes secured debts for hire purchase contracts of £234,929 (2022 : £178,682)

2023-10-312022-11-01false25 March 2024CCH SoftwareCCH Accounts Production 2023.300Residential and commercial surfacing specialists
Mr Anthony BarrettMr Shaun James DourishMr Kieran Robert William BarrettMr S J Dourishfalse
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