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Registered number: 05776802
















PREMIER PROMOTIONS AND EXHIBITIONS LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023


































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PREMIER PROMOTIONS AND EXHIBITIONS LIMITED
REGISTERED NUMBER:05776802

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
  
14,721
-

  
14,721
-

Current assets
  

Debtors: amounts falling due within one year
 5 
127,164
162,051

Cash at bank and in hand
 6 
31,503
44,827

  
158,667
206,878

Creditors: amounts falling due within one year
 7 
(147,362)
(249,492)

Net current assets/(liabilities)
  
11,305
(42,614)

Total assets less current liabilities
  
26,026
(42,614)

  

Net assets/(liabilities)
  
26,026
(42,614)


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
26,025
(42,615)

  
26,026
(42,614)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

G Hinde
Director
Date: 12 December 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 1


PREMIER PROMOTIONS AND EXHIBITIONS LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 September 2021
1
89,829
89,830


Comprehensive income for the year

Loss for the year
-
(132,444)
(132,444)
Total comprehensive income for the year
-
(132,444)
(132,444)



At 1 September 2022
1
(42,615)
(42,614)


Comprehensive income for the year

Profit for the year
-
68,640
68,640
Total comprehensive income for the year
-
68,640
68,640


At 31 August 2023
1
26,025
26,026


The notes on pages 3 to 8 form part of these financial statements.

Page 2


PREMIER PROMOTIONS AND EXHIBITIONS LIMITED

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

1.


GENERAL INFORMATION

Premier Promotions and Exhibitions Limited is a private Company, limited by shares, registered in England and Wales. Its registered number is 05776802 and its registered office is Unit D8-10 Ferry Road, Jackfield, Telford, Shropshire, England, TF8 7LS.
The Company's principal activity is that of event and exhibition management.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The presentation and functional currency of the Company is GBP and these financial statements are rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The Directors have reviewed budgets and forecasts for a period of 12 months following the date of approval of the financial statements and are of the opinion that the financial statements are correctly prepared on the going concern basis. The Company continues to hold healthy cash reserves and has a strong balance sheet. The Directors have considered the going concern of the business in light of challenges faced in relation to the current financial climate and feel that the Company is well structured to respond to these challenges for the foreseeable future. The directors therefore continue to adopt the going concern basis in preparing these financial statements.

 
2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.

Page 3


PREMIER PROMOTIONS AND EXHIBITIONS LIMITED

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

2.ACCOUNTING POLICIES (continued)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4


PREMIER PROMOTIONS AND EXHIBITIONS LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.5

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.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

CREDITORS

Short-term 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.

 
2.8

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2022: 3).

Page 5


PREMIER PROMOTIONS AND EXHIBITIONS LIMITED

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

4.


TANGIBLE FIXED ASSETS





Fixtures and fittings

£



COST OR VALUATION


Additions
16,291



At 31 August 2023

16,291



DEPRECIATION


Charge for the year on owned assets
1,570



At 31 August 2023

1,570



NET BOOK VALUE



At 31 August 2023
14,721



At 31 August 2022
-


5.


DEBTORS

2023
2022
£
£


Trade debtors
4,526
2,454

Other debtors
19,019
61,462

Prepayments and accrued income
103,619
98,135

127,164
162,051



6.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
31,503
44,827


Page 6


PREMIER PROMOTIONS AND EXHIBITIONS LIMITED

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

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
105,777
107,210

Amounts owed to group undertakings
35,219
137,159

Accruals and deferred income
6,366
5,123

147,362
249,492



8.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2022: 1) Ordinary share of £1.00
1
1



9.


CONTINGENT LIABILITIES

Premier Promotions and Exhibitions Ltd has contractual commitments relating to planned events in subsequent years. The agreement in place has terms and conditions that may give rise to costs payable by Premier Promotions and Exhibitions Ltd were the events to be cancelled. The costs that may be due is dependent on a number of factors, so no amount relating to the contingent liability is disclosed.


10.


COMMITMENTS UNDER OPERATING LEASES

At 31 August 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
-
3,171

-
3,171


11.


RELATED PARTY TRANSACTIONS

The Company has taken advantage of the exemption available under FRS102 Section 33.1a to not disclose transactions with wholly owned group undertakings.
In the year sales of £8,800 (2022: £6,000) were made to Daro (trading) Ltd, a company with common directorship. 

Page 7


PREMIER PROMOTIONS AND EXHIBITIONS LIMITED

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

12.


CONTROLLING PARTY

The Company's ultimate parent company is Leisure and Outdoor Furniture Association Limited, a Company incorporated in England and Wales.


13.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 August 2023 was unqualified.

The audit report was signed on 23 April 2024 by Andrew Wood FCCA (Senior Statutory Auditor) on behalf of Bishop Fleming LLP.

 
Page 8