Company Registration No. 05310336 (England and Wales)
PREMIER GLASS RENOVATION LIMITED
Unaudited accounts
for the year ended 31 May 2023
PREMIER GLASS RENOVATION LIMITED
Unaudited accounts
Contents
PREMIER GLASS RENOVATION LIMITED
Company Information
for the year ended 31 May 2023
Director
John Mark Grimmett
Company Number
05310336 (England and Wales)
Registered Office
PREMIER HOUSE
BENFIELD ROAD
NEWCASTLE UPON TYNE
NE6 5XA
Accountants
LRK Accounting & Bookkeeping Ltd
128 City Road
London
EC1V 2NX
PREMIER GLASS RENOVATION LIMITED
Statement of financial position
as at 31 May 2023
Tangible assets
14,162
17,918
Cash at bank and in hand
5,741
23,026
Creditors: amounts falling due within one year
(18,740)
(18,011)
Net current assets
18,797
35,091
Total assets less current liabilities
32,959
53,009
Creditors: amounts falling due after more than one year
(23,333)
(33,333)
Provisions for liabilities
Deferred tax
(2,691)
(2,861)
Called up share capital
1
1
Profit and loss account
6,934
16,814
Shareholders' funds
6,935
16,815
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 February 2024 and were signed on its behalf by
John Mark Grimmett
Director
Company Registration No. 05310336
PREMIER GLASS RENOVATION LIMITED
Notes to the Accounts
for the year ended 31 May 2023
PREMIER GLASS RENOVATION LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05310336. The registered office is PREMIER HOUSE, BENFIELD ROAD, NEWCASTLE UPON TYNE, NE6 5XA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
25% Reducing Balance
Computer equipment
15% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through cash generated from operations and external borrowings. The company's forecast and projections for the next twelve months show that the company should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance.
Based on the factors set out above, the director believes that it remains appropriate to prepare the financial statements on a going concern basis.
PREMIER GLASS RENOVATION LIMITED
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2022
19,455
15,500
1,337
36,292
At 31 May 2023
19,455
15,500
1,337
36,292
At 1 June 2022
6,051
11,515
808
18,374
Charge for the year
2,681
996
79
3,756
At 31 May 2023
8,732
12,511
887
22,130
At 31 May 2023
10,723
2,989
450
14,162
At 31 May 2022
13,404
3,985
529
17,918
Amounts falling due within one year
Trade debtors
12,284
7,076
Amounts falling due after more than one year
Other debtors
19,212
20,712
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Trade creditors
5,536
5,540
Taxes and social security
198
-
Loans from directors
2,092
2,092
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
PREMIER GLASS RENOVATION LIMITED
Notes to the Accounts
for the year ended 31 May 2023
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).