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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
Page
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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
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PREMIER GLASS RENOVATION LIMITED Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,162 
17,918 
Current assets
Inventories
300 
500 
Debtors
31,496 
29,576 
Cash at bank and in hand
5,741 
23,026 
37,537 
53,102 
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)
Net assets
6,935 
16,815 
Capital and reserves
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
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PREMIER GLASS RENOVATION LIMITED Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 taxation
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.
Going concern
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.
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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 
Depreciation
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 
Net book value
At 31 May 2023
10,723 
2,989 
450 
14,162 
At 31 May 2022
13,404 
3,985 
529 
17,918 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
12,284 
7,076 
Other debtors
- 
1,788 
12,284 
8,864 
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 
VAT
254 
(202)
Trade creditors
5,536 
5,540 
Taxes and social security
198 
- 
Other creditors
94 
81 
Loans from directors
2,092 
2,092 
Accruals
566 
500 
18,740 
18,011 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
23,333 
33,333 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
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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).
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