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Company Registration No. 10602566 (England and Wales)
Premier SME Funding Limited Unaudited accounts for the year ended 29 February 2024
Premier SME Funding Limited Unaudited accounts Contents
Page
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Premier SME Funding Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
23,718 
30,084 
Current assets
Debtors
13,362 
8,168 
Cash at bank and in hand
98,391 
43,404 
111,753 
51,572 
Creditors: amounts falling due within one year
(15,708)
(10,879)
Net current assets
96,045 
40,693 
Total assets less current liabilities
119,763 
70,777 
Creditors: amounts falling due after more than one year
(8,834)
- 
Provisions for liabilities
Deferred tax
(1,290)
(1,415)
Net assets
109,639 
69,362 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
109,638 
69,361 
Shareholders' funds
109,639 
69,362 
For the year ending 29 February 2024 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 her 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 19 March 2024 and were signed on its behalf by
S Thorpe Director Company Registration No. 10602566
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Premier SME Funding Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Premier SME Funding Limited is a private company, limited by shares, registered in England and Wales, registration number 10602566. The registered office is NM Business Suites, Abacus House, Station Yard, Needham Market, Suffolk, IP6 8AS.
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.
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:
Computer equipment
5 years reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Premier SME Funding Limited Notes to the Accounts for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
1,200 
At 29 February 2024
1,200 
Amortisation
At 1 March 2023
1,200 
At 29 February 2024
1,200 
Net book value
At 29 February 2024
- 
5
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
27,600 
3,226 
30,826 
Additions
- 
1,136 
1,136 
At 29 February 2024
27,600 
4,362 
31,962 
Depreciation
At 1 March 2023
- 
742 
742 
Charge for the year
6,900 
602 
7,502 
At 29 February 2024
6,900 
1,344 
8,244 
Net book value
At 29 February 2024
20,700 
3,018 
23,718 
At 28 February 2023
27,600 
2,484 
30,084 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,888 
- 
Other debtors
11,474 
8,168 
13,362 
8,168 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
4,260 
- 
Taxes and social security
11,196 
10,758 
Loans from directors
252 
121 
15,708 
10,879 
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Premier SME Funding Limited Notes to the Accounts for the year ended 29 February 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
8,834 
- 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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