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Registration number: 11483700

Premier Building (Bromsgrove) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Premier Building (Bromsgrove) Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

iXBRL Detailed Profit and Loss Account

14

 

Premier Building (Bromsgrove) Limited

Company Information

Director

Mr Nathan Kibble

Registered office

Mailbox 6, A Singh Accountancy Ltd
West Midlands House Ltd
Gipsy Lane
Willenhall
West Midlands
WV13 2HA

Accountants

A Singh Accountancy
Mailbox 6, A Singh Accountancy Ltd
West Midlands House Ltd
Gipsy Lane
Willenhall
West Midlands
WV13 2HA

 

Premier Building (Bromsgrove) Limited

Director's Report for the Year Ended 31 July 2023

The director presents his report and the financial statements for the year ended 31 July 2023.

Director of the company

The director who held office during the year was as follows:

Mr Nathan Kibble

Principal activity

The principal activity of the company is Construction of domestic buildings

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 27 June 2024
 

.........................................
Mr Nathan Kibble
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Premier Building (Bromsgrove) Limited
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Premier Building (Bromsgrove) Limited for the year ended 31 July 2023 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Premier Building (Bromsgrove) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Premier Building (Bromsgrove) Limited and state those matters that we have agreed to state to the Board of Directors of Premier Building (Bromsgrove) Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Premier Building (Bromsgrove) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Premier Building (Bromsgrove) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Premier Building (Bromsgrove) Limited. You consider that Premier Building (Bromsgrove) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Premier Building (Bromsgrove) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

A Singh Accountancy
Mailbox 6, A Singh Accountancy Ltd
West Midlands House Ltd
Gipsy Lane
Willenhall
West Midlands
WV13 2HA

27 June 2024

 

Premier Building (Bromsgrove) Limited

Profit and Loss Account for the Year Ended 31 July 2023

Note

2023
£

2022
£

Turnover

 

121,558

100,496

Cost of sales

 

(96,307)

(76,211)

Gross profit

 

25,251

24,285

Administrative expenses

 

(25,695)

(23,109)

Operating (loss)/profit

 

(444)

1,176

Interest payable and similar expenses

 

(1)

(426)

(Loss)/profit before tax

4

(445)

750

(Loss)/profit for the financial year

 

(445)

750

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Premier Building (Bromsgrove) Limited

Statement of Comprehensive Income for the Year Ended 31 July 2023

2023
£

2022
£

(Loss)/profit for the year

(445)

750

Total comprehensive income for the year

(445)

750

 

Premier Building (Bromsgrove) Limited

(Registration number: 11483700)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

9,593

12,791

Current assets

 

Debtors

6

1,597

-

Cash at bank and in hand

 

1,951

10,633

 

3,548

10,633

Creditors: Amounts falling due within one year

7

(8,885)

(10,204)

Net current (liabilities)/assets

 

(5,337)

429

Total assets less current liabilities

 

4,256

13,220

Creditors: Amounts falling due after more than one year

7

(27,648)

(36,167)

Net liabilities

 

(23,392)

(22,947)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(23,492)

(23,047)

Shareholders' deficit

 

(23,392)

(22,947)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 27 June 2024
 

.........................................
Mr Nathan Kibble
Director

 

Premier Building (Bromsgrove) Limited

Statement of Changes in Equity for the Year Ended 31 July 2023

Share capital
£

Retained earnings
£

Total
£

At 1 August 2022

100

(23,047)

(22,947)

Loss for the year

-

(445)

(445)

At 31 July 2023

100

(23,492)

(23,392)

Share capital
£

Retained earnings
£

Total
£

At 1 August 2021

100

(23,797)

(23,697)

Profit for the year

-

750

750

At 31 July 2022

100

(23,047)

(22,947)

 

Premier Building (Bromsgrove) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Mailbox 6, A Singh Accountancy Ltd
West Midlands House Ltd
Gipsy Lane
Willenhall
West Midlands
WV13 2HA
United Kingdom

These financial statements were authorised for issue by the director on 27 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Premier Building (Bromsgrove) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 1).

 

Premier Building (Bromsgrove) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

3,198

4,264

 

Premier Building (Bromsgrove) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

22,740

22,740

At 31 July 2023

22,740

22,740

Depreciation

At 1 August 2022

9,949

9,949

Charge for the year

3,198

3,198

At 31 July 2023

13,147

13,147

Carrying amount

At 31 July 2023

9,593

9,593

At 31 July 2022

12,791

12,791

6

Debtors

Current

2023
£

2022
£

Other debtors

1,597

-

 

1,597

-

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

8,000

8,000

Trade creditors

 

885

506

Taxation and social security

 

-

1,429

Other creditors

 

-

269

 

8,885

10,204

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

27,648

36,167

 

Premier Building (Bromsgrove) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £100 each

1

100

1

100

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

27,648

36,167

Current loans and borrowings

2023
£

2022
£

Bank borrowings

8,000

8,000

10

Related party transactions

 

Premier Building (Bromsgrove) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

6,000

6,000

 

Premier Building (Bromsgrove) Limited

iXBRL Detailed Profit and Loss Account for the Year Ended 31 July 2023

2023
£

2022
£

Turnover/revenue

121,558

100,496

Cost of sales

Opening stock/inventories

-

-

Purchase of raw materials and consumables

(49,096)

(62,170)

Closing stock/inventories

-

-

Subcontractor costs

(47,211)

(14,041)

Gross profit

25,251

24,285

Distribution costs

Administrative expenses

Audit and accountancy other services

(1,608)

(1,440)

Other repairs and maintenance costs

(5,638)

(3,260)

Depreciation of fixed assets

(3,198)

(4,264)

Vehicle costs

(5,368)

(6,068)

Salaries and fees, directors

(6,000)

(6,000)

Travel and subsistence

(122)

(337)

Legal and professional costs

(586)

-

Bank charges

(134)

(90)

Insurance costs

(1,052)

(445)

IT and computing

(1,240)

-

Printing, postage and stationery

(132)

(666)

Subscriptions

(617)

(539)

Other operating income

Other items

(Loss)/profit on ordinary activities before finance charges and interest

(444)

1,176

Interest expense on bank overdraft, bank loans and similar borrowings

(1)

(426)

(Loss)/profit for the financial year

(445)

750