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REGISTERED NUMBER: 04114606 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PREMIER TRAFFIC MANAGEMENT LIMITED

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 17


PREMIER TRAFFIC MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: J Beamson
R G Elliott
G N Heywood
D T Moist
M J Rogan
A Stagg
R M Cummings
M B Turner





REGISTERED OFFICE: Unit 13
Tudhoe Industrial Estate
Tudhoe
Co. Durham
DL16 6TL





REGISTERED NUMBER: 04114606 (England and Wales)





AUDITORS: Momentum Taxation & Accountancy Limited
Statutory Auditor
Harelands Courtyard Offices
Moor Road
Melsonby
Richmond
North Yorkshire
DL10 5NY

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023


The directors present their strategic report for the year ended 31 October 2023.

REVIEW OF BUSINESS
During this year we continued to work on our direct contract with National Highways for traffic management works on the country's main infrastructure.
We have continued to work throughout this year to consolidate our position including continued work to refine our management systems and ensuring key personnel are established in key positions.
Turnover has increased with sales of £25 million (2022 £14 million). The gross profit percentage has remained consistent at 21.2% (2022 21.5%).
We have continued to monitor overhead costs closely whilst investing in our staff and systems to improve our management information and controls.
Profit before tax this year was £1.8 million compared to £0.1 million in 2022 reflecting the progress we have made across the business.
The outlook for the future is very positive, the National Highways works are progressing as expected and other works are continuing to develop.

PRINCIPAL RISKS AND UNCERTAINTIES
The process of identifying risks with which the company is faced is addressed by the directors and senior management team on an ongoing basis through the setting out of policies, procedures and adequate controls to mitigate against such.
In line with other businesses any further significant increases in interest rates and/or increases in taxation could have a detrimental effect on our figures. We constantly review interest rates and build them into our ongoing modelling for the future.
In addition, fuel prices have an impact on all consumers. Similar to interest rates above, we are constantly monitoring the costs of fuel and regularly review the way that we incorporate this into our job costing.


PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023

KEY PERFORMANCE INDICATORS
In continuing economically challenging times the business has delivered a set of results for the year in line with expectations.
The summary below shows how the key measures in the business compare against prior years. We remain pleased with the progress of the business as it continues to develop in line with our plans.
Performance is measured with reference to the following KPI's below :

2023 2022 2021
Turnover £25.4m £14.4m £14.7m
Turnover % increase 76.4% -2.5% 9.8%
Gross Margin as a % of sales 21.23% 21.5% 24.1%
Net profit as a % of sales 5.43% 1% 1.5%

Performance has been in line with our expectations.
The key performance indicators used by the directors and management to monitor and control the performance of the company include monthly management accounts, monthly performance reviews and regular progress meetings to compare actual performance against expected performance.

ON BEHALF OF THE BOARD:





R G Elliott - Director


29 July 2024

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 OCTOBER 2023


The directors present their report with the financial statements of the company for the year ended 31 October 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 October 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report.

J Beamson
R G Elliott
G N Heywood
D T Moist
M J Rogan
R M Cummings
M B Turner

Other changes in directors holding office are as follows:

A Stagg - appointed 7 March 2023

DONATIONS
The company made charitable donations of £ 775 in the financial year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 OCTOBER 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Momentum Taxation & Accountancy Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R G Elliott - Director


29 July 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PREMIER TRAFFIC MANAGEMENT LIMITED


Opinion
We have audited the financial statements of Premier Traffic Management Limited (the 'company') for the year ended 31 October 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 October 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PREMIER TRAFFIC MANAGEMENT LIMITED


Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PREMIER TRAFFIC MANAGEMENT LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management.Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. We also addressed the risk of management override of internal controls including testing journals and evaluation whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Our audit procedures were designed to respond to risks of material misstatement in the financial statements,recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery,misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the more remote that the non-compliances (eg with laws and regulations) are from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PREMIER TRAFFIC MANAGEMENT LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Peter Cartwright (Senior Statutory Auditor)
for and on behalf of Momentum Taxation & Accountancy Limited
Statutory Auditor
Harelands Courtyard Offices
Moor Road
Melsonby
Richmond
North Yorkshire
DL10 5NY

31 July 2024

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

INCOME STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Notes £    £   

TURNOVER 25,383,187 14,373,886

Cost of sales 19,987,397 11,280,061
GROSS PROFIT 5,395,790 3,093,825

Administrative expenses 3,327,900 2,810,850
2,067,890 282,975

Other operating income (1,533 ) 7,442
OPERATING PROFIT 4 2,066,357 290,417

Interest receivable and similar income 3,750 29
2,070,107 290,446

Interest payable and similar expenses 6 270,601 170,981
PROFIT BEFORE TAXATION 1,799,506 119,465

Tax on profit 7 421,960 33,866
PROFIT FOR THE FINANCIAL YEAR 1,377,546 85,599

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 1,377,546 85,599


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,377,546

85,599

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 78,014 108,975

CURRENT ASSETS
Stocks 9 214,009 136,338
Debtors 10 8,442,219 6,467,336
Cash at bank 1,357,000 357,929
10,013,228 6,961,603
CREDITORS
Amounts falling due within one year 11 5,072,258 3,505,106
NET CURRENT ASSETS 4,940,970 3,456,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,018,984

3,565,472

CREDITORS
Amounts falling due after more than
one year

12

(477,592

)

(398,409

)

PROVISIONS FOR LIABILITIES 16 (6,704 ) (9,921 )
NET ASSETS 4,534,688 3,157,142

CAPITAL AND RESERVES
Called up share capital 17 93 93
Retained earnings 18 4,534,595 3,157,049
SHAREHOLDERS' FUNDS 4,534,688 3,157,142

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





R G Elliott - Director


PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 November 2021 93 3,071,450 3,071,543

Changes in equity
Total comprehensive income - 85,599 85,599
Balance at 31 October 2022 93 3,157,049 3,157,142

Changes in equity
Total comprehensive income - 1,377,546 1,377,546
Balance at 31 October 2023 93 4,534,595 4,534,688

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,696,578 697,623
Interest paid (270,071 ) (165,648 )
Interest element of hire purchase
payments paid

(530

)

(5,333

)
Tax paid (86,628 ) (202,986 )
Net cash from operating activities 1,339,349 323,656

Cash flows from investing activities
Purchase of tangible fixed assets (7,750 ) (2,530 )
Interest received 3,750 29
Net cash from investing activities (4,000 ) (2,501 )

Cash flows from financing activities
New loans in year 271,250 500,000
Loan repayments in year (139,842 ) (38,006 )
Intercompany loan movements (431,454 ) (508,031 )
Capital repayments in year (36,232 ) (46,400 )
Net cash from financing activities (336,278 ) (92,437 )

Increase in cash and cash equivalents 999,071 228,718
Cash and cash equivalents at beginning
of year

2

357,929

129,211

Cash and cash equivalents at end of
year

2

1,357,000

357,929

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 1,799,506 119,465
Depreciation charges 27,876 58,112
Loss on disposal of fixed assets 10,835 -
Finance costs 270,601 170,981
Finance income (3,750 ) (29 )
2,105,068 348,529
Increase in stocks (77,671 ) (9,525 )
Increase in trade and other debtors (1,564,533 ) (160,006 )
Increase in trade and other creditors 1,233,714 518,625
Cash generated from operations 1,696,578 697,623

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2023
31/10/23 1/11/22
£    £   
Cash and cash equivalents 1,357,000 357,929
Year ended 31 October 2022
31/10/22 1/11/21
£    £   
Cash and cash equivalents 357,929 129,211


PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023


3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1/11/22 Cash flow At 31/10/23
£    £    £   
Net cash
Cash at bank 357,929 999,071 1,357,000
357,929 999,071 1,357,000
Debt
Finance leases (36,232 ) 36,232 -
Debts falling due within 1 year (110,443 ) (52,225 ) (162,668 )
Debts falling due after 1 year (398,409 ) (79,183 ) (477,592 )
(545,084 ) (95,176 ) (640,260 )
Total (187,155 ) 903,895 716,740

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

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


1. STATUTORY INFORMATION

Premier Traffic Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 4% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 12,923,804 7,926,168
Social security costs 23,020 -
Other pension costs 164,534 137,138
13,111,358 8,063,306

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2023 2022

Direct staff 133 137
Administrative staff 28 4
161 141

2023 2022
£    £   
Directors' remuneration 185,000 -
Directors' pension contributions to money purchase schemes 7,400 -

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Hire of plant and machinery 627,904 430,770
Other operating leases 151,978 199,214
Depreciation - owned assets 27,877 37,461
Depreciation - assets on hire purchase contracts - 20,652
Loss on disposal of fixed assets 10,835 -

5. AUDITORS' REMUNERATION
2023 2022
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

12,000

9,000

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 820 1,062
Loan 58,071 30,671
Interest payable 56,389 24,831
Factoring charges 152,576 107,443
Other interest payable 2,215 1,641
Hire purchase 530 5,333
270,601 170,981

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 425,178 42,248

Deferred tax (3,218 ) (8,382 )
Tax on profit 421,960 33,866

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 November 2022 125,783 596,869 9,750
Additions - - -
Disposals - (493,631 ) (9,750 )
At 31 October 2023 125,783 103,238 -
DEPRECIATION
At 1 November 2022 83,837 572,010 9,750
Charge for year 5,032 13,127 -
Eliminated on disposal - (493,631 ) (9,750 )
At 31 October 2023 88,869 91,506 -
NET BOOK VALUE
At 31 October 2023 36,914 11,732 -
At 31 October 2022 41,946 24,859 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 588,485 22,877 1,343,764
Additions - 7,750 7,750
Disposals (410,894 ) - (914,275 )
At 31 October 2023 177,591 30,627 437,239
DEPRECIATION
At 1 November 2022 548,845 20,347 1,234,789
Charge for year 5,491 4,227 27,877
Eliminated on disposal (400,060 ) - (903,441 )
At 31 October 2023 154,276 24,574 359,225
NET BOOK VALUE
At 31 October 2023 23,315 6,053 78,014
At 31 October 2022 39,640 2,530 108,975

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022 82,610
Transfer to ownership (82,610 )
At 31 October 2023 -
DEPRECIATION
At 1 November 2022 48,064
Transfer to ownership (48,064 )
At 31 October 2023 -
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 34,546

9. STOCKS
2023 2022
£    £   
Stocks 214,009 136,338

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,499,838 1,441,859
Account applications 2,537,543 1,139,670
Amounts owed by group undertakings 4,192,459 3,782,109
Prepayments 92,710 83,568
Accrued income 119,669 20,130
8,442,219 6,467,336

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 13) 10,077 9,829
Other loans (see note 13) 152,591 100,614
Hire purchase contracts (see note 14) - 36,232
Trade creditors 3,069,907 2,274,919
Amounts owed to group undertakings 16,952 38,057
Tax 446,099 107,549
Social security and other taxes 182,837 232,228
Net wages 90,332 69,611
Pension liabilities 27,069 23,414
VAT 969 106,040
Other creditors 208,161 22,871
Factored debts 569,992 317,401
Accrued expenses 297,272 166,341
5,072,258 3,505,106

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 13) 17,365 27,442
Other loans (see note 13) 460,227 370,967
477,592 398,409

13. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,077 9,829
Other loans 152,591 100,614
162,668 110,443

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


13. LOANS - continued
2023 2022
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 10,332 10,077
Other loans - 1-2 years 167,587 108,145
177,919 118,222

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,033 17,365
Other loans - 2-5 years 292,640 262,822
299,673 280,187

14. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year - 36,232

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


15. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 36,232
Invoice discounting 569,992 317,400
569,992 353,632

Each hire purchase debt is secured against the plant and machinery that they are financing the purchase of.
The invoice discounting debt is secured by a fixed and floating charge. The floating charge covers all the property or undertaking of the company.

HSBC UK holds the following security:
Composite Company Unlimited Multilateral Guarantee dated 17 July 2013 given by Premier Traffic Management Limited and PTM Holdings Limited.
Debenture including fixed charge over all present freehold and leasehold property; First fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future dated 27 April 2018.
Unlimited Multilateral Guarantee dated 13 March 2018 given by Premier Traffic Management Limited, Berm Holdings Limited, PTM Holdings Limited and Premier Roadmarkings Limited.

16. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,704 9,921

Deferred
tax
£   
Balance at 1 November 2022 9,921
Credit to Income Statement during year (3,217 )
Balance at 31 October 2023 6,704

PREMIER TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 04114606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
90 Ordinary £1 90 90
3 Ordinary A £1 3 3
93 93

18. RESERVES
Retained
earnings
£   

At 1 November 2022 3,157,049
Profit for the year 1,377,546
At 31 October 2023 4,534,595

19. OTHER FINANCIAL COMMITMENTS

The company has entered into non-cancellable operating leases in respect to motor vehicles.

The following is a schedule of the future minimum lease payments required under these leases as at 31 October 2023:

20232022
£   £   
Due within 1 year23,64546,995
Due between 1 and 5 yearsNil23,645


20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is BERM Holdings Limited.