BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is that of distribution of scientific products. 2 July 2024 9 9 NI037486 2023-12-31 NI037486 2022-12-31 NI037486 2021-12-31 NI037486 2023-01-01 2023-12-31 NI037486 2022-01-01 2022-12-31 NI037486 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI037486 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI037486 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI037486 uk-bus:FullAccounts 2023-01-01 2023-12-31 NI037486 uk-bus:Director1 2023-01-01 2023-12-31 NI037486 uk-bus:CompanySecretary1 2023-01-01 2023-12-31 NI037486 uk-bus:RegisteredOffice 2023-01-01 2023-12-31 NI037486 uk-bus:Agent1 2023-01-01 2023-12-31 NI037486 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI037486 uk-core:ShareCapital 2023-12-31 NI037486 uk-core:ShareCapital 2022-12-31 NI037486 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI037486 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI037486 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI037486 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI037486 uk-bus:FRS102 2023-01-01 2023-12-31 NI037486 uk-core:PlantMachinery 2023-01-01 2023-12-31 NI037486 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI037486 uk-core:MotorVehicles 2023-01-01 2023-12-31 NI037486 uk-core:CostValuation 2022-12-31 NI037486 uk-core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 NI037486 uk-core:CostValuation 2023-12-31 NI037486 uk-core:CurrentFinancialInstruments 2023-12-31 NI037486 uk-core:CurrentFinancialInstruments 2022-12-31 NI037486 uk-core:WithinOneYear 2023-12-31 NI037486 uk-core:WithinOneYear 2022-12-31 NI037486 uk-core:WithinOneYear 2023-12-31 NI037486 uk-core:WithinOneYear 2022-12-31 NI037486 uk-core:BadDebts 2022-12-31 NI037486 uk-core:BadDebts 2023-01-01 2023-12-31 NI037486 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 NI037486 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 NI037486 uk-core:OtherDeferredTax 2023-12-31 NI037486 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 NI037486 uk-core:BadDebts 2023-12-31 NI037486 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI037486
 
 
Premier Scientific Limited
 
Director's Report and Unaudited Financial Statements
 
for the financial year ended 31 December 2023
Premier Scientific Limited
DIRECTOR AND OTHER INFORMATION

 
Director Miss. Denise Rooney
 
 
Company Secretary Mrs Fiona Guy
 
 
Company Registration Number NI037486
 
 
Registered Office 16 Mount Charles
Belfast
BT7 1NZ
 
 
Business Address Unit 3 Westbank Drive
Westbank Road
Belfast
BT3 9LA
 
 
Accountants Muldoon & Co
Chartered Accountants and Reporting Accountants
16 Mount Charles
Belfast
BT7 1NZ
 
 
Bankers Bank of Ireland
  1 Donegall Square South
  BT1 5LR
   
   
  AIB
  35 University Road
  Belfast
  BT7 1ND
   
   
  Santander Business Banking
  Bridle Road
  Bootle
  Liverpool
  L30 4GB



Premier Scientific Limited
DIRECTOR'S REPORT
for the financial year ended 31 December 2023

 
The director presents her report and the unaudited financial statements for the financial year ended 31 December 2023.
 
Principal Activity
The principal activity of the company is that of distribution of scientific products.
     
Results and Dividends
The profit for the financial year after providing for depreciation and taxation amounted to £222,813 (2022 - £343,502).
     
Director
The director who served during the financial year is as follows:
     
Miss. Denise Rooney
   
There were no changes in shareholdings between 31 December 2023 and the date of signing the financial statements.
     
Charitable and political contributions
During the year the company made charitable donations of £1,024.
     
Statement of director's Responsibilities and Declaration on Unaudited Financial Statements
     
General responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the director must not approve the financial statements unless she is 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 director is required to:
- select suitable accounting policies and 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 director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is 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.
     
Director's declaration on unaudited financial statements
In relation to the financial statements comprising the Balance Sheet and the related notes:
     
The director approves these financial statements and confirms that she is responsible for them, including selecting the appropriate accounting policies, applying them consistently and making, on a reasonable and prudent basis, the judgements underlying them. They have been prepared on the going concern basis on the grounds that the company will continue in business.
     
The director confirms that she has made available to Muldoon & Co, (Chartered Accountants and Reporting Accountants), all the company's accounting records and provided all the information, books and documents necessary for the compilation of the financial statements.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
___________________________
Miss. Denise Rooney
Director
     
2 July 2024



Premier Scientific Limited

CHARTERED ACCOUNTANTS AND REPORTING ACCOUNTANTS' REPORT
to the Director on the Compilation of the unaudited financial statements of Premier Scientific Limited
for the financial year ended 31 December 2023
 
In accordance with our engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 December 2023 as set out on pages  to 13 which comprise the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of Premier Scientific Limited, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report 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 its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Balance Sheet for the year ended 31 December 2023 your duty to ensure that Premier Scientific Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Premier Scientific Limited. You consider that Premier Scientific Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Premier Scientific Limited. For this reason, we have not verified the adequacy, 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 financial statements.
 
 
 
__________________________________
MULDOON & CO
Chartered Accountants and Reporting Accountants
16 Mount Charles
Belfast
BT7 1NZ
 
2 July 2024



Premier Scientific Limited
Company Registration Number: NI037486
BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 24,306 25,486
Investments 5 78,240 71,515
───────── ─────────
Fixed Assets 102,546 97,001
───────── ─────────
 
Current Assets
Stocks 6 162,263 164,711
Debtors 7 446,662 466,491
Cash and cash equivalents 1,870,096 1,762,879
───────── ─────────
2,479,021 2,394,081
───────── ─────────
Creditors: amounts falling due within one year 8 (458,159) (552,222)
───────── ─────────
Net Current Assets 2,020,862 1,841,859
───────── ─────────
Total Assets less Current Liabilities 2,123,408 1,938,860
 
Provisions for liabilities 10 (4,116) (3,981)
───────── ─────────
Net Assets 2,119,292 1,934,879
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings 2,119,290 1,934,877
───────── ─────────
Equity attributable to owners of the company 2,119,292 1,934,879
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account.
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges her responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 2 July 2024
           
           
           
________________________________          
Miss. Denise Rooney          
Director          
           



Premier Scientific Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Premier Scientific Limited is a private company limited by shares incorporated in Northern Ireland. 16 Mount Charles, Belfast, BT7 1NZ is the registered office . The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Revenue is recognised upon customer receipt.
 
Tangible assets and depreciation
Tangible assets are stated at cost, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - Fully Depreciated
  Fixtures, fittings and equipment - 12.5% Straight Line
  Motor vehicles - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investments
Fixed asset investments are recognised initially at fair value which is normally the transaction price (but excludes any transaction costs, where the investment is subsequently measured at fair value through profit and loss). Subsequently, they are measured at fair value through profit or loss except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably which are recognised at cost less impairment until a reliable measure of fair value becomes available.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
Short-term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
  2023 2022
  Number Number
 
Employees 9 9
  ═════════ ═════════
           
4. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 January 2023 9,467 133,838 27,900 171,205
Additions - 5,130 - 5,130
  ───────── ───────── ───────── ─────────
At 31 December 2023 9,467 138,968 27,900 176,335
  ───────── ───────── ───────── ─────────
Depreciation
At 1 January 2023 9,467 120,902 15,350 145,719
Charge for the financial year - 3,172 3,138 6,310
  ───────── ───────── ───────── ─────────
At 31 December 2023 9,467 124,074 18,488 152,029
  ───────── ───────── ───────── ─────────
Net book value
At 31 December 2023 - 14,894 9,412 24,306
  ═════════ ═════════ ═════════ ═════════
At 31 December 2022 - 12,936 12,550 25,486
  ═════════ ═════════ ═════════ ═════════
       
5. Investments
  Other Total
  investments  
     
Investments £ £
Cost or Valuation
At 1 January 2023 71,515 71,515
Revaluations 6,725 6,725
  ───────── ─────────
At 31 December 2023 78,240 78,240
  ───────── ─────────
Net book value
At 31 December 2023 78,240 78,240
  ═════════ ═════════
At 31 December 2022 71,515 71,515
  ═════════ ═════════
       
6. Stocks 2023 2022
  £ £
 
Finished goods and goods for resale 162,263 164,711
  ═════════ ═════════
       
7. Debtors 2023 2022
  £ £
 
Trade debtors 310,859 344,610
Other debtors 20,608 17,530
Director's current account (Note 12) 106,168 100,021
Taxation and social security costs (Note 9) 1,029 1,029
Prepayments and accrued income 7,998 3,301
  ───────── ─────────
  446,662 466,491
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank overdrafts - 2,086
Trade creditors 357,863 442,630
Taxation and social security costs (Note 9) 94,362 101,572
Accruals 5,934 5,934
  ───────── ─────────
  458,159 552,222
  ═════════ ═════════
       
9. Taxation and social security 2023 2022
  £ £
 
Debtors:
PAYE / NI 1,029 1,029
  ═════════ ═════════
Creditors:
VAT 22,488 11,659
Corporation tax 71,874 89,913
  ───────── ─────────
  94,362 101,572
  ═════════ ═════════
       
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total
  allowances  
     
  2023 2022
  £ £
 
At financial year start 3,981 4,185
Charged to profit and loss 135 (204)
  ───────── ─────────
At financial year end 4,116 3,981
  ═════════ ═════════
   
11. Pension costs - defined contribution
 
The company operates a money purchase pension scheme in respect of  the director and staff. The scheme and its assets are held by independent managers. Pension costs amounted to £190,285 (2022 - £8,520).
   
12. Director's advances, credits and guarantees
 
During the year, the company made loans to the director amounting to £106,168.