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REGISTERED NUMBER: 09352405 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PREMIER ENGINEERING CORPORATION LIMITED

PREMIER ENGINEERING CORPORATION LIMITED (REGISTERED NUMBER: 09352405)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIER ENGINEERING CORPORATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs J M Freeman
A Freeman





REGISTERED OFFICE: 8 Twisleton Court
Priory Hill
Dartford
Kent
DA1 2EN





REGISTERED NUMBER: 09352405 (England and Wales)





ACCOUNTANTS: Blue Rocket Accounting
Accountants and Tax Advisers
8 Twisleton Court
Priory Hill
Dartford
Kent
DA1 2EN

PREMIER ENGINEERING CORPORATION LIMITED (REGISTERED NUMBER: 09352405)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 45,742 67,683
Tangible assets 5 7,733 7,888
53,475 75,571

CURRENT ASSETS
Debtors 6 1,017,769 1,284,468
Cash at bank and in hand 1,149,361 966,493
2,167,130 2,250,961
CREDITORS
Amounts falling due within one year 7 311,567 232,500
NET CURRENT ASSETS 1,855,563 2,018,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,909,038

2,094,032

CAPITAL AND RESERVES
Called up share capital 110 140
Retained earnings 1,908,928 2,093,892
1,909,038 2,094,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

PREMIER ENGINEERING CORPORATION LIMITED (REGISTERED NUMBER: 09352405)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:




Mrs J M Freeman - Director



A Freeman - Director


PREMIER ENGINEERING CORPORATION LIMITED (REGISTERED NUMBER: 09352405)

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

1. STATUTORY INFORMATION

Premier Engineering Corporation 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" including the provisions of Section 1A "Small Entities" 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.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

PREMIER ENGINEERING CORPORATION LIMITED (REGISTERED NUMBER: 09352405)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 219,416
AMORTISATION
At 1 January 2023 151,733
Amortisation for year 21,941
At 31 December 2023 173,674
NET BOOK VALUE
At 31 December 2023 45,742
At 31 December 2022 67,683

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 5,098 6,850 5,140 17,088
Additions - 424 1,633 2,057
At 31 December 2023 5,098 7,274 6,773 19,145
DEPRECIATION
At 1 January 2023 4,006 2,356 2,838 9,200
Charge for year 219 1,391 602 2,212
At 31 December 2023 4,225 3,747 3,440 11,412
NET BOOK VALUE
At 31 December 2023 873 3,527 3,333 7,733
At 31 December 2022 1,092 4,494 2,302 7,888

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 251,305 212,546
Other debtors 766,464 1,071,922
1,017,769 1,284,468

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 845 4,720
Taxation and social security 287,808 211,684
Other creditors 22,914 16,096
311,567 232,500

PREMIER ENGINEERING CORPORATION LIMITED (REGISTERED NUMBER: 09352405)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31/12/23 31/12/22
£    £   
Mrs J M Freeman
Balance outstanding at start of year 436,242 299,611
Amounts advanced 287,627 136,631
Amounts repaid (436,242 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 287,627 436,242

A Freeman
Balance outstanding at start of year 444,469 252,838
Amounts advanced 287,627 191,631
Amounts repaid (444,469 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 287,627 444,469