IRIS Accounts Production v24.1.9.2 05902977 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 13.9.24 false true false false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh059029772022-12-31059029772023-12-31059029772023-01-012023-12-31059029772021-12-31059029772022-01-012022-12-31059029772022-12-3105902977ns15:EnglandWales2023-01-012023-12-3105902977ns14:PoundSterling2023-01-012023-12-3105902977ns10:Director12023-01-012023-12-3105902977ns10:Director22023-01-012023-12-3105902977ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105902977ns10:SmallEntities2023-01-012023-12-3105902977ns10:Audited2023-01-012023-12-3105902977ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105902977ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105902977ns10:FullAccounts2023-01-012023-12-310590297712023-01-012023-12-3105902977ns10:OrdinaryShareClass12023-01-012023-12-3105902977ns10:CompanySecretary12023-01-012023-12-3105902977ns10:RegisteredOffice2023-01-012023-12-3105902977ns5:CurrentFinancialInstruments2023-12-3105902977ns5:CurrentFinancialInstruments2022-12-3105902977ns5:ShareCapital2023-12-3105902977ns5:ShareCapital2022-12-3105902977ns5:RetainedEarningsAccumulatedLosses2023-12-3105902977ns5:RetainedEarningsAccumulatedLosses2022-12-3105902977ns5:NetGoodwill2023-01-012023-12-3105902977ns5:PlantMachinery2023-01-012023-12-3105902977ns5:NetGoodwill2022-12-3105902977ns5:NetGoodwill2023-12-3105902977ns5:NetGoodwill2022-12-3105902977ns5:PlantMachinery2022-12-3105902977ns5:PlantMachinery2023-12-3105902977ns5:PlantMachinery2022-12-3105902977ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105902977ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105902977ns5:WithinOneYear2023-12-3105902977ns5:WithinOneYear2022-12-3105902977ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 05902977 (England and Wales)


























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PREMIAIR APPLIANCES LIMITED

PREMIAIR APPLIANCES LIMITED (REGISTERED NUMBER: 05902977)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PREMIAIR APPLIANCES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M Benyon
Mr R J J Fox





SECRETARY: Mr M Benyon





REGISTERED OFFICE: Altai House
Lancots Lane
Sutton Oak
St Helens
Merseyside
WA9 3EX





REGISTERED NUMBER: 05902977 (England and Wales)





AUDITORS: Livesey Spottiswood Ltd
Chartered Accountants and
Statutory Auditors
17 George Street
St Helens
Merseyside
WA10 1DB

PREMIAIR APPLIANCES LIMITED (REGISTERED NUMBER: 05902977)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 424
- 424

CURRENT ASSETS
Stocks 1,319,766 2,073,435
Debtors 6 1,006,955 575,455
Cash at bank 9,732 67,142
2,336,453 2,716,032
CREDITORS
Amounts falling due within one year 7 (299,491 ) (686,011 )
NET CURRENT ASSETS 2,036,962 2,030,021
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,036,962

2,030,445

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 2,036,862 2,030,345
SHAREHOLDERS' FUNDS 2,036,962 2,030,445

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 10 September 2024 and were signed on its behalf by:




Mr M Benyon - Director



Mr R J J Fox - Director


PREMIAIR APPLIANCES LIMITED (REGISTERED NUMBER: 05902977)

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


1. STATUTORY INFORMATION

Premiair Appliances 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. The resulting accounting estimate will, by definition, seldom equal the actual results. The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year is in respect of the provision against stock.

The company sell items which can become technologically obsolete. As a result it is necessary to consider the recoverability of the cost of stock and the associated provision required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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 etc - 25% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all direct production costs, costs of conversion and other costs incurred in bringing stock to it's present location and condition. Cost is calculated using the average cost formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.


PREMIAIR APPLIANCES LIMITED (REGISTERED NUMBER: 05902977)

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


2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 30,000
AMORTISATION
At 1 January 2023
and 31 December 2023 30,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 63,382
DEPRECIATION
At 1 January 2023 62,958
Charge for year 424
At 31 December 2023 63,382
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 424

PREMIAIR APPLIANCES LIMITED (REGISTERED NUMBER: 05902977)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 641,525 395,820
Other debtors 365,430 179,635
1,006,955 575,455

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 22 34,020
Taxation and social security 207,865 102,082
Other creditors 91,604 549,909
299,491 686,011

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 4,167 4,167

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Andrew McMinnis ACA FCCA (Senior Statutory Auditor)
for and on behalf of Livesey Spottiswood Ltd

11. CONTINGENT LIABILITIES

The company has entered into an inter-company bank guarantee with other group companies of up to £750,000 gross. The net indebtedness of other group companies at 31 December 2023 was £Nil (2022 - £183,619).

12. RELATED PARTY DISCLOSURES

During the year the company purchased and sold goods to the value of £32,248 (2022 - £57,286) and £386,864 (2022 - £434,991) respectively, from companies within the Holmpatrick Group. During the year the company also incurred management charges of £200,000 (2022 - £200,000) from companies within the Holmpatrick Group.

During the year the company incurred rent charges of £50,000 (2022 - £50,000) from Holmpatrick Limited.

At 31 December 2023, £348,783 (2022 - £34,019) was due from, and £4,114 (2022 - £404,950) was due to companies within the Holmpatrick Group.

During the year a dividend of £Nil (2022 - £400,000) was paid to the shareholders.

13. ULTIMATE PARENT COMPANY

The company's ultimate parent company is Holmpatrick Limited, a company incorporated in England and Wales. The registered office of Holmpatrick Limited is Lancots Lane, Sutton, St Helens, WA9 3EX.

PREMIAIR APPLIANCES LIMITED (REGISTERED NUMBER: 05902977)

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


14. PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.