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REGISTERED NUMBER: 04259463 (England and Wales)

















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Premier Welding Services Limited

Premier Welding Services Limited (Registered number: 04259463)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Premier Welding Services Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr A R Ryder
Mr A E Ryder
Mr A Ferriday





SECRETARY: Mrs Z J Ryder





REGISTERED OFFICE: Lishmans
16-18 station road
sheffield
South Yorkshire
S35 2XH





REGISTERED NUMBER: 04259463 (England and Wales)





ACCOUNTANTS: Lishmans LLP
16-18 Station Road
Chapeltown
Sheffield
South Yorkshire
S35 2XH

Premier Welding Services Limited (Registered number: 04259463)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 53,073
Tangible assets 5 81,771 67,779
81,771 120,852

CURRENT ASSETS
Stocks 138,164 265,297
Debtors 6 844,886 998,054
Cash at bank and in hand 243,572 331,154
1,226,622 1,594,505
CREDITORS
Amounts falling due within one year 7 1,139,408 1,275,998
NET CURRENT ASSETS 87,214 318,507
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,985

439,359

CREDITORS
Amounts falling due after more than
one year

8

(125,836

)

(162,500

)

PROVISIONS FOR LIABILITIES 9 (11,332 ) (12,878 )
NET ASSETS 31,817 263,981

Premier Welding Services Limited (Registered number: 04259463)

Balance Sheet - continued
30 April 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 80 80
Retained earnings 31,737 263,901
SHAREHOLDERS' FUNDS 31,817 263,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

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 September 2024 and were signed on its behalf by:




Mr A E Ryder - Director Mr A R Ryder - Director




Mr A Ferriday - Director


Premier Welding Services Limited (Registered number: 04259463)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Premier Welding Services 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 10% on reducing balance

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 Welding Services Limited (Registered number: 04259463)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

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

The average number of employees during the year was 7 (2023 - 9 ) .

Premier Welding Services Limited (Registered number: 04259463)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 530,697
AMORTISATION
At 1 May 2023 477,624
Charge for year 53,073
At 30 April 2024 530,697
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 53,073

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 138,322
Additions 26,990
At 30 April 2024 165,312
DEPRECIATION
At 1 May 2023 70,543
Charge for year 12,998
At 30 April 2024 83,541
NET BOOK VALUE
At 30 April 2024 81,771
At 30 April 2023 67,779

Premier Welding Services Limited (Registered number: 04259463)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 41,313
DEPRECIATION
At 1 May 2023
and 30 April 2024 34,358
NET BOOK VALUE
At 30 April 2024 6,955
At 30 April 2023 6,955

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 844,438 715,617
Other debtors - 282,035
Prepayments 448 402
844,886 998,054

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 57,273 50,000
Trade creditors 634,352 644,473
Tax 75,934 104,905
Social security and other taxes 4,791 3,041
VAT 47,204 43,613
Other creditors 7,500 7,500
Directors' current accounts 312,354 422,466
1,139,408 1,275,998

Premier Welding Services Limited (Registered number: 04259463)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan > 1 year 125,836 162,500

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 11,332 12,878

Deferred
tax
£   
Balance at 1 May 2023 12,878
Provided during year (1,546 )
Balance at 30 April 2024 11,332

10. RELATED PARTY DISCLOSURES

Icetech Technologies is a partnership in which Mr A E Ryder & Mr A R Ryder are partners.

Premier Welding charged Icetech a management charge of £40,236 during the year.

At the year end Icetech Technologies owed the company £Nil (2023 £282,035.28).