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REGISTERED NUMBER: 09363999 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31st December 2023

for

Premier Petrol Stations Limited

Premier Petrol Stations Limited (Registered number: 09363999)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Premier Petrol Stations Limited

Company Information
for the Year Ended 31st December 2023







Directors: M Yasir
Muhammad Safeer Raja





Registered office: 48 Newport Street
Oldham
OL8 1RE





Registered number: 09363999 (England and Wales)





Accountants: DBF Associates
Chartered Accountants
South Cheetham B C
10 Park Place
Manchester
Lancashire
M4 4EY

Premier Petrol Stations Limited (Registered number: 09363999)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,586,614 3,449,967

Current assets
Stocks 252,475 325,550
Debtors 5 - 12,080
Cash at bank and in hand 1,171,732 1,332,227
1,424,207 1,669,857
Creditors
Amounts falling due within one year 6 1,826,472 2,236,998
Net current liabilities (402,265 ) (567,141 )
Total assets less current liabilities 3,184,349 2,882,826

Creditors
Amounts falling due after more than one
year

7

1,675,069

1,822,110
Net assets 1,509,280 1,060,716

Capital and reserves
Called up share capital 9 2 1
Retained earnings 1,509,278 1,060,715
Shareholders' funds 1,509,280 1,060,716

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Petrol Stations Limited (Registered number: 09363999)

Balance Sheet - continued
31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th August 2024 and were signed on its behalf by:




Muhammad Safeer Raja - Director



M Yasir - Director


Premier Petrol Stations Limited (Registered number: 09363999)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. Statutory information

Premier Petrol Stations 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.

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 - 15% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on cost
Equipment - 20% 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 Statement of Income and Retained Earnings, 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.

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

Premier Petrol Stations Limited (Registered number: 09363999)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


2. Accounting policies - continued

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 35 (2022 - 44 ) .

4. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Cost
At 1st January 2023 3,076,500 90,608 313,804
Additions 558,866 - -
Disposals (279,281 ) - -
At 31st December 2023 3,356,085 90,608 313,804
Depreciation
At 1st January 2023 - 21,098 143,374
Charge for year - 13,591 25,565
Eliminated on disposal - - -
At 31st December 2023 - 34,689 168,939
Net book value
At 31st December 2023 3,356,085 55,919 144,865
At 31st December 2022 3,076,500 69,510 170,430

Motor
vehicles Equipment Totals
£    £    £   
Cost
At 1st January 2023 120,432 70,816 3,672,160
Additions - - 558,866
Disposals (120,432 ) - (399,713 )
At 31st December 2023 - 70,816 3,831,313
Depreciation
At 1st January 2023 24,086 33,635 222,193
Charge for year - 7,436 46,592
Eliminated on disposal (24,086 ) - (24,086 )
At 31st December 2023 - 41,071 244,699
Net book value
At 31st December 2023 - 29,745 3,586,614
At 31st December 2022 96,346 37,181 3,449,967

Premier Petrol Stations Limited (Registered number: 09363999)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


5. Debtors: amounts falling due within one year
2023 2022
£    £   
Prepayments - 12,080

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 1,427,577 1,982,238
Tax 214,831 126,202
Social security and other taxes 24,778 14,567
VAT 52,686 113,991
Other creditors 100,000 -
Accrued expenses 6,600 -
1,826,472 2,236,998

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans (see note 8) 1,584,287 1,723,648
Directors' loan accounts 90,782 98,462
1,675,069 1,822,110

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,584,287 1,723,648

8. Loans

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 1,584,287 1,723,648

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £0.01 1 1
100 Ordinary B £0.01 1 -
2 1

100 Ordinary B shares of £0.01 each were allotted and fully paid for cash at par during the year.