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Registration number: 06494288

Premier Residential Management Ltd
Annual Report and
Unaudited Financial Statements

31 December 2023

 

Premier Residential Management Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Premier Residential Management Ltd

Balance Sheet
31 December 2023

Note

2023
£

(As restated)

2022
£

Current assets

 

Debtors

4

45

45

Cash at bank and in hand

 

99,939

93,858

 

99,984

93,903

Creditors: Amounts falling due within one year

5

(101,349)

(94,518)

Net liabilities

 

(1,365)

(615)

Capital and reserves

 

Called up share capital

45

45

Retained earnings

(1,410)

(660)

Shareholders' deficit

 

(1,365)

(615)

 

Premier Residential Management Ltd

Balance Sheet
31 December 2023

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mr A Broadhurst
Director

Company Registration Number: 06494288

 

Premier Residential Management Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Derwent House
Waterfold Business Park
Bury
Lancashire
BL9 7BR
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The purpose of this entity is to collect service charges monies on behalf of the landlord and pay for any relevant property expenditure on behalf of the landlord. Any funds held are owed to the tenants of the related properties.

 

Premier Residential Management Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

Prior period errors

The purpose of this entity is to collect service charges monies on behalf of the landlord and pay for any relevant property expenditure on behalf of the landlord. Any funds held are owed to the tenants of the related properties. The prior year adjustment was made to reflect the correct accounting treatment of the income/expenditure during the period which related to the landlord's properties, not Premier Residential Management.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Premier Residential Management Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2022 - 2).

4

Debtors

Current

2023
£

(As restated)

2022
£

Other debtors

45

45

 

45

45

5

Creditors

Creditors: amounts falling due within one year

2023
£

(As restated)

2022
£

Due within one year

Accruals and deferred income

750

660

Other creditors

100,599

93,858

101,349

94,518