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REGISTERED NUMBER: 03738178 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

PREMIER COMPRESSOR SERVICES LIMITED

PREMIER COMPRESSOR SERVICES LIMITED (REGISTERED NUMBER: 03738178)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIER COMPRESSOR SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: Mr DW Moreland
Mrs MJ Shelton
Mr G Shelton
Mrs SD Moreland





SECRETARY: Mrs MJ Shelton





REGISTERED OFFICE: Units 14-15 Enterprise Close
Telford Way Industrial Estate
Kettering
Northamptonshire
NN16 8NS





REGISTERED NUMBER: 03738178 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

PREMIER COMPRESSOR SERVICES LIMITED (REGISTERED NUMBER: 03738178)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,710 51,219

CURRENT ASSETS
Stocks 5,326 6,025
Debtors 5 142,738 81,296
Cash at bank 79,925 129,019
227,989 216,340
CREDITORS
Amounts falling due within one year 6 153,374 134,451
NET CURRENT ASSETS 74,615 81,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,325

133,108

CREDITORS
Amounts falling due after more than one
year

7

(24,948

)

(47,549

)

PROVISIONS FOR LIABILITIES (8,262 ) (8,483 )
NET ASSETS 79,115 77,076

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 79,015 76,976
SHAREHOLDERS' FUNDS 79,115 77,076

PREMIER COMPRESSOR SERVICES LIMITED (REGISTERED NUMBER: 03738178)

BALANCE SHEET - continued
30TH JUNE 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 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 16th October 2024 and were signed on its behalf by:





Mr DW Moreland - Director


PREMIER COMPRESSOR SERVICES LIMITED (REGISTERED NUMBER: 03738178)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

Premier Compressor 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.

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historic 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% 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.

PREMIER COMPRESSOR SERVICES LIMITED (REGISTERED NUMBER: 03738178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued

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.

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.

Financial instruments
The company is party to only basic financial instruments such as cash, trade debtors and creditors, and bank loans. Instruments such as trade debtors and creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2023 107,179
Disposals (11,555 )
At 30th June 2024 95,624
DEPRECIATION
At 1st July 2023 55,960
Charge for year 12,569
Eliminated on disposal (10,615 )
At 30th June 2024 57,914
NET BOOK VALUE
At 30th June 2024 37,710
At 30th June 2023 51,219

PREMIER COMPRESSOR SERVICES LIMITED (REGISTERED NUMBER: 03738178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1st July 2023
and 30th June 2024 59,191
DEPRECIATION
At 1st July 2023 15,358
Charge for year 10,958
At 30th June 2024 26,316
NET BOOK VALUE
At 30th June 2024 32,875
At 30th June 2023 43,833

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 142,287 80,393
Other debtors 451 903
142,738 81,296

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,268 10,015
Hire purchase contracts 12,333 11,233
Trade creditors 46,350 45,869
Taxation and social security 56,575 39,309
Other creditors 27,848 28,025
153,374 134,451

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,640 19,908
Hire purchase contracts 15,308 27,641
24,948 47,549