IRIS Accounts Production v24.3.0.553 01431071 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh014310712023-01-31014310712024-01-31014310712023-02-012024-01-31014310712022-01-31014310712022-02-012023-01-31014310712023-01-3101431071ns15:EnglandWales2023-02-012024-01-3101431071ns14:PoundSterling2023-02-012024-01-3101431071ns10:Director12023-02-012024-01-3101431071ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3101431071ns10:SmallEntities2023-02-012024-01-3101431071ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3101431071ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3101431071ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3101431071ns10:FullAccounts2023-02-012024-01-3101431071ns10:Director22023-02-012024-01-3101431071ns10:RegisteredOffice2023-02-012024-01-3101431071ns5:CurrentFinancialInstruments2024-01-3101431071ns5:CurrentFinancialInstruments2023-01-3101431071ns5:Non-currentFinancialInstruments2024-01-3101431071ns5:Non-currentFinancialInstruments2023-01-3101431071ns5:ShareCapital2024-01-3101431071ns5:ShareCapital2023-01-3101431071ns5:RetainedEarningsAccumulatedLosses2024-01-3101431071ns5:RetainedEarningsAccumulatedLosses2023-01-3101431071ns5:PlantMachinery2023-02-012024-01-3101431071ns5:FurnitureFittings2023-02-012024-01-3101431071ns5:PlantMachinery2023-01-3101431071ns5:FurnitureFittings2023-01-3101431071ns5:PlantMachinery2024-01-3101431071ns5:FurnitureFittings2024-01-3101431071ns5:PlantMachinery2023-01-3101431071ns5:FurnitureFittings2023-01-3101431071ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3101431071ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3101431071ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-01-3101431071ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-01-31
REGISTERED NUMBER: 01431071 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Premier Fuel Systems Limited

Premier Fuel Systems Limited (Registered number: 01431071)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Premier Fuel Systems Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: R E Fletcher
R H Fletcher





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





BUSINESS ADDRESS: Willow Road
Trent Lane Industrial Estate
Castle Donington
Derbyshire
DE74 2NP





REGISTERED NUMBER: 01431071 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Premier Fuel Systems Limited (Registered number: 01431071)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 135,957 80,646
Debtors 5 515,597 412,655
Cash at bank 205,188 89,836
856,742 583,137
CREDITORS
Amounts falling due within one year 6 527,677 343,563
NET CURRENT ASSETS 329,065 239,574
TOTAL ASSETS LESS CURRENT
LIABILITIES

329,065

239,574

CREDITORS
Amounts falling due after more than one
year

7

-

23,207
NET ASSETS 329,065 216,367

CAPITAL AND RESERVES
Called up share capital 3,150 3,150
Retained earnings 325,915 213,217
SHAREHOLDERS' FUNDS 329,065 216,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:



R E Fletcher - Director


Premier Fuel Systems Limited (Registered number: 01431071)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Premier Fuel Systems 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 represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the agreed upon payment will be received.

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 - 20% on reducing balance
Fixtures and fittings - 20% to 33% on cost

Stocks
Stocks are valued at purchase invoice price on an average cost basis, which are then stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred tax
Deferred tax is recognised in respect of all material timing differences.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 15 (2023 - 13 ) .

Premier Fuel Systems Limited (Registered number: 01431071)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 31,500 164,367 195,867
DEPRECIATION
At 1 February 2023
and 31 January 2024 31,500 164,367 195,867
NET BOOK VALUE
At 31 January 2024 - - -
At 31 January 2023 - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 486,963 372,053
Other debtors 15,186 23,873
Prepayments 13,448 16,729
515,597 412,655

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 9,933
Trade creditors 127,164 166,580
Social security and other taxes 11,937 63,354
Amounts owed to related parties 50,000 -
Directors' current accounts 8,311 28,692
Accrued expenses 330,265 75,004
527,677 343,563

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 23,207