1 April 2023 false No description of principal activity Taxfiler 2024.6 05759083business:PrivateLimitedCompanyLtd2023-04-012024-03-31 057590832023-03-31 057590832023-04-012024-03-31 05759083business:AuditExempt-NoAccountantsReport2023-04-012024-03-31 05759083business:AbridgedAccounts2023-04-012024-03-31 057590832024-03-31 05759083business:Director32023-04-012024-03-31 05759083business:Director42023-04-012024-03-31 05759083business:RegisteredOffice2023-04-012024-03-31 057590832023-03-31 05759083core:WithinOneYear2024-03-31 05759083core:WithinOneYear2023-03-31 05759083core:AfterOneYear2024-03-31 05759083core:AfterOneYear2023-03-31 05759083core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 05759083core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 05759083core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 05759083core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 05759083core:PreviouslyStatedAmount2024-03-31 05759083core:PreviouslyStatedAmount2023-03-31 05759083business:SmallEntities2023-04-012024-03-31 05759083countries:EnglandWales2023-04-012024-03-31 05759083core:PlantMachinery2023-04-012024-03-31 05759083core:MotorVehicles2023-04-012024-03-31 05759083core:FurnitureFittings2023-04-012024-03-31 05759083core:ComputerEquipment2023-04-012024-03-31 057590832022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 05759083 (England and Wales)
PREMIER COMPLIANCE UK LIMITED Unaudited accounts for the year ended 31 March 2024
PREMIER COMPLIANCE UK LIMITED Unaudited accounts Contents
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PREMIER COMPLIANCE UK LIMITED Company Information for the year ended 31 March 2024
Directors
J D Poole Z D Poole
Company Number
05759083 (England and Wales)
Registered Office
UNIT 2G REDWITHER TOWER REDWITHER BUSINESS PARK WREXHAM LL13 9XT WALES
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PREMIER COMPLIANCE UK LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
9,000 
18,000 
Tangible assets
138,866 
141,795 
147,866 
159,795 
Current assets
Inventories
32,662 
34,260 
Debtors
380,456 
220,811 
Cash at bank and in hand
177,565 
69,258 
590,683 
324,329 
Creditors: amounts falling due within one year
(351,443)
(174,450)
Net current assets
239,240 
149,879 
Total assets less current liabilities
387,106 
309,674 
Creditors: amounts falling due after more than one year
(23,892)
(40,324)
Net assets
363,214 
269,350 
Capital and reserves
Called up share capital
4 
4 
Profit and loss account
363,210 
269,346 
Shareholders' funds
363,214 
269,350 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2024 and were signed on its behalf by
Z D Poole Director Company Registration No. 05759083
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PREMIER COMPLIANCE UK LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
PREMIER COMPLIANCE UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05759083. The registered office is UNIT 2G REDWITHER TOWER, REDWITHER BUSINESS PARK, WREXHAM, LL13 9XT, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
25% straight line
Computer equipment
25% reducing balance
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PREMIER COMPLIANCE UK LIMITED Notes to the Accounts for the year ended 31 March 2024
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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PREMIER COMPLIANCE UK LIMITED Notes to the Accounts for the year ended 31 March 2024
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 April 2023
100,000 
At 31 March 2024
100,000 
Amortisation
At 1 April 2023
82,000 
Charge for the year
9,000 
At 31 March 2024
91,000 
Net book value
At 31 March 2024
9,000 
At 31 March 2023
18,000 
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PREMIER COMPLIANCE UK LIMITED Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2023
175,121 
Additions
53,173 
Disposals
(27,535)
At 31 March 2024
200,759 
Depreciation
At 1 April 2023
33,326 
Charge for the year
28,567 
At 31 March 2024
61,893 
Net book value
At 31 March 2024
138,866 
At 31 March 2023
141,795 
6
Loans to directors
At the year end, there were overdrawn directors' loan accounts totalling £2,892 (2022 - £0). These loans were repaid within 9 months of the company year end. No interest has been charged on this loan.
7
Average number of employees
During the year the average number of employees was 29 (2023: 29).
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