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REGISTERED NUMBER: 02194980 (England and Wales)
















PREMIER ALARMS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






PREMIER ALARMS LIMITED (REGISTERED NUMBER: 02194980)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PREMIER ALARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: V Humphreys
L Humphreys





SECRETARY: L Humphreys





REGISTERED OFFICE: 2 Lakeview Stables
Lower St. Clere
Kemsing
Sevenoaks
Kent
TN15 6NL





REGISTERED NUMBER: 02194980 (England and Wales)





AUDITORS: Lakeview Southern Audit Limited
Chartered Accountants and
Statutory Auditors
2 Lakeview Stables
Lower St. Clere
Kemsing
Sevenoaks
Kent
TN15 6NL

PREMIER ALARMS LIMITED (REGISTERED NUMBER: 02194980)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,235 12,469
Tangible assets 5 1,032,174 362,061
1,038,409 374,530

CURRENT ASSETS
Stocks 6 19,840 23,220
Debtors 7 287,161 378,717
Cash at bank and in hand 382,466 812,593
689,467 1,214,530
CREDITORS
Amounts falling due within one year 8 1,272,623 1,166,650
NET CURRENT (LIABILITIES)/ASSETS (583,156 ) 47,880
TOTAL ASSETS LESS CURRENT
LIABILITIES

455,253

422,410

CREDITORS
Amounts falling due after more than one
year

9

(16,049

)

-

PROVISIONS FOR LIABILITIES (48,579 ) (47,173 )
NET ASSETS 390,625 375,237

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 380,625 365,237
SHAREHOLDERS' FUNDS 390,625 375,237

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





V Humphreys - Director


PREMIER ALARMS LIMITED (REGISTERED NUMBER: 02194980)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Premier Alarms 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 comprises the value of goods and services sold by the company in the year. Maintenance contracts are taken to turnover over the period of the agreement.

Goodwill
Goodwill, being the amount paid in connection with the amalgamation of Premier Access Control Ltd (formerly Locksecure Limited) into the company on 1 June 2005, is being amortised evenly over it's estimated useful life of 20 years. The life of the goodwill has been reviewed by the Directors who consider that as the division is run as a separate entity there is a reliable estimate to base this upon.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Leasehold improvements - 5% on cost
Plant and machinery - 25% on reducing balance
Fixtures & fittings - 15% on reducing balance
Motor vehicles - at variable rates 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.

Financial instruments
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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classified as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains and losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


PREMIER ALARMS LIMITED (REGISTERED NUMBER: 02194980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Cash and cash equivalents
The company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The company does not have any such investments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 124,697
AMORTISATION
At 1 June 2023 112,228
Amortisation for year 6,234
At 31 May 2024 118,462
NET BOOK VALUE
At 31 May 2024 6,235
At 31 May 2023 12,469

The goodwill arose on the amalgamation of the assets, trade and goodwill of Premier Access Control Ltd (formerly Locksecure Limited) into the company. This company is now dormant.

PREMIER ALARMS LIMITED (REGISTERED NUMBER: 02194980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS
Freehold Leasehold Plant and
property improvements machinery
£    £    £   
COST
At 1 June 2023 - 242,869 12,973
Additions 599,679 - -
At 31 May 2024 599,679 242,869 12,973
DEPRECIATION
At 1 June 2023 - 227,691 12,562
Charge for year - 15,178 137
At 31 May 2024 - 242,869 12,699
NET BOOK VALUE
At 31 May 2024 599,679 - 274
At 31 May 2023 - 15,178 411

Fixtures Motor
& fittings vehicles Totals
£    £    £   
COST
At 1 June 2023 117,556 564,146 937,544
Additions - 197,180 796,859
At 31 May 2024 117,556 761,326 1,734,403
DEPRECIATION
At 1 June 2023 90,298 244,932 575,483
Charge for year 4,089 107,342 126,746
At 31 May 2024 94,387 352,274 702,229
NET BOOK VALUE
At 31 May 2024 23,169 409,052 1,032,174
At 31 May 2023 27,258 319,214 362,061


6. STOCKS
31.5.24 31.5.23
£    £   
Stocks 19,840 23,220

PREMIER ALARMS LIMITED (REGISTERED NUMBER: 02194980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 201,381 199,431
Other debtors 43,645 102,974
Directors' loans - 29,678
Prepayments 42,135 46,634
287,161 378,717

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 10) 9,630 -
Trade creditors 179,605 212,436
Corporation taxation 153,186 113,854
Social security and other taxes 125,732 137,206
Directors' loans 4,229 -
Accruals and deferred income 800,241 703,154
1,272,623 1,166,650

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 10) 16,049 -

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 9,630 -
Between one and five years 16,049 -
25,679 -

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adrian Hull (Senior Statutory Auditor)
for and on behalf of Lakeview Southern Audit Limited

PREMIER ALARMS LIMITED (REGISTERED NUMBER: 02194980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
V Humphreys and L Humphreys
Balance outstanding at start of year 29,678 131,682
Amounts repaid (29,678 ) (102,004 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 29,678

Interest is charged at 2.5% and the loan is repayable on demand.

13. RELATED PARTY DISCLOSURES

Dividends were paid to the Directors in the year in their capacity as shareholders.

14. PRINCIPAL PLACE OF BUSINESS

The principal place of business is Unit F4, Chaucer Industrial Estate, Watery Lane, Kemsing, Sevenoaks, Kent TN15 6PL.

15. PENSION COMMITMENTS

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.